If you have a trucking or limo service up for sale, you’re probably interested in finding the ideal buyer for your business. As a transportation business broker service, The Tenney Group, specializes in connecting sellers like you with suitable buyers. While you have probably conjured images of your ideal investor, have you considered the responsibilities that you have, as a seller?
When potential sellers contact transportation business brokers, they don’t often think about their responsibilities to potential buyers. We see part of our service as helping you, the seller, so you can make a sale that pleases all parties, in the end.
While this list is not exhaustive, it touches on the three key characteristics that sellers should aim to embody:
• Motivated
• Cooperative
• Reasonable
1. Motivated
Just like you would be insulted by a buyers’ ridiculously low offer, serious buyers shy away from business opportunities that they know are priced too high. As a brokerage service, we realize that both buyers’ time and our own time is valuable, so if the price you’re asking is too high, we may choose not to work with you on the sale.
If you need help determining a reasonable price and considering legitimate “wiggle room” to allow for bargaining, we can provide you with an accurate trucking industry valuation to help you determine a fair market price at which to list your business. If your valuation of your business is much higher than our expert valuation findings, you may not be quite as motivated enough to sell as you think you are. Market-standard pricing shows buyers that you’re serious about selling.
2. Cooperative
When it comes to making the sale, we’re on your side: We want to see your transaction succeed. We welcome open communication, including questions about how, why, or when we’re doing what we’re doing to help sell your trucking company. However, we occasionally come into contact with sellers who ignore our expertise or argue with us over industry-standard pricing or practices, wasting time and frustrating potential buyers in the process.
While we welcome open communication before and during the selling process, when the right buyer comes along, you need to be ready to sell. Readiness includes having all documentation and legal paperwork at your fingertips for when the sale is imminent.
3. Reasonable
Listing your hard “bottom line” price and expecting no counter-offers isn’t realistic. As in any business deal or personal interaction, compromise is often necessary in order to arrive at a trucking sale that pleases all parties involved. Fairness dictates that both parties be willing to do a little give-and-take in order to ensure satisfaction, on both sides. Knowing that concessions are part of the deal can help you prepare yourself ahead of time, possibly even listing out the kinds of compromises you’d be willing to make.
By committing to be a reasonable, cooperative, and motivated seller, you’ll not only secure the Tenney Group’s brokerage services, but you’ll likely make a great sale that leaves you and your buyer pleased with the results.
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