November 17, 2019  
 
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Selling a Business

 

Selling a Liquid and Bulk Storage Business

Market perceptions play a role in your ability to sell a liquid and bulk storage business. Yet great values are always received well in the business-for-sale marketplace. To increase your company's sale price, you'll need to perform adequate preparations, positioning it to the catch the eye of profit-minded buyers.

You need to get a good price for your liquid and bulk storage business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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If you're looking for a reason to wait to put your business on the market, you'll find it. Selling a liquid and bulk storage business isn't easy, but we believe sellers can achieve their goals in any economic environment.

Adjusting Expectations

When you made the decision to sell your liquid and bulk storage business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your liquid and bulk storage business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.

Advertising Your Sale

Profitable liquid and bulk storage business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. The best way to advertise a liquid and bulk storage business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.

Dealing with Tire Kickers

Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. 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.

More Exit Planning Articles

We think you may find these additional resources to be of interest.

Marketing a Liquid and Bulk Storage Business

Why Hire an Exit Planning Consultant

Family Business Exit Plans

Pre-Exit Employee Incentive Programs


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If starting a liquid and bulk storage business is on your agenda, these guides will help you get started:

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