Business Modification Group Sells 3 Businesses in One Week
Business Modification group owner shares his perspective as to why he thinks it's a good time to own a service based company.
HORSESHOE BEACH, Fla., Oct. 18, 2019 /PRNewswire-PRWeb/ -- Patrick Lange, owner of Business Modification Group describes the service based trade industries as "booming." In the last week alone he has closed 3 deals in Atlanta, GA, Brevard, NC, and Myrtle Beach, SC. In his role as a business broker, he works with sellers of HVAC businesses to find and negotiate with buyers.
"The word is out that it's a great time to be in the residential or commercial service trade. The demand is increasing, and its "recession-resistant" due to the need to maintain an investment in a home or business that was already made." He says.
His ideas as to why this is an increasingly desirable business segment is due partly to economic uncertainty at the national level. The U.S. policy on trade with other countries is evolving as it considers tariffs on goods. This, combined with the Trump administration's intentions of pulling back from the North American Free Trade Agreement (NAFTA) in place since 1992, makes for a shaky outlook in goods manufacturing beyond 2020.
It's these market conditions that are driving capital investment to service-based businesses.
The data seems to support Lange's suggestions. In 2019, a total of 2454 small businesses were sold in the third quarter of 2019, an 8.6% decline compared to the same period last year. This seems to have come in large part from the manufacturing sector.
In addition, as the US infrastructure continues to age, additional work for service-based businesses is coming. House Democrats and Republicans agree that an investment of 2 trillion dollars is needed to support current and future growth. In this age of bipartisan politics, any agreement of this magnitude is notable, so it's likely to get done in some capacity.
"I think we'll look back and see this time as the golden era for business owners looking to exit. We are close enough to the top of the peak, but with enough upside to keep buyers interested, it's a win for both parties." Lange explains.
We are seeing early signs of capital moving to the perceived safe and reliable investment of service-related industries. With Q4 data expected in 4 months, more evidence will make the picture more clear.
About Patrick Lange
https://www.linkedin.com/in/patrick-lange-businessbroker/
Patrick Lange is an experienced HVAC specific business broker with Business Modification Group based in Horseshoe Beach, Florida. He has a unique background in financial planning and has even owned an HVAC business himself. This makes him well suited to working with some of the most successful HVAC business owners in the country. Specializing in companies with 1-10 million dollars in revenue, he maintains a network of buyers and sellers in the industry. He has sold more HVAC businesses than any other broker in the United States over the last 12 months and is currently the Vice President of the Business Brokers of Florida (North Florida District.
Patrick has a Bachelor's degree in Business Administration and Management from the University of Florida. In his downtime, he enjoys fishing and spending time with his wife Jennifer and extended family.
If you would like further comments or want to interview Patrick Lange, please call (352) 440-4604 or email [email protected]
SOURCE Business Modification Group
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