How do I make my construction company less dependent on me before selling?

Buyers of construction companies look hard at one question: what happens when the owner leaves? If the answer is that the work dries up, the company is hard to sell. The work comes down to a list of tasks. Our general page on running a business without you sets the idea. Here are the construction roles it does not name.

Move estimating and bidding

If you price every job, a buyer is buying your head. Bring in a second person to prepare estimates alongside you, and keep written pricing records: how labour, materials and risk are priced and why. Let that person submit a few bids on their own while you watch. Over time, a buyer can see that the pricing method belongs to the company.

Introduce a project manager to clients

General contractors and repeat clients tend to call the owner. Put a project manager in front of them, on site visits, at meetings and on payment questions. The buyer will ask whether those clients would stay, and the answer is stronger when they already deal with someone else. The organizational chart page shows how a buyer reads this.

Document sites, crews and relationships

Write down how crews are scheduled, who leads each site and how problems are escalated. Introduce a successor to your bank and, if you use one, your surety, so they hear about the change from you. EDC describes surety bonds (see the sources below), and your provider will tell you what it needs.

Equipment records a buyer can trust

• A list of machines and vehicles with age, hours and ownership.
• Maintenance and repair records.
• Any loans secured on equipment.
• Notes on what is due for replacement.