Is now a good time to take the chips off the table and sell your business? Selling your transportation business is one of the biggest financial decisions you will ever make. Remember, you get one chance to sell your business!
The Tenney Group specializes in one thing: transportation business sales. Our most important purpose is to accomplish the goals for our clients. In more than 40 years of experience, we have come to the conclusion that every business owner dreams about selling their business when both the economy and the business itself are peaking. But in the unique and ever-changing transportation industry, things are different. Sometimes it is better to sell sooner rather than later.
And here are the main reasons:
- You Are Slowly Killing Your Business
Have you ever thought that, on the quest for perfection, you may be slowly killing your business? At the very beginning, you are confident in taking risks just to grow your transportation business but as time passes by you become more and more reluctant to changes and improvements and the decisions you make don’t build value and don’t support growth anymore. Or, maybe, you want to take your business to the next level, but you don’t have the capital to do that. You have to realize that this attitude is slowly killing your business. Given these situations, you should consider selling the business. Selling means a new chapter for yourself and your company.
- Your Business is Too Big
You know your transportation business has grown enough and can attract top dollar. But there are unpredictable factors in the national and global economy that can influence the future of the transportation industry and of course the future of your business. So, maybe this is the right time to move on to the next chapter and let another entrepreneur take the reins of your transportation business.
- New Challenges
Maybe you are in this industry for a very long time. You invested all your time and money in your transportation business, and now you can picture life without your business. You are not ready to retire, but you have greater career opportunities and new challenges to conquer. Well, then you should consider selling your business right now.
Timing the Sale is Tricky
The main reason of timing the sale of your business is to make it as rewarding as possible. But what if the time is now? What if you should take advantage of the market sooner rather than later? Some of the internal and external factors that could influence the results of your business sale are: the health of your balance sheet, the tax implications, increased regulations in the transportation industry, future capital expenditures, a buyer ready to do a deal. There are always reasons to delay a sale, but you must take into account that the best time to sell differs from business to business.
Not sure if it is time to sell?
We understand that you are an expert in running your business, not in selling it. We are not in the business of motivating business owners like you to sell their companies. We educate business owners in the transportation industry about their options. The Tenney Group can guide you through the entire process of selling your transportation business. We are ready to put our 40+ years of experience to work for you.
Not sure if this is the right time to sell? Maybe many other questions are crossing your mind right now. See our Seller’s FAQ to discover the answers to some burning questions you might have.
If you have any other questions about the process of selling your business, seek professional help from experts who understand the uniqueness of the transportation industry. Start planning now with the Tenney Group for a rewarding sale!