Advice on Niche Market Exit Planning
Selling a Tank Installation and Removal Business
You've heard the naysayers - now isn't the time to sell a tank installation and removal business. But what they don't know is that many entrepreneurs see tank installation and removal businesses as a smart business investment.
In a down economy, many tank installation and removal business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of tank installation and removal businesses that are actually for sale.
However, serious buyers also understand the value of a good tank installation and removal business. So for tank installation and removal business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Family Issues
Many sellers embarked on their tank installation and removal business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling a tank installation and removal business has to include ample communication and shared decision-making.
The Case for Confidentiality
Highly publicized tank installation and removal business sales are risky tank installation and removal businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Successful sales walk a fine line between total confidentiality and aggressive promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Handling Unexpected Outcomes
If you're smart, you entered your tank installation and removal business with a set of assumptions about what it would achieve. 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. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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