Many pumpers are experiencing busy times and borrowing interest rates remain low. So it could be a good time to seek funds to update equipment, buy another business or hire more technicians.
A rock-solid succession plan can save the day when the leader of a family pumping company passes away unexpectedly.
Most family businesses claim to have a succession plan in place, but many of those are informal, increasing the chance that a transition of business ownership might not go smoothly. Here are some tips to ensure a solid plan is in place.
Change is constant in the small-business marketplace. Evaluate your road map to success and make changes to ensure a brighter future.
Even if you’re years away from hanging up the vacuum hose for good, financial experts say pumpers should frequently check on the status of their government retirement benefit and adjust plans accordingly.
Details of an exit plan for your company should be worked out when you open the doors — or even earlier
When planning for a pumper’s retirement, first tally your projected monthly expenses and then work toward a realistic nest egg.