Monday, January 7, 2019
Selling Your Gas Station and Convenience Store Business
Source: NRC Realty & Capital Advisors, LLC
As an experienced convenience store operator, you may believe that you know everything there is to know about selling gas and merchandise. But selling your business is another matter. The questions of what steps to take when selling my gas station or selling my convenience store business come up frequently during discussions with prospective buyers.
Gas stations and convenience stores are complex operations
Anytime that operations are include real estate, there are a lot of moving parts for a seller to manage. For starters, it is necessary to provide a potential purchaser with key financial and supplier information, including:
- Three years of financial statements
- Environmental documentation
- Fuel agreements
- Franchise or other agreements
- Lists of inventory and fixtures
Selecting qualified financial advisors and title companies is a very important decision to ensure that a sale proceeds smoothly.
Marketing your gas station or convenience store
Digital marketing has made it easier to cast a wide net, and services such as Loopnet and Costar provide a platform to search for properties with particular characteristics. In the gas station and convenience store industry, there are a limited number of firms dedicated to selling these assets, and even fewer firms that have an insider's knowledge of how to target potential buyers for portfolios and individual assets.
At NRC Realty & Capital Advisors, LLC we understand the nuances of how to present a gas station or convenience store business for sale to attract serious buyer interest. Despite the fact that the demand for convenience stores for sale and gas stations for sale may exceed the available supply, it does not necessarily mean there will be demand for particular assets, and managing offers from multiple buyers requires aggressive representation in order to avoid pitfalls and maximize price.
Retaining the services of a specialist company like NRC can ensure that the preparations for selling your business are handled with absolute professionalism and attention to detail.
To see a list of convenience stores for sale and gas stations for sale, click here.