Profitable Niche Market Exit Plans
Selling an Oil and Gas Well Drilling Business
Don't believe anyone who tells you it's easy to sell an oil and gas well drilling business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
When the economy recovers, we expect to see a sudden influx of oil and gas well drilling businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
But at Gaebler, we see oil and gas well drilling businesses still selling at a brisk pace. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Maximizing Sales Price
There are no simple ways to sell an oil and gas well drilling business. If you don't know what you're doing, your business could languish on the market for months or even years. A business broker handles much of the legwork involved in the sale. Solo sellers usually find that it's simply too much to sell their business and lead it at the same time. Subsequently, they settle for less than the business's potential sale price. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their oil and gas well drilling businesses.
Advertising Your Sale
Successful oil and gas well drilling business sales begin with a carefully planned advertising and promotional strategies. But confidentiality issues are a hurdle you'll need to address before you put your oil and gas well drilling business on the market. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. The best way to advertise an oil and gas well drilling business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
Workforce Concerns
Business sellers walk a fine line when it comes to preparing their employees for a sale. The more people who know that the business is on the market, the riskier the sale becomes. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the oil and gas well drilling business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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