Sooner or later, all good things run their course, often for any number of reasons. For every ongoing success such as The Rolling Stones you have hundreds of other great bands who just had to break up….like The Beatles. Or what about all those years Albert Pujols thrilled baseball fans in St. Louis? Now he’s doing the same thing, but only in an L.A. Angels uniform. Heck, even more recently David Letterman decided to retire from late night television after over three decades just last year. Change—it’s inevitable.
As Jeff always likes to point out, it all comes down to choosing the right time to sell your propane company—and that, as you know, can only be decided by you.
But what if you’re ready to sell your propane company? Regardless of the reason, you can’t just go out front of your office and place a “For Sale” sign in the parking lot…well, you could, but don’t expect to get many takers…more likely that route will see you being taken to the cleaners!
The first thing you’ll want to determine is how much your propane company is truly worth. Here at ThompsonGas we call this identifying the fair market value. This step is crucial in ensuring you have a genuine understanding of the real worth of your propane business. There have been instances where propane business owners have greatly underestimated their value, while, on the other hand, some have had some really inflated number in mind. The key is to really dig into your propane business and see what assets you have available that makes your propane company appealing to buyers.
A detailed Business Valuation will help you to eliminate any of the guesswork involved in selling your propane company. This is a great place to start, but it doesn’t end there. You’ll also want to ensure you sell your propane company to an industry leader, someone who has been to the dance before, experienced at taking care of your employees, customers and reputation built over several decades.
Jeff and I are here as a resource to propane business owners, just like you, who know the time has come to sell their propane company, but could really benefit from professional guidance on just how to get started. Please feel free to give me a call at 913.638.8677 and I’ll be happy to answer any of your questions regarding how to go about selling your propane company.