At the Fortune Company, we know that buying and selling in the gas station/convenience stores and hospitality industries can be especially complicated. If you’re new to either of these industries, you’re even more likely to feel overwhelmed and anxious about your first major purchase. Let the Fortune Company help.
Founded by Al Rosellini, the Fortune Company provides services for those looking to buy and sell hotels, motels, and gas stations across the Pacific Northwest. Al Rosellini has over 35 years of experience in the industry and knows just how confusing and complicated some of the steps can be. To help you get a better idea of what to expect, here are some of the most frequently asked questions heard from clients in the past.
Ideally, you should get a market valuation on your business property. This way, you can be sure that you’re getting the right price. Al Rosellini at The Fortune Company offers market valuations for hotels, motels, and gas stations at no cost obligation. Estimating the value of a business property can be extremely complex, and it’s best to have it carried out by an experienced and knowledgeable professional. Visit the market valuations page for more details about why it’s important.
The single most important factor in selling your business is pricing it correctly. Since business owners are typically not privy to sales of comparable properties in their industry they must rely on professionals that do have that information. For both hotels and gas stations, Fortune Company has the two critical elements to ensure that the valuation you are provided is reliable. First, a database of comparable sales second to none. Second, 35 years of experience and objective judgment to refine their valuation.
The length of the process can depend on a wide variety of factors. Buying or selling a hotel or a gas station can come with unique sets of challenges, all depending on the location of the business, demand for services, industry trends, and the experience of both the buyer and the seller. It can also depend on whether the help of a professional broker has been employed.
Typically, if a business property is priced correctly it may take 2-3 months to find the right buyer and an additional 2-3 months to close the transaction.
Hopefully, you’ve found a little more clarity about buying or selling a hotel or gas station here, especially if you’re new to the industry. If not, you can certainly see that many other clients have questions of their own and that the Fortune Company is here to help. If you have questions of your own, or you need help with your buying or selling process, contact Al Rosellini at the Fortune Company today. You can also take a look at our current hotel listings and gas stations for sale.