If a transportation business is beginning to cause emotional, personal, and professional stress in your life, you may have reached a point where it has become necessary to get your company professionally appraised and sell it. However, selling your transportation company may come with a whole list of worries and anxieties.
You may wish to hold onto a business you have owned many years. You may fear what new ownership means for the business and its employees. You may be unsure of where to look for help. With all of these anxieties and fears, you are probably also concerned that there isn’t really a market for your particular business in this economic climate.
However, that is not necessarily the case. Before you allow your business to overtake your life, it may be important to identify just who is looking to purchase a transportation company right now.
Existing School Bus, Tour Bus, and Charter Bus Businesses Nationwide
This group of potential buyers may recognize specific benefits of purchasing your company. They may be interested in gaining your current customer accounts. They may also be aware that your company is in the middle of expansion plans. The future potential and opportunities are something that the buyer must extensively research. Don’t assume that your company doesn’t have anything special to offer a buyer.
Although they are the companies that you have competed against for years, they just might have an interest in your company. It can sometimes be difficult to market to competitors because they may be aware of any problems or issues your company has/had. However, after they put personal and preconceived ideas aside, they can often quickly see the potential and future in the purchase.
Many high paying professionals have recently lost their jobs due to layoffs. They are accustomed to receiving high yearly salaries that allow them to live a higher lifestyle. When they lose their job, the thought of leaving this type of lifestyle is often too hard. They may be looking to make the rules and earn their own company a lot of money.
So if you are considering selling your limousine, trucking, or ground transportation business, do not feel discouraged or assume that buyers won’t be interested. There are many reasons and factors for buyers to take into account. Your company has individual and special characteristics that one particular buyer just might be looking for. The best thing that you can do is seek advice and assistance from a third party intermediary or experienced transportation industry business broker. They will be able to pinpoint just what qualities of your business to market.
The Tenney Group has been facilitating transactions of transportation businesses for over thirty-five years, specializing in business sales, mergers, acquisitions, and post-transaction services. We have experience dealing with a wide variety of companies in the ground transportation industry, including trucking, freight hauling, ambulance, school bus, and limousine businesses. Contact Spencer Tenney at the Tenney Group for expert assistance when buying or selling a transportation company.