Can I sell my plumbing business if I’m the only plumber?
Many one-person plumbing businesses are sold, but the buyer is acquiring less than in a shop with staff: a customer list, a phone number, a van and tools, and perhaps property-manager accounts. Expect to offer a longer handover, and consider a nearby shop as a buyer. A lawyer or the regulator can confirm what the buyer needs.
If you do all the work yourself, you may wonder whether there is anything to sell. There can be, but it looks different from a company with a crew. A buyer cannot buy your skill. They can buy what you built around it. Work out what that is and how to hand it over.
What a buyer actually gets
Usually it is the customer list and service history, the phone number and website people already use, the van and tools, and any standing arrangements with property managers or builders. Gather these in an organized form. Clear records of who you serve and how often make the business easier to understand, and they help a buyer judge how much of the work might continue.
The handover matters more
Because customers know you personally, the handover carries more weight than it would in a larger shop. Be ready to offer a period working alongside the buyer, introductions to key customers and calls to property managers. Say clearly in advance how long you can do this. Buyers tend to trust a plan they can see more than a promise of help.
Other routes to consider
A nearby plumbing shop may be better placed than a stranger to serve your customers, since it already has the crew. You might also hire an employee first and let the business grow into something that can be sold. Our guide on selling a plumbing contractor covers records and structure in more detail.
Related reading
15 pages on the same subject, grouped by topic.
Selling
Buying
- GuideBuying a plumbing contractor in Canada
- Expert answerWho handles callbacks on past installs after you buy an HVAC company?
- Expert answerHow do I tell what a plumbing company owner actually takes home?
- Expert answerHow do I check where a plumbing company’s calls come from before buying?
- Expert answerDo a plumbing company’s phone number, website and online reviews come with the sale?
- Expert answerHow does a barbershop make money?
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to minimize negotiations when selling your business
- 02Business Development Bank of CanadaGovernmentUnderstanding the options for selling your business
- 03Business Development Bank of CanadaGovernmentHow to Find the Right Buyer for Your Business
- 04Canada Revenue AgencyGovernmentSole proprietorships and partnerships
Deavo is an advertising and listings platform, not a brokerage, law firm or valuation firm. This page is general information, not legal, tax, accounting or valuation advice, and rules differ by province. Confirm anything you rely on with a qualified professional before you act on it.