My First Two Attempts to Sell My Restoration Business Failed, and I’m Glad They Did

Walking away from an 18-month deal at the last minute left me with a stronger business than I ever had before.

It took me three tries to sell my restoration business.

The first two times, I failed. And I'm glad I did.

The first time, I listed it with a local business broker. Nice guy, a generalist, sold everything from laundromats to staffing companies. Signed a one-year agreement. He brought me one tire-kicker early on, and then it was crickets for the rest of the year. Nothing happened. I was still pretty involved in the daily operations, so really, the business wasn't ready to sell.

The second time, I got introduced to a guy representing a family office looking to buy up local service businesses. I let him string me along for about eighteen months. Postponement after postponement, always at his request. "Scott, I just need a little more time." The last time he asked for an extension, I said no. And I was relieved. I got to keep my business.

Here's what I didn't expect . . . During that year and a half of back and forth, my team and I did some of our best work ever. The business got more profitable and ran smoother than it ever had. I kept thinking, "What am I doing? My team is awesome. My income's up. I'm barely in the day-to-day anymore. This is actually a really good thing I've got."

A couple of years later, with my auto glass business and my coaching business both doing really well, I decided it was time again. This time I listed and sold through a restoration-specific broker, and I was thrilled with how it went. This time I was ready. And so was the business.

No regrets at all about how this all played out. Those two failed attempts weren't wasted time. They gave me the runway to build a much more valuable business that was really ready to be sold, and I sold it for substantially more than I could have on attempts one or two.

There are two parts to readiness. Is the owner ready? And is the business ready? A lot of owners get the check and don't know what to do with themselves. Six months later, they're wondering if they should've just kept the business. That never happened to me, because by the time I sold, I already knew what my next chapter looked like.

I help owners build valuable, sellable businesses. Email me at [email protected] and I'll send you a free resource on this, or book a free strategy call at thegrowthleague.com/schedule and we'll talk about how I might be able to help you. Whether that's the Restoration Sales Academy, the Restoration Profit Academy, or one-on-one coaching, we'll figure out what fits you. No pressure. I just want to help you. I want to see you take action.