Know The Value of Your Propane Business From Honest ExpertsPosted by John Spare on December 22nd, 2016 Perhaps you are thinking about selling your propane business or simply want to know what your net worth might be. What is the value of my propane company? Determining the real worth of your business is important for many reasons—such as if you’re looking to cash out and retire or secure a bank loan to expand your operations. Having a firm grip on the true value of your propane business ensures that you are not shortchanged. The best way to get an honest answer is to consult with assessors who have been in the propane business for decades. Never rely on a bank’s evaluation alone, as they are notorious for undervaluing businesses for their own advantage. You can’t rely on the evaluation of the IRS, either, because they may give you a higher valuation in order to tax you more if you decide to sell your business or leave it in your estate for your heirs. Consulting with experts in the propane business industry is the best way to get an honest answer regarding the value of your propane company. Always talk to someone who truly understands the propane industry. You might be wondering: Is the value of my propane company enough for me to comfortably retire? This is a question you need to ask yourself especially if you are treating your business as a retirement plan. Without a proper and honest assessment, you won’t be able to make an informed decision about your future. Are you selling your propane business and find a prospective buyer’s valuation to be questionable? Then it makes sense to seek a third-party assessment. It won’t hurt to pitch your business to several investors so you can compare their evaluations. The best acquisitions are mutually-beneficial; the buyer should always be transparent about the purchase structure and should be willing to work closely with you until a fair agreement is reached. Knowing the honest value of your propane business can help you make a smarter decision about the next step in your life—whether that means holding on to your business, expanding it, passing it on to the next generation, or selling it and enjoying the early retirement lifestyle. If you’re interested in selling your propane company, remember to look beyond the numbers. You also have to think about how the new owners will honor your legacy. Find out what they plan to do with your employees, or how they plan to serve your loyal customers going forward. 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. ThompsonGas Acquisitions Like it? Share it! More by this author |