The Importance Of Succession Planning For Your Propane Company

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Ask any small business owner, propane related or otherwise, and they will tell you how important it is to hope for the best while planning for the worst. Many propane companies are family owned and have passed through multiple generations, much like ThompsonGas. But what happens if your family propane business isn’t prepared for the death of the business owner? I certainly hope that doesn’t come across as morbid, but when it comes to caring for your propane customers, employees and well being of your family, everything should be considered ahead of time. Succession planning is just sound business, and if you haven’t taken measures to ensure your propane business is protected, to say it’s a good idea to do so now is a huge understatement.

Perhaps you are the person currently entrusted with having the final word on all of your propane company’s business matters. What would you like to see take place in the event you were no longer able to make all of the daily decisions that keep your propane business profitable?

The succession plan for your propane company should address very specifically what your intentions are should you become ill or pass away. In many instances, propane business owners consider selling their propane company to a qualified business such as ThompsonGas. Dan and I will be happy to speak with you regarding your succession plan options. Perhaps you would like to develop and train a replacement to take over operations of your propane company, but want to be certain they will be working with a team of seasoned propane professionals. If so, we can help.

Remember, without a detailed succession plan in place for your propane business your customers, employees, spouse and family members can be exposed to a wide variety of negative circumstances. Wouldn’t it be better to make these all important decisions now, rather than leaving your loved ones wondering how precisely you would have wanted things to occur?

Feel free to call me directly at 301.432.3882 or Dan at 913.638.8677. We will be happy to discuss your succession plan and the possibility of selling your propane company to ThompsonGas.