Smart Exit Planning Strategies for Niche Markets
Selling a Gas Station
Maybe you're counting on your gas station to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
It's a fact: Successful business sales take time.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to gas stations that exhibit strong financials and potential for future growth.
What will happen if your gas station is a success? Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your gas station. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your gas station attractive to buyers.
It's difficult to predict where the buyer of your gas station will come from. So you'll need to take a diverse approach to identifying prospective buyers. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Selecting a Broker
First-rate business brokers deliver prospects and profits to their clients. No two gas station sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling gas stations.
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