Business Exit Planning
Selling a Minerals, Oil, and Gas Investments Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a minerals, oil, and gas investments business sale. At Gaebler, we think it's a great time to sell a minerals, oil, and gas investments business. Here's why . . ..
You need to get a good price for your minerals, oil, and gas investments 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 minerals, oil, and gas investments business market and locate potential buyers ASAP.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your minerals, oil, and gas investments business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based minerals, oil, and gas investments business sale can be more complicated than selling to a stranger. In fact, selling your minerals, oil, and gas investments business to a family member can quickly become a no-win proposition. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.
Brokerage Benefits
There are many reasons why hiring a broker makes sense in minerals, oil, and gas investments business sales. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. 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.
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