May 29, 2020  
 
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Selling a Business

 

Selling a Gasoline Wholesale and Manufacturers Business

Your gasoline wholesale and manufacturers business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.

Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
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If your exit strategy involves selling a gasoline wholesale and manufacturers business now, sellers need to make a strong case for buyers to purchase at or near the asking price.

Finding Prospects

Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for gasoline wholesale and manufacturers businesses than other buyers.

When to End Negotiations

Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.

Advantages of Hiring a Broker

A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.

More Exit Planning Articles

Given your interest in exit planning and in gasoline wholesale and manufacturers businesses, you might find these additional resources to be of interest.

Marketing a Gasoline Wholesale and Manufacturers Business

How Much Is My Business Worth?

What Does a Business Broker Charge?

Terms of Investment Banking Agreement


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