Yeah i dont think they will be like that. But be good to get my foot back in on the flatbed side of things. Sorry to hijack thread. Im looking at entry not exit.....
i dont really think this is the right forum for this particular thread. most drivers dont get into business with any intention of selling it down the road. you are leaps and bounds ahead of at least 99.5% of all drivers out there in your thinking. you are sure way over my head, and im no genius but im no fool. i mean, i understand the question, but im far more likely to make a retirement plan through investing rather than building 100 truck business. more power to you.
pokerhound that is acceptable stradegy in my opinion. I just feel that is a good way to set goals for yourself and to get your company where you want it to be. Many people do make their business to where they take everything out of it at the end of the day and there is nothing wrong with that.
Hard work and I can sell anything to anyone. It is not to hard actually. I was working at a manufacturer in their accounting department and I was in charge of transportation costs (they had a private fleet and the used outside freight brokers) They were getting rid of their private fleet and I saw an opportunty so I started with three trucks 3 years ago and working for one customer doing dedicated cross town work I really had no clue what I was doing so I brought in a consultant to help me he showed me a lot. Started to pick up new customers quickly and needed more equipment so either I leased it or went out and purchased it. Just came up with the philosphy that I will grow with new customers or my existing ones giving me new opportunities. Once you get to ten it kind of takes off I will most likely have around 50 trucks in my fleet by the end of 2013.
Hey cominghomesec; are the 26 trucks you mentioned you own 26 trucks or is it a combination of trucks you own and o/o leased onto u?
We are always looking for companies and the challenge is valuation in this business. So you have assets you own - nothing special there, you can sell those off and get the same if not more piecing them out. Then you have your accounts. That is what people want and where the value is. But that will be heavily discounted by an outsider like me because they can be gone the week after the deal closes. No contract is iron clad. My suggestion would be partner with someone younger than you that is looking to grow with the intention that at some point you are looking at walking away. Many different ways that the partnership can look but the key would be that you are each bringing something to the table that allows each business to grow. Then down the road the company that you partner with can have a higher comfort level on the stability of the accounts. That increases the value and if planned right it may be that by the time the accounts realize you retired they are so comfortable with the "new" business that it is not an issue. Of course there is a lot more to it but key to maximum value is the buyer having a trust that the accounts will be around for years not weeks.
