Thoughts & Advice

When preparing to sell your propane company, here are a few things to consider!

Considering selling your propane company? What do you need to do and when? Without a doubt you want to make as much money as possible and pay as few taxes as possible. Now, we’re not lawyers or tax consultants, but here are a few things to consider if you are a few years out from selling your propane company.

Consider these items:

  1. Get your company records in very good order. Anyone serious will want to review them.
  2. Make sure your as many of your propane tank agreements are signed as possible.
  3. Work towards trending upwards margins.
  4. Stop selling propane tanks and focus instead on leases.
  5. Begin working with your accountant to get your revenues and expenses under control.
  6. Keep a close eye on your receivables accounts to keep them at a minimum.

Before you try to sell your company, there is some definite housekeeping you need to attend to. It’s best to begin thinking about these things in advance.

At ThompsonGas, we have a well-designed acquisitions model that will help you address many of these types of issues so when it’s time to sell, you’re ready.

When Is It Right To Sell Your Propane Company?

As the owner of a propane business, ‘when and how do I sell my business?’ is a really important question? How can you know when it’s the proper time to sell your propane company? What’s right for you and your family? What tax implications are there to consider? There are so many variables to thing about: Will your customers still receive the incredible service they’ve come to expect? How will a sale affect your employees and their loyalty to the company? What will the future hold for you? Continue reading

Propane Sellers Have Options

If you’re considering selling your propane company, you’ll be happy to know that with ThompsonGas you have options. We have successfully facilitated many propane acquisitions and understand that every propane business comes with a unique set of specific needs. The majority of our purchases have fallen into one of the following categories:

The Propane Seller Exits the Industry

This is the most traditional situation. In this case, the propane seller is looking forward to retirement and is prepared to move onto to the next stage of their life.

The Propane Seller Transitions Gradually from The Industry

There are certain instances in which the propane seller prefers to remain with the company for predetermined period of time, usually taking on a smaller role in order to acclimate and introduce employees and customers to ThompsonGas.

The Propane Seller Remains with ThompsonGas

For some propane sellers, remaining active in the business is a priority. We have had great success in specific acquisitions in which propane sellers have selected to remain with ThompsonGas, continuing their career with a true industry leader.

Learn more about the ThompsonGas acquisitions process. Please feel free to contact me, Dan Carrigan at 913-638-8677 or Jeff Kerns at 301-432-3882 for a confidential discussion.

Preparation and Research are Important When Selling Your Propane Company

Before you start discussing the sale of your propane company, you will want to prepare for the process. Often propane business owners are surprised to learn that the details of how their company operates and the ability to detail their business success in a complete package is a necessary and challenging task. You will want to take a broad look at your operations and make improvements in any areas of weakness. By taking time to prepare in advance, you will be able to maximize the value of your business.

When looking for a company to acquire your propane business, you will want to do your research before making a decision. You’ve worked hard to build a successful propane business and you want to make sure you choose a reputable company. The following are some important questions to consider:

• Does the company’s values and mission align with yours?

• Will the company provide exposure, growth and financial stability?

• Does the company have a transition plan for your customers and employees?

• Will the company maintain your legacy and tradition of excellence?

• Does the company give you the option to remain involved with your business?

• Will the company pay the proper value of your business?

Selling your propane business is an important undertaking. ThompsonGas has successfully acquired and integrated many propane businesses like yours. We can help you determine what you will need if you are thinking of selling your business either now or in the future.

Learn what is required to sell your propane company. We have been in business for over 70 years and know from experience that we can help. Discover the ThompsonGas difference!

Let our experience help you – Contact us today!

Parting from Your Propane Business Doesn’t have to be Stressful.

I’ve been working in the propane industry for many years and have seen quite a bit in my career. I’ve worked with propane business owners who couldn’t wait to sell their company and others who were full of mixed emotions. The truth is, selling your propane business, especially if it’s been in your family for decades, will cause a variety of feelings.

Leaving your employees and propane customers, many who have become more like family, can be difficult. Anyone who tells you it’s easy to leave long-term industry colleagues, stellar employees and satisfied clients aren’t really being truthful.

There are propane business owners out there now who know it’s the right time to look into selling their propane company. Maybe their children have no interest in continuing the family business. Perhaps they realize the importance of succession planning but simply have no one to turn the reigns over to. In certain instances some propane owners feel their service area is too far off the beaten path to even attract a buyer.

Regardless of why an owner feels they need to sell their propane business—no matter the size or location—we’re here to help. ThompsonGas takes great pride in ensuring the propane companies we acquire are in good hands, focusing not only on the business owner but also on the future of the current employees and overall satisfaction of the client base.

Retiring from your propane business doesn’t have to be a stressful when you choose to sell to a dedicated, sincere and trustworthy company like ThompsonGas.

Learn more about the ThompsonGas acquisitions process. Please feel free to contact me, Dan Carrigan at 913-638-8677 or Jeff Kerns at 301-432-3882 for a confidential discussion.

ThompsonGas Propane Acquisition Success Stories

In business for over 70 years, the ThompsonGas family has seen and experienced everything involved within the propane industry. We’ve been through the good times as well as the bad. Our team has braved brutal winters and treacherous roads in order to ensure our customers received their deliveries on time. We specialize in mobilization, having access to propane even in the most difficult times. Perhaps our biggest strength is our ability to systemize operations, bringing other propane businesses into the fold without missing a beat, specifically in regard to employee and customer retention as well as maintaining steady profits.

The achievements of our past propane business acquisitions speak for themselves. Here you will find a brief sampling of just some of our success stories:

Kentucky:

A propane owner, in the industry for several decades and approaching retirement, selected ThompsonGas based on our reputation for retaining loyal employee.

All of the employees are still with ThompsonGas and have actively contributed to increasing the original customer base.

Georgia:

Husband and wife business owners, both loving the operations end of the propane business, felt overwhelmed with the pressure of being the sole proprietors.

Choosing to sell to ThompsonGas, they are both currently employed with the company and are an integral part of our regional operations throughout Georgia.

Alabama:

In a unique case, propane owners realized they had grown their business much too quickly, requiring more working capital in order to continue operations.

By joining ThompsonGas, they have access to funds providing a renewed sense of career security, industry activity and business success.

We understand your situation better than anyone, and we can help. Our propane business focuses on acquiring propane companies, just like yours, maintaining your legacy in a manner that large entities simply don’t have the experience or desire to do.

Learn more about the ThompsonGas acquisitions process. Please feel free to contact Dan Carrigan, 913-638-8677 or Jeff Kerns, 301-432-3882 for a confidential discussion.