Business Exits By Industry
Selling a Crude Oil Purchasing Business
A lot can go wrong during the sale of a crude oil purchasing business these days. We'll tell you how to keep your sale and your future plans on track.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Despite the conventional wisdom, we believe current economic conditions are right for selling a crude oil purchasing business. We'll tell you what you need to know to achieve a successful sale outcome
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the crude oil purchasing business-for-sale market, where aggressive selling strategies are the norm. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your crude oil purchasing business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Hoping for a quick crude oil purchasing business sale? You may be disappointed. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. Before you can list your crude oil purchasing business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized crude oil purchasing business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Have Friends Who Might Like This Article?
Let them know on LinkedIn
Ready to Learn More? We Think You Might Like These Articles:
Additional Resources for Entrepreneurs