Advice on Niche Market Exit Planning
Selling a Tank Disposal Business
You've heard the naysayers - now isn't the time to sell a tank disposal business. But what they don't know is that many entrepreneurs see tank disposal businesses as a smart business investment.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a tank disposal business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Sale Preparation Timeframes
There are no effective shortcuts for selling a tank disposal business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your tank disposal business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Professional Appraisals
There is no substitute for a qualified appraisal in the sale of your tank disposal business. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Finding Tank Disposal Business Buyers
It's difficult to predict where the buyer of your tank disposal business will come from. Avoid pigeon-holing your search to a single buyer category. That means listing your tank disposal business in trade-specific directories as well as general business-for-sale databases. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
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