Selling a gas heating business advice

I'm posting on behalf of my father. He is a gas heating engineer with his own business in the UK. Doesn't do installations, just servicing and repairs.

Business has been around 20 years, and has a steady list of repeat customers who have their annual service. He doesn't employ anyone else, but has enough work for himself right through the year. For the sake of argument lets say he takes home £30K per year.

He is going to be retiring in a year or two and I've suggested he try selling the business, or at least the list of names, before he retires.

Is this common practice, and if so is there a trade place to advertise this sort of stuff? Can anyone give a rough indication how much this may be worth? Has anyone on here done the same and can offer any advice?

I/We are not quite sure where to start with this.
Thanks in advance

I would suggest that he/you register for the closed section of this site called the Combustion Chamber and then post about this question there.

Send gas registration details to [email protected]

Tony

I agree with Tony, this should be done in the CC, which is for RGI's only. Without more details, it is as difficult to answer as: what is a second hand car worth? It has a value, that's for sure, provided he is willing to include a transitional period where he is available to liase with the new owner and existing clients.
The list of names alone is worth very little if I am not actively endorsed.

OK, thanks guys. I realize it was a difficult one to give guidance on without the full details. I was deliberately vague on a public forum, so as you say I may be better off within the closed forum.

He aint great with computers (hence me being here) but I'll give him a nudge in this direction.

Thanks

I am pretty sure there is no problem acting as his i.t. manager on his behalf, and work this as a jointventure with him, at least as the forum help is concerned. I presume he has no issue with you finding out what the sums concerned are, so you could make the "connection" with the forum, and act at the same time as a soundboard. It can be quite helpful for an engineer to get input from somebody who is not likely to get stuck in the technical bits.

I will have quite a bit to say about this as its something I have often thought about and done some research on.

But only in the CC !

Tony

Does he have a proper accountant? I know mine has helped out plenty of business owners selling their business due to retirement and getting them the best price for it, while providing all the needed documentation, helping with discussions etc etc