Roofing contractors work tirelessly to build and grow their businesses. After long hours and substantial risk-taking, the business owner has created an asset that, if transferred efficiently, could provide financial security for themselves and their families. We’ve found that most owners have about 70 percent of their wealth trapped inside their illiquid business, and research supports this.
According to PricewaterhouseCoopers — a multinational professional services network headquartered in London and the second largest professional services firm in the world — 75 percent of a typical business owner’s net worth is tied up in their company. Perhaps, more surprisingly, only 22 percent of those owners have reported doing any succession planning.