Exit Planning Advice By Market
Selling an Abandoned Tank Filling Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet abandoned tank filling businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
The process of selling an abandoned tank filling business can be one of the most stressful experiences of your entrepreneurial career.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a abandoned tank filling business.
How Much Does It Cost to Sell an abandoned tank filling business?
In an abandoned tank filling business sale, pricing is based on a number of factors, including the costs incurred during the sale. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Timing the Market
Now may be the best time to sell an abandoned tank filling business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on abandoned tank filling businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions abandoned tank filling business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
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