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CEPA® | CMFC® | APMA®| Registered Representative of Principal Funds Distributor, Inc.

The year was 1955, and homeowners couldn’t imagine adjusting their furnace from across the room, let alone through a mobile app on their drive home. Long before our everyday lives became digital, siblings Bob and Maurice Bell founded Bell Brothers, their heating and cooling business in Des Moines, Iowa. Back then, the brothers simply followed the installation of natural gas lines throughout the city to build their business, converting furnaces from burning coal to gas. Today, everything about the business has changed. Bell Brothers employs 90 people working on vastly different equipment, and the company is in the hands of its second family of ownership, the Gassmanns. Chuck Gassmann, 65, started working at Bell Brothers in 1995 and took over in 2011. Last year, the company hit a staple milestone for small businesses everywhere: a business succession. His son, Jason Gassmann, 42, bought the company from him. Strong succession plans are focused on 6-key steps. Timing: Decide when to transition out. ⏱️ Price: Determine what your business is worth. 💰 Successor: Identify a buyer. Partners: Hire expertise outside your company. Path: Choose how to sell your business. Personnel: Consider key employees who will help power the company’s future. There’s more to this story… check out the link! https://lnkd.in/gb9CWmGH

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