Business brokers specializing in the transportation industry shouldn’t be in the practice of encouraging or pressuring owners to sell their companies. Instead, those facilitating the sale of transportation companies should strive to make sure their clients are selling at the right time and for the right reasons.
Here we’ve compiled a few of the reasons why transportation business owners have decided to sell their companies recently:
More time with family
An owner of a limousine business in Houston, TX was making a good deal of money from his chauffeured transportation company, but started to realize some of the costs of success. In his mid-thirties, this owner has three young children at home and decided to become more involved in this exciting time of their lives.
Another seller was the owner of a school bus company who had reached the point in his life where he was ready to begin transitioning into a less demanding lifestyle. Because both the business and the owner are healthy and in a strong bargaining position, this owner decided now is the time to get the best result at the closing table.
Taking chips off the table
One owner in New York decided it was time to sell his non-emergency medical transportation (NEMT) business this year due to uncertainty about the future of his industry. While still relatively young and not ready for retirement, this owner decided against operating in a poor economic climate and is confident his business will now fetch top dollar on the open market.
The owner of a charter and tour company in the northwest US decided to begin the process of selling his business after his spouse suffered a stroke. The spouse requires nearly full-time medical care, and this business owner thought the situation too important to continue operating the company.
Change/New Career Challenge
This business owner, in Ft. Worth, TX, has been operating his company for over five years. He’s decided his entrepreneurial instincts require him to move on in search of greater opportunities and challenges. His need for a change of pace is the only factor in his decision, as the company is making good money and functioning efficiently.
Selling one’s transportation business is a personal decision which must ultimately be made by the owner of the company. Very rarely are money or economics the only motivating factors in selling a business; any business broker who tries to pressure you into selling is not working with your best interests in mind.
If you are contemplating selling your transportation business or are would like to receive a custom valuation of your transportation related business, contact The Tenney Group, expert business brokers for the transportation industry. We’re here to offer our services without pressure and to help your transportation business succeed.