Profitable Niche Market Exit Plans
Selling an Oil Well Logging and Perforating Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for an oil well logging and perforating business sale. But in reality, now may be the perfect time to sell an oil well logging and perforating business.
Are most buyers timid about buying an oil well logging and perforating business in today's economic environment? You bet.
Despite the conventional wisdom, we believe current economic conditions are right for selling an oil well logging and perforating business. We'll tell you what you need to know to achieve a successful sale outcome
Selling Time
Hoping for a quick oil well logging and perforating business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. On average, it takes a minimum of six months to prepare an oil well logging and perforating business for sale and many sellers spend a year or more positioning their business to command a higher price. In a good market, an attractive oil well logging and perforating business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Most oil well logging and perforating business have significant tax consequences requiring the input of a qualified accountant. A professional audit can ease buyer concerns and amp up the value of your financial presentation. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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