• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Sozo Fire

A Hot Spot of Knowledge

  • Home
  • Topics
    • Business
    • Construction
    • Family
    • Health
    • Swimming Pools
    • Technology
  • Ask a Question
  • Contact Us

3 Common Misunderstandings about Buyers for Trucking Businesses

June 9, 2011 By Sozo Staff

tractor trailer truck on highway

Often times, business sales fall through because of simple misunderstandings. Many trucking business owners assume they understand the mindset of trucking business buyers – after all, they’re in the same industry. But buying a company is a whole different ball game than running one. Clearing up common misconceptions can help pave the way for seller and buyer to reach a mutually beneficial agreement.

Location

One of the most popular advertising venues for sellers is local classified ads. This presents two problems.

1. It assumes that the ideal buyer for your business is local
2. It assumes your future buyer is actively looking to make a purchase

By limiting yourself to a small pool of local buyers, you may find that few can justify paying a fair price. Among those who can, some may be wary of doing business with a company they consider a competitor. In The Tenney Group’s most recent sales, buyers and sellers were separated by 400 miles on average. Many of these sales occurred when a buyer who wasn’t initially considering an acquisition became educated about the strategic benefits offered by a business. A broker specializing in transportation logistics companies has the ability to research buyers around the country, target the top handful, and show them your company’s unique value.

Basic Needs

Even the most promising business sales can fall apart during negotiations. What’s the No. 1 deal killer? Often it’s a simple lack of information. From financing terms to a trucking business valuation, buyers need accurate, upfront documentation in order to make an informed decision. Most business owners are not organized enough to provide proper paperwork. An experienced business broker will be adept at not only offering a compelling sales pitch, but providing the necessary documentation needed to back it up. Of course, some give and take is inevitable during any negotiation process, but making sure a buyer’s basic needs are met can prevent major surprises.

Flexibility

While buyers have specific needs, they can also be far more open-minded than most sellers anticipate. But buyers need to be convinced that being flexible is worth their while. Many business owners are skilled negotiators. However, negotiating in the context of being unable to communicate their company’s value in a convincing way. An experienced third party can keep the buyer’s eye on the finish line through all the twists and turns that occur on the way to closing. Remember that flexibility is a two-way street. You may have just one shot at closing the deal with a buyer who meets your needs as well as your price. A broker familiar with trucking issues can advise you on when budging a bit may be in the best interest of both you and your buyer.

Filed Under: Transportation

Additional Articles

truck pulling away from warehouse
3 Decisions to Avoid When Planning the Sale of a Trucking Business
tractor trailer truck on highway
Divorce and the Value of Your Transportation Business
road closed highway traffic sign
Preparing for the Worst: The Unexpected Death of a Business Owner
truck pulling away from warehouse
What if My Son Wants to Buy My Trucking Business But Can’t Afford it?


Primary Sidebar

Lyon Financial

Popular Posts

  • Facts About Teak Wood & Its Applications
  • Benefits of Aquatic Exercises
  • Sun Protection Tips
  • Meeting Workout Goals This Year
  • Drowning Prevention in Swimming Pools
  • Black Algae in Your Pool? Here’s What to Do
  • Setting Up Your X10 System: Beginner’s Guide to Home Automation
  • Septic System Pumping in the Charlotte, NC Area
  • What Type of Swimming Pool Should I Add to My Backyard?
  • What to Look for in an Industrial Concrete Flooring Contractor
  • Teach Your Daycare Kids to Care About Sharing
X10 Home Automation

Recent Posts

  • Premier Custom Furniture Store in Bedford Hills, NY
  • How to Take Over the World – Examining the Theoretical
  • The Waffle Making Rap Song
  • Facts About Teak Wood & Its Applications
  • The Benefits of Reading the Hardy Boy Books
  • What Type of Swimming Pool Should I Add to My Backyard?
  • Should You Build a Backyard Swimming Pool?
  • How to Choose the Best Swimming Pool Safety Cover
  • Setting Up Your X10 System: Beginner’s Guide to Home Automation
  • Options for Home Automation: What Makes X10 Different?
Lyon Financial

Recent Comments

  • Alice Carroll on Pool Choices: Pool Fences
  • Zachary Tomlinson on Swimming Pool Cover Advantages
  • Hannah on X10 GSM Home Security Systems
  • Michael Cobb on X10 GSM Home Security Systems

Copyright © 2023 Sozo Firm Inc · Privacy Policy · Disclaimer · Sitemap