I'm in the process of selling my small HVAC company, and a potential buyer is interested in purchasing the business phone number separately from the rest of the assets. It's a local number that's been with us for about 8 years and has a lot of goodwill attached. My question is: how do I even go about selling a phone number? Is it as simple as transferring it to their carrier? What's a fair way to value it? I don't want to get taken advantage of, but I also don't want to overcomplicate the deal. Any advice from folks who've done this?
phone numbers
how to sell a business phone number
I used to own a plant nursery and sold the number along with the business. The buyer just took over the account. We had to do a change of responsibility with the phone company. It wasn't a separate sale, but I'd imagine it's similar.
I've bought and sold a few businesses. The number's value is tied to how many customers recognize it. If it's in the yellow pages and on your trucks, it's worth something. But selling it separately? That's tricky because your business name might be part of the number's recognition. I'd say get a business broker involved.
Thanks. I should clarify: the buyer wants the number for a new venture they're starting, not to continue the HVAC business. So it's really just the number and its history. I'm not sure how to price that.
I don't think you can really sell a phone number like a product. It's more of a transfer of rights. Check your carrier's policy. Some might not allow it. Also, consider if the number is listed in online directories—you might need to update those.
Honestly, the value is probably low unless it's a vanity number. Most people don't care about the number itself, just the business. But if the buyer insists, maybe get an appraisal from a telecom consultant? Might cost more than it's worth.
I sold my landscaping business last year and the phone number was included in the sale. We just hqd the buyer open a new account and we ported the number. The phone company handled it. As for pricing, we just lumped it into the overall price. If youre selling it separately, maybe look at what similar numbers go for on those number marketplace sites?
I didn't even know there were number marketplace sites. I'll look into that. But this buyr is offering a flat fee—low four figures. Is that reasonable?
Low four figures for a non-vanity number? That seems high to me. Unless it's a really memorable number or has huge local recognition. But if they're offering, maybe take it. Just make sure the transfer is done properly and you're not left with any liability.
I agree with MangoTango. Make sure you get it in writing, and that the carrier confirms the transfer. I've heard of numbers getting lost in the shuffle.
Also, think about your existing customers. If they call that number after the sale and get a different business, that could be confusing. Maybe set up a forwarding messge for a while. But if the buyer wants it for a different purpose, they might not want that.