Sell Your Propane Company To A Respected and Experienced Propane Company
Posted by Sellmypropanecompany on November 28th, 2016
Many factors can make a business decide to sell. One of the reasons may be the increasing cost of running the business compared to revenue received. Another reason might be an economic slowdown impacting that particular business segment. A common reason might be a company is trying to make a profit by selling their existing business in order to grow in a different direction altogether.
Before you start the process of selling your propane company, you must ensure the margins have been increasing consistently for at least a few months. It would be sensible to keep all financial records – revenues and expenses – in order. If you have a small window of time before selling the company, try to increase the long-term contracts of larger accounts.
A few factors to contemplate before you consider selling your propane company to a respected and experienced propane company include:
Comprehensive Evaluation of your Business
Before you enter the market and ask for an unrealistic price for your propane company, it would be prudent to get a fair evaluation of your business. It will help you price your company accurately while attracting more potential buyers. It will also enable you to handle any issues related to the finances of your company before beginning the process of selling your propane business.
Choosing a Reputed Buyer:
Before you hand over all of the customer and employee information in addition to your valuable business assets, you must do extensive research on prospective buyers. The company must be in the propane business for many years in order to handle your business properly. Going through the buyer’s records and margins of the past couple of years is also advisable. Checking out reviews online or contacting their customers for feedback about their service will also help you get a good idea about the capabilities of the company.
Protecting Your Employees and Customers:
Once you have chosen a few reputed propane companies, you must discuss the future of your employees with this new company. You must ensure your employees do not get fired or demoted after the acquisition. The transition must be smooth for both you and your employees. Do not hand over any customer data until you are hundred percent sure about the buyer.
Win-Win Exit Strategy:
You should be able to establish a win-win strategy with your buyer. Many buyer companies do not allow the sellers to start a business in the same segment to avoid any future competition. If you plan on starting a business in the same niche, you must have a clear clause stated in the agreement. Ideally, the buyer must also retain all of your employees at their current positions and pay scales. This will help keep all involved productive and positive.
In any case, if you are planning to sell your propane company, make sure you choose a well-established and respected company. They must also have an outstanding reputation for customer service and employee satisfaction.
About the Author:ThompsonGas Acquisitions is a Division of ThompsonGas – purchasing small to mid-sized propane companies. The ThompsonGas family understands every propane business comes with a unique set of specific needs. Like leaves on a tree, no two propane acquisitions are the same. When you choose to sell your propane company to ThompsonGas they are committed to working with you to ensure the agreement suits your requirements as well as theirs.
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