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^ Top   #1   05.25.2008

Mack185 Bobtail Member   Last Seen: 1 Day Ago 06.15 PM Member Since: Feb 2008 Location: Atlanta,Ga. Trucker? 4 Years Posts: 20 My Trucking Photos: 0 Thanks: 0 Thanked: 0 Times

Purchasing existing Fleet/Company What do you guys think about buying an existing established company? Nothing big, say 20 power units, about 34 reefers, 8000 sq.ft. shop with yard. Drivers stay on, current contracts are still honored, and the owner stays 60 days for smooth transition. This isn't for me but a member of my family is very interested. I mean if the company has shown growth and profit than I don't see it being that bad of an idea. I know you all are probably going to say "why is he trying to sell his company"? The reason being that the seller in question is retiring. Just for kicks and giggles, what do you all think?? Any response is appreciated.

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^ Top   #2   05.26.2008

im6under Medium Load Member   Last Seen: 1 Day Ago 02.25 PM Member Since: Feb 2007 Location: iowa Trucker? 1 Year Age: 44 Posts: 500 My Trucking Photos: 0 Thanks: 10 Thanked: 86 Times

Quote: Originally Posted by Mack185 What do you guys think about buying an existing established company? Nothing big, say 20 power units, about 34 reefers, 8000 sq.ft. shop with yard. Drivers stay on, current contracts are still honored, and the owner stays 60 days for smooth transition. Any response is appreciated. Hire a forensic accountant to make sure the books aren't cooked or askew. Talk to the current drivers. Are you sure they are staying, they are happy, and you can keep paying them? Do you seriously have the experience, expertise, and fortitude to continue and build the business. It ain't a lemonade stand and just as many good businesses have gone bust after an ownership change as have new ones in the first 5 years. If you're up to it and understand the coming economics, go for it.

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