Remodelers Need an Exit Strategy

<p>Do you have an exit strategy? David Lupberger has asked that question in rooms full of contractors and rarely gets more than two hands in the air.</p><p>Kyle sits down with David, founder of Contractor Transition Strategies, to talk through what it actually takes to build a business with the end in mind, from identifying your successor to closing the asset gap to understanding what your business is actually worth.</p><p><a href="https://contractortransitionstrategies.com/webinar?referrer=kh" rel="noopener noreferrer nofollow"><b><strong>You can join David for his four-part webinar series starting September 30th here!</strong></b></a></p><p>Explore the vast array of tools, training courses, a podcast, and a supportive community of over 2,000 remodelers.</p><p>Visit <a href="http://remodelersontherise.com/" rel="noopener noreferrer nofollow" target="_blank">RemodelersOnTheRise.com</a> today and take your remodeling business to new heights!</p><p><b><strong>Key Takeaways</strong></b></p><ul><li>Timing of exit and transition planning</li><li>Importance of less owner reliance for business value</li><li>Valuation methods using EBITDA and multiples</li><li>Successor development and key employee incentives</li><li>Financial planning including asset gap and retirement savings</li><li>Business continuity planning for unforeseen events</li></ul><p><b><strong>Chapters:</strong></b></p><p>00:00 Introduction and guest background</p><p>00:10 Kyle and David's history and mastermind experience</p><p>00:19 The importance of planning for business transition</p><p>00:23 Key questions for transition planning: when, asset gap, successor</p><p>00:29 Valuation basics: EBITDA and multiples</p><p>00:37 Strategies to increase business value and recurring revenue</p><p>00:43 Options for sale: third-party, key employee, owner financing</p><p>00:44 Legal and tax considerations in transition</p><p>01:14 Designing your retirement lifestyle and planning ahead</p><p>01:35 The importance of a business continuity plan</p><p>02:03 Final thoughts and encouragement for proactive planning</p>