Home Service Industry Licenses?
For people who are looking to acquire businesses in the home service industry that require a License, what are people doing for a license such as a plumbers license, electrician license, and an HVAC license?
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by a searcher
in Ashland, NE 68003, USA
in Ashland, NE 68003, USA
2yrs ago
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by a professional
2yrs ago
from Villanova University in West Chester, PA, USA
from Villanova University in West Chester, PA, USA
Hi ^redacted, this depends on state law and the licensing requirements. Sometimes it's held by the individual, and other times the license is held by the company. Sometimes a stock purchase is required or a key man employee agreement with the license holder. There are a lot of solutions to address this, and depend on the licensing requirements as to which options are available. We help our clients with this, and I'd be happy to chat further. Feel free to DM me or schedule a complimentary consultation through the link in my bio.
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by a lender
2yrs ago
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
I agreed with Laura. One other option now if you plan to use SBA financing is that you can now do a partial business acquisition. If the seller retains that license, you can keep them in the business with a minority ownership interest until such time as you can secure the license another way. So long as the seller has less than a 20% ownership post close, they will not be required to sign the personal guarantee on the loan.
Most lenders are going to require the license to be in tact at close and are going to want to be sure there are key individuals in place to operate the business. If you would like to discuss in more detail from a financing perspective you can reach me at any time at redacted Good luck.
Most lenders are going to require the license to be in tact at close and are going to want to be sure there are key individuals in place to operate the business. If you would like to discuss in more detail from a financing perspective you can reach me at any time at redacted Good luck.
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