As you walk through the door of your transportation business, you notice a lot of your employees turning to look at you. This is understandable since you are the owner. However, their stares seem to be ones of uncertainty, and you sense questions, disappointment, and even anger. As you rush to your office to avoid any confrontation, your mind wanders to why your employees are looking at the owner this way.
Suddenly, you come to a startling realization; your employees must have found out about the possibility of you selling the company. It all makes sense now. The employees are concerned about their job security and what kind of changes may occur should such a sale take place. They are probably having thoughts of unemployment lifestyles, questions as to your intentions, and just general confusion.
As quickly as you realize that your employees have found out, you also make the equally nauseating realization that your competitors may now know. You can bet that your competition is going to play the possible sale of your company against you. Yet again, another thought crosses your mind. What about your customers? They will quickly learn of your intentions with the company that they may have used for years. Does this mean business is going to quickly start looking elsewhere? What would this mean for a possible deal that you are working on with a buyer?
Owners that are looking to sell their transportation business do not want, nor can they afford, to have their employees, customers, and competition know that they are selling. It can quickly turn a good deal into nothing. It can create panic, anger, and continuous unconfirmed rumors among your confused employees. Selling your transportation business can quickly turn into a stressful time if details begin to surface. You may be constantly fielding calls and questions from your customers and employees.
However, by choosing the right transportation business broker, you can ensure that details of your sale are kept in the strictest confidentiality. Transportation Business Brokers such as The Tenney Group, have specific and regulated procedures that would protect your confidentiality while still maintaining the widest exposure.
The Tenney Group will not release certain details of your sale to a prospective buyer unless they can provide proof of funds and will sign a confidentiality agreement. This added level of protection ensures that a prospective buyer not leak out details of a possible business sale.
If you are considering selling, factoring in the many aspects of the business can be a difficult task. However, don’t forget to factor in what can happen should your employees, customers, and competition find out about the business sale. Protect your confidentiality by only using a skilled transportation business broker that has such levels of protection in place.