Reading an FM business listing like an expert

Turn attractive phrases into documentary questions

Test an FM listing's contracted income, coverage, service scope, customer concentration and adjusted profit with a fillable decoder.

For buyers 12 pages 9-minute read Updated Oct 2026

Who this guide is for

For buyers comparing FM businesses whose listings use broad claims about contracts and coverage. Use it to decide which documents to request and define your buying criteria.

What you will take from it

  • Separate current signed income from renewal expectations.
  • Map delivery and customer relationships behind the site list.
  • Reconcile adjusted profit before comparing businesses.

What is inside

  1. What does contracted mean?
  2. Who delivers national coverage?
  3. What sits inside full service?
  4. How many customers sit behind the sites?
  5. Which profit is the listing quoting?

The tool: fM listing decoder

Record each listing claim, the document behind it, its scope and your next question. Tick the records you have read.

It comes as its own file as well as a page of the guide.

Two pages from the guide

Page 4 of the guide
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Page 10 of the guide
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Get the guide

Tell us who you are and the guide opens on this page, with the fM listing decoder as its own file.

PDF 12 pages 527 KB

Your details go to Simon Read's team at FM Business Sales. We do not sell them or share them for marketing. Privacy policy.

Simon Read

Prepared by Simon Read

Founder & Managing Director, Reads Advice Partners Ltd

Simon founded Reads M&A Advisory to specialise in trades such as HVAC, electrical, fire safety and facilities management, and has spent many years selling businesses to independent buyers, trade companies and private equity-backed groups across the UK.

Updated Oct 2026. The Autumn Budget is scheduled for Oct 2026, and we review every guide after it.

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