Selling a Company Advice
Selling an Underground Storage Tank Business
Is the economy still a little shaky for a business sale? Sure it is. Yet underground storage tank businesses haven't been deterred. In fact, we think this economy is a ripe environment for a underground storage tank business sale.
You've invested too much in your underground storage tank business to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
Growth-minded entrepreneurs also find an appealing underground storage tank business hard to pass up. So for underground storage tank business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Advantages of Hiring a Broker
Brokers give underground storage tank business sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
Negotiating Your Sale
There's no room for error when you negotiate the sale ofan underground storage tank business. More often than not, the person with the most knowledge will come out on top in an underground storage tank business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
Average Preparation Time
There are no effective shortcuts for selling an underground storage tank business. For starters, the financials need to demonstrate a track record of profitability and growth. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a underground storage tank business can rarely be ready for the marketplace in less than six months. However, to command the highest price, you'll probably need to spend one to two years preparing and positioning your business for buyers.
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