Tenney Group is not in the business of motivating transportation business owners to sell. We are in the business of helping transportation business owners make the most of their business sales at a time that is right for them. Every owner’s reason for selling is different. Below are descriptions of five different transportation business owners who have come to Tenney Group recently. Each business owner shared a different reason for selling.
Limousine Business in Houston , TX–Family Time
This business owner is in his late thirties. Though he is earning good money from his limousine and chauffeured transportation business, he is recognizing some of the costs of his success. He has three young daughters and he does not want to miss out on this exciting season of life. He wants to be more involved in their lives.
School Bus Business in Southwest, USA–Retirement
This business owner has reached a point where transitioning to a slower, less demanding lifestyle has become very attractive. The business and business owner are healthy. The business owner recognizes that selling under those conditions will probably provide more options and a better result at the closing table.
Non emergency Medical Transportation Business in NY–Taking chips off the table.
This business owner has a very profitable NEMT business in New York. Though in his early sixties, the business owner is not ready to retire. However, the business is at a point where the owner believes it will attract top dollar. Additionally, healthcare legislation and other unpredictable factors in national and global economy are contributing to this owners desire to “take his chips off the table” now rather than taking a chance on sale at a later date.
A Charter and Tour Business in Northwest, USA– Health
This business owner’s spouse had a serious medical issues. The owner’s spouse requires almost full time medical care. The time and expense required to take care of the spouse is too demanding and too important to continue focusing on the charter and tour business.
Trucking Business Dallas/Fort Worth, TX—Change/New Career Challenge
This business owner is bored. He has operated this business for over five years. Like many entrepreneurs, he is ready for the next challenge to conquer. The business is making good money and there is nothing preventing him from building on his success, except the need for a change.
The takeaway from this article is that selling is a decision every transportation business owner must make for themselves for their own reasons. It should be about your unique personal goals and life circumstances. Very rarely is a sale entirely about money or the economy. Beware of any business broker who tries to motivate you to sell your transportation business. Educate yourself about all the influencers that could affect your business sale, now and in the future, through professionals that understand the transportation industry.