How do I sell my contracting business when jobs are still under way?

Open jobs do not stop a sale, but they shape it. Start by building one schedule covering every active contract: the client, the scope, what has been billed, what has been paid, what costs remain and any known problems. Honest numbers help a buyer trust the rest of your records. Then think about timing. Some sellers finish the larger jobs before closing. Others transfer them with the company. Either way, the agreement should say who is responsible for unfinished work, warranty calls and unpaid invoices. Your lawyer can draft this, and your accountant can help you treat the books consistently.

Think about your clients and crew, too. Clients on open jobs may need to be told, and some contracts require consent before they move. Your crew will want to know their jobs are safe. Agree with the buyer on when and how each group hears the news. Keep working while the sale proceeds. Slipping standards on open jobs are the first thing a careful buyer will notice. Be ready to answer questions about slow-paying clients, since a buyer will look at what is owed to you on open work as closely as the work itself.

Key takeaways

• Build a single schedule of every open job with honest figures.
• Decide with your lawyer who owns unfinished work and callbacks.
• Check whether any contract needs client consent to transfer.
• Be ready to explain any slow-paying clients on open work.