The Trucking Business
It’s no secret that the trucking industry plays an essential role in the country’s economy, being one of the most important industries in the U.S. Over the years, the trucking industry has influenced other important sectors of the economy. Every industry depends, in one way or another, on the trucking industry.
Can you imagine life without the trucking industry? Chances are that each product that you use at work or home, from furniture, clothes, food medicine, and much more, have been inside of a truck. Everything around us came from somewhere else and had to be transported at some point or another.
The trucking industry is the leading resource for moving freight worldwide, handling more cargo than trains, planes or ships. More than 70% of America’s goods, including food, medical supplies, fuel and raw materials, are transported by trucks. The global and local economy would come to a standstill without the trucking industry.
Owning and managing a trucking business is not easy. If you own a trucking company, you must know that the trucking industry is not like any other industry. Business value, as well as the entire process of transferring ownership of a trucking company, are widely misunderstood, even by the most reputable business valuators.
The Trucking Industry: Then and Now
The trucking industry is not what it used to be, especially if you have a trucking business for sale. Moreover, the process of buying or selling a trucking company has also changed.
One thing is for sure - people always need to move goods from one point to another. After World War I, due to the improvement of paved roads, the use of the semi-truck became possible. Trucking transportation was just about how to move goods from point A to point B faster, without any other rules, restrictions or limits. As the infrastructure continued to improve, the trucking transportation industry continued to rise and has evolved constantly. After 1930, the first commercial trucks hit the road, and between the 1960s to 1970s, the trucking industry flourished. The number of trucking companies increased after 1980, as Congress passed the Motor Carrier Act of 1980, a federal law which deregulated the trucking industry.
The trucking industry has changed dramatically over the years, and today, it’s enormous, , employing millions. Additionally, the number of trucking companies will continue to rise, and the industry will continue to shape the U.S. economy.
The Trucking Industry: An Industry Like No Other
The trucking industry is unique, and we have come to this conclusion after more than 40 years of experience in the transportation industry. Moreover, if you have a trucking business for sale, and you want to exit the industry, or you want to buy a trucking business, you already know that this industry brings many challenges.
Whether you are planning to expand your trucking business, put it up for sale, or you simply want to enter the trucking industry, an important step that will help you in every business decision you will make is the right trucking business valuation. Receiving an important business valuation from an expert in the industry will help you achieve your goals. Don’t wait! Get in touch with us today to find out how we can help!
Buying or Selling a Trucking Company?
When buying or selling a trucking business, there are many things you should consider.
If you have a transportation business for sale, an array of complex issues can influence the timing of such a sale, as well as the process of buying a trucking company.
We know that every owner’s reason for selling is different, but many sellers and buyers in the transportation industry make the same mistake: they evaluate their businesses based on similar trucking companies. It’s crucial to know the right value of your business, especially in the transportation industry, because if you do not know the value of your trucking company for sale, it will be difficult to convince others of it.
Business value and the entire process of transferring ownership in the trucking industry are misunderstood, even by the most reputable valuation companies, as their focus is not on the transportation industry itself.
The Tenney Group is built to deliver the most reliable business valuation. You can feel confident in having an experienced transaction advisor by your side s . We focus on achieving the highest sale price and the best terms for both sellers and buyers in the transportation industry.
Our mission is not to convince business owners to sell their companies, but to add value during every stage of a transportation company’s lifecycle.
Get the Tenney Advantage
Our mission is to make your experience as rewarding as possible at the right time for you. If you have a trucking business for sale, or you plan to enter the trucking industry, education and preparation are crucial to making the transaction a success. Equip yourself with the right information before you enter or exit the industry. The main objective of your preparation should be to gain a deep understanding of the industry itself.
When you have a trucking business for sale, make sure you have the right professionals involved to help you make the best decisions at the right time for you. Our unique expertise and team of professionals can help you set clear goals and go out on top.
The Tenney Group has facilitated more business sales in the transportation industry than anyone in the world, positively impacting the lives of trucking business owners.