Profitable Niche Market Exit Plans

Selling an Oil Well Surveyors Business

Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet oil well surveyors businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.

The oil well surveyors business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.

If your exit strategy involves selling an oil well surveyors business now, sellers need to make a strong case for buyers to purchase at or near the asking price.

Average Preparation Time

Preparing an oil well surveyors business sale takes time. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. Since all of this takes time and effort, a oil well surveyors business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.

How to Skillfully Address Buyer Concerns

Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.

Advantages of Hiring a Broker

There are many reasons why hiring a broker makes sense in oil well surveyors business sales. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. 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.

Share this article


Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary