Owning a transportation business, especially in these uncertain economic times, takes a considerable amount of self-confidence. This trait is very useful during the sale of a business as well, but being overconfident could have a very negative impact on the sale of your business.
An overconfident owner may think that because they know their business better than anyone else, they’re best qualified to sell it. Sadly, this viewpoint neglects the very important buyer mindset, and this type of overconfidence can sabotage a sale. It’s therefore generally a good idea to hire a specialty broker who is familiar with the ins and outs of your industry and who can lend an objective viewpoint to the buying and selling process. Here’s why:
Buyers want solid industry facts.
Investing in a transportation company is also an investment in the transportation industry. Neglecting this truth could cost a buyer a lot of money, so generally, informed buyers are concerned with both the past and present direction of the industry. These facts are necessary to convince buyers to make a deal, but go-it-alone business sellers often have trouble in this area.
Most people who try to sell their transportation business without the help of a broker encounter difficulty with acquiring information about historical industry trends, researching local and national market statistics, and presenting the facts in a concise manner that highlights how the business in question is a good investment. Brokers can gather all that information and more- and present it in a way that makes buyers take notice.
Buyers need to hear those facts from an expert.
The amount of information that needs to be presented to a buyer is astronomical, and to make matters worse, even if the information is completely accurate and laid out beautifully, if the seller is the one presenting the information, the buyer may disregard it out of a sense of distrust. Buyers feel that because the seller is trying to get them to make a deal, the information they’re presenting must be biased in some way. Therefore, without the help of a broker, many sellers are doomed to fail, even if they’ve done everything right.
Not all brokers are created equal.
In order for a business sale to be successful, there must be a mutual sense of trust between buyer and seller. Without a broker, this sense of trust is very difficult to achieve. Choosing the wrong broker, though, could backfire terribly, causing both parties to lose credibility. If you’re in the transportation industry, then the only broker you need to consider is the Tenney Group. For over 35 years, Tenney Group has been connecting transportation business sellers with buyers all over the country. With hundreds of successful sales behind them, Tenney Group understands the ins and outs of today’s uncertain market. Both buyers and strategic investors take notice of Tenney Group’s listings because Tenney specializes in advertising to them without compromising either party’s confidentiality. To learn more about what makes Tenney Group an industry leader, visit their website at thetenneygroup.com.