Director of Development
The propane and oil industry has a well-known reputation for adapting to change and emerging stronger on the other end. This has been particularly true in recent years, as owner-operators have faced some of the toughest challenges in history. With the pandemic forcing businesses to change their operations and adopt new safety protocols, the way of doing business has undergone significant changes. This, combined with the growing presence of large consolidators who are taking over family-owned businesses and expanding their national brands in local markets, has forced many second and third-generation owners to consider selling their businesses. Some have found that their children are not interested in continuing the family business, while others have opted to take advantage of high values and exit the industry to focus on other ventures.
For family business owners who are feeling pressured to sell, or those who are unsure how to compete, there are options that do not involve selling everything. It is possible to take control of your options and develop a plan to achieve your desired goals, whether that means building generational wealth, creating opportunities for key managers or family members, or simply staying in the industry you love.
Get a sneak preview through the “Create Control Over Your Energy Business” video series.