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:
- Get your company records in very good order. Anyone serious will want to review them.
- Make sure your as many of your propane tank agreements are signed as possible.
- Work towards trending upwards margins.
- Stop selling propane tanks and focus instead on leases.
- Begin working with your accountant to get your revenues and expenses under control.
- 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.