Profitable Niche Market Exit Plans
Selling an Oil Handling Equipment and Supplies Business
We hear from a lot of business owners who are timid about listing their oil handling equipment and supplies business. Despite the mood of the market, we think there are still opportunities to receive a good price for your oil handling equipment and supplies business. Here's what you need to know . . .
You need to get a good price for your oil handling equipment and supplies business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the oil handling equipment and supplies business market and locate potential buyers ASAP.
Broker vs. No Broker
When selling an oil handling equipment and supplies business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your oil handling equipment and supplies business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
When to End Negotiations
If the devil is in the details, the negotiation stage of an oil handling equipment and supplies business sale is the devil's playground. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In an oil handling equipment and supplies business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Selling Time
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their oil handling equipment and supplies business. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
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