Exit Planning Techniques By Market
Selling a Freight Trucking Business
The sale of a freight trucking business can be a difficult and trying process. We'll tell you how to thrive in the middle of it and get top dollar for your company.
You need to get a good price for your freight trucking business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
You'll always have an excuse for not putting your business on the market. Any freight trucking business can be sold at any time -- you just need to know how to influence the right buyers.
Tapping Into Business Networks
Today's freight trucking business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. Time and time again, successful freight trucking business sales emerge from relationships within the industry. The challenge is to leverage industry connections while keeping knowledge of the sale hidden from your competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Finding Freight Trucking Business Buyers
Buyers of freight trucking businesses run the gamut. Some are seasoned freight trucking business veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Networking is another useful tool in locating buyers. It might surprise you to learn how many freight trucking business buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
Sale Preparation Timeframes
It's critical to properly plan for the sale ofa freight trucking business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your freight trucking business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
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