Profitable Niche Market Exit Plans
Selling an Oil Field Equipment Rental Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the oil field equipment rental business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling an oil field equipment rental business whem market conditions threaten a successful business sale.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an oil field equipment rental business sale works.
At Gaebler, we think that's a mistake because with adequate preparation and the right sale strategy, this might be the best time to put your oil field equipment rental business on the market.
The Best Person to Sell Your Oil Field Equipment Rental Business
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your oil field equipment rental business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the oil field equipment rental business to gain an objective sense of fair market value.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your oil field equipment rental business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
Why Confidentiality Matters
Highly publicized oil field equipment rental business sales are risky oil field equipment rental 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. When and if your sale becomes public knowledge, competitors can use that information to weaken your position in the marketplace. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.
Share this article
Additional Resources for Entrepreneurs