As small business owners, we know many of our members have a DIY approach to many parts of the industry. From hiring, to determining policies, to growing your business, many of the things that dictate success of service stations are self-generated by owners. When it finally comes time to sell your petrol station, it can be tempting to handle that alone, too. But before you commit to handling the process yourself, it may be worth looking into getting a business broker.
While an expense, hiring a broker to sell your service station can pay off quickly. Not only do brokers often save sellers time, but they enhance the safety, confidentiality, and navigate the negotiation of the sale. Here are some great reasons why hiring a business broker to sell your petrol station may be the best move for your business.
Streamline Negotiations
While you may be confident in your abilities as a business owner, the ability to aggressively negotiate is often a skill that takes years to hone. A business broker can help by removing the pressure for you to hammer out the best deal yourself. It’s their job to ensure you are getting a fair price, and they can direct conversation in the right direction.
Brokers prevent you from signing bad deals, and will go out to bat for you should the sale of your business take an unexpected turn. If you don’t feel confident in your own powers of negotiation, having a business broker will allow you to have peace of mind knowing that someone with the right knowledge is in your corner.
Secure a Quicker Sale
“Time is money” is one of the oldest phrases in the book. That sentiment is especially true when it comes to selling any small business, including your service station. The longer a sale takes, the more out of pocket expenses you will have. Hiring a business broker can help expedite the process of your sale in a big way.
While you may have a vague idea of the market, your broker has a long list of connections and professional resources to help aid in a faster sale of your service station. They have the ability to reach out to potentially interested buyers, and use this network to sell your business quickly.
A Pre-Existing Network
As mentioned, business brokers are at an advantage, as they have a long list of contacts and industry connections to pull from when managing a sale. This network not only provides expedited selling of your service station, but allows those interested in buying to be fully vetted.
It’s important to sell to someone you can trust. A great broker has already done this legwork to find good candidates who are the right fit for your business. Overall, the more qualified buyers you have looking at your petrol station, the better, and a great business broker can make this possible.
Simplify The Paperwork
Even if you have a great, qualified buyer and are posed to make a sale, almost any business owner hates the headache of paperwork and drafting contracts. Business brokers take all of this off your hands.
They work in your best interests to create tight contracts that protect your rights as a seller, and guarantee that all terms and conditions of the sale are approved. This can save not only a lot of time and headaches, but can prevent you from putting forth a potentially insufficient contract that could cost you money in the long run.
Marketing and Advertising
While you may know everything it takes to run a successful business, when it comes time to sell your business, it can be difficult to understand how to market or advertise your property in the right way. Business brokers have the knowledge and tools to quickly and effectively market your service station to interested buyers.
They put together all of the sales content needed, and make sure your listing is as compelling as it can be. Because business brokers often make a determined amount of money from the sale of your business, they are highly motivated to sell quickly and at the best price possible.
Objectivity
When selling your business, it can be hard to let go. Many of our members have built their petrol stations from the ground up, and the idea of selling even when necessary can be hard. This can get in the way of selecting qualified buyers, and can prevent you from viewing the sale of your business from a practical standpoint.
Business brokers offer an objective look at the situation. They are able to assess the value of your business correctly, and have no qualms about moving the process forward. Using a broker can help you distance yourself from the selling process, allowing you to move on easier, and feel more confident and relaxed about the sale of your business.
A Business Broker May Be Right For You
If you’ve been trying to sell your petrol station and are having troubles finding the right buyers, or are simply too emotionally invested in the process, finding a great business broker can help.
While they may come at a cost, they are very effective at closing sales, reducing time spent on the market, and negotiating a great deal. If you’ve been struggling to sell your petrol station and are looking to try something new, a business broker may be the right approach for you.
If you would like to discuss selling your petrol station, get in contact with me on 0490 415 063 or [email protected]