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How to sell an authority and mc number?

Discussion in 'Ask An Owner Operator' started by Pickleball, Apr 11, 2025.

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  1. Apr 11, 2025 #1
    Pickleball

    Pickleball Light Load Member

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    Apr 9, 2020
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    Hey guys, I just retired after 41 years as a trucker. All as a company driver for many different companies. As such, I really didn't pay too much attention into the O/O side of things.

    Here's my question. My wife's ex-husband just passed away and he had his own authority and ran his own company with sometimes many trucks and most recently just a single truck. I want to give my step-son advice about how to market and value the authority should he choose to sell it.

    Assuming the mc number was always the same I would guess he had his authority for maybe 30 years or maybe even longer. Doesn't this make the authority more valuable?

    How does one go about marketing or selling a mature authority? How do you place a value on it?

    Thanks in advance and pardon my ignorance on the matter.
     
    Pickleball, Apr 11, 2025
    Pickleball, Apr 11, 2025
    #1
    Rideandrepair and Concorde Thank this.
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  3. Apr 11, 2025 #2
    Concorde

    Concorde Road Train Member

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    West Melbourne Florida
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    Not too long ago I read an article (I think from Landline) about the subject. Mostly wading through the scammers bs and legit buyers.

    They gave a range from $2,500 to about $30k.
    I believe if you do your due diligence you could do well but you have to really understand which end is up.

    I’ll try finding a link to the article when I get more time..maybe a day or so.

    Some info if you can oblige would likely give others a better idea of what you got..

    Is the MC # still active?
    How many digits in the DOT #?
    First two (or more, your discretion) digits in DOT. #
    Safety rating..any oos violations still showing?
     
    Concorde, Apr 11, 2025
    Concorde, Apr 11, 2025
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    Rideandrepair and Pickleball Thank this.
  4. Apr 11, 2025 #3
    Iamoverit

    Iamoverit Road Train Member

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    How is the business structured?
     
    Iamoverit, Apr 11, 2025
    Iamoverit, Apr 11, 2025
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    Rideandrepair and Pickleball Thank this.
  5. Apr 11, 2025 #4
    Pickleball

    Pickleball Light Load Member

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    I'll try to gather more information...I really do appreciate the help. It may take sometime as this situation is not exactly mine to deal with and it's a little raw for the people that are dealing with it. Thanks for direction.
     
    Pickleball, Apr 11, 2025
    Pickleball, Apr 11, 2025
    #4
    Rideandrepair, Iamoverit and Concorde Thank this.
  7. Apr 11, 2025 #5
    Pickleball

    Pickleball Light Load Member

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    6 digits in the DOT # and it starts with 547
    Safersys shows no OOS violations for driver and 2 for vehicle.
    USDOT Status is listed as Active
     
    Pickleball, Apr 11, 2025
    Pickleball, Apr 11, 2025
    #5
    Concorde Thanks this.
  8. Apr 11, 2025 #6
    Pickleball

    Pickleball Light Load Member

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    Safersys shows the company as: XYZ Trucking Company INC.

    Under DBA it is left blank.
     
    Last edited: Apr 11, 2025
    Pickleball, Apr 11, 2025
    Pickleball, Apr 11, 2025
    #6
    Rideandrepair, Concorde and Iamoverit Thank this.
  9. Apr 11, 2025 #7
    Ridgeline

    Ridgeline Road Train Member

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    Michigan
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    Get a lawyer involved, this crap can get really complicated, believe me, it can get costly.
     
    Ridgeline, Apr 11, 2025
    Ridgeline, Apr 11, 2025
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  10. Apr 11, 2025 #8
    Long FLD

    Long FLD Road Train Member

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    I’m sure there’s a shady carrier out there that would pay good money for aged authority.
     
    Long FLD, Apr 11, 2025
    Long FLD, Apr 11, 2025
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    OldeSkool, Rideandrepair and Concorde Thank this.
  11. Apr 11, 2025 #9
    Dino soar

    Dino soar Road Train Member

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    I don't know anything about selling it, just make sure you are legally divested of every single solitary thing and nothing can come back to you.

    I have no idea if it's even possible, but just make sure it's all separate because if they start doing out of service and they start having credit problems and they start sticking people you do not want to be associated with any of that.

    God forbid they kill somebody without having insurance.

    Make sure you are completely and totally legally free.
     
    Dino soar, Apr 11, 2025
    Dino soar, Apr 11, 2025
    #9
    OldeSkool, Rideandrepair, D.Tibbitt and 2 others Thank this.
  12. Apr 12, 2025 #10
    Iamoverit

    Iamoverit Road Train Member

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    It's business structure is eligible to be sold/transferred. That's the most important aspect. Whoever is in control of the corporation can indeed sell it and you'll get a pretty penny for it.

    As an example I sold mine for 25k. It was about 5 years old and clean under an LLC. I listed it here in TTR in the classified section. You'll need to verify the insurance policy is written under the corporation as well.

    Whoever sells it should not take any initial offers. Instead, they should accept as many offers as possible over a period of time then pick the one that suits the seller best.

    I'd have a lawyer handle all the transaction details too if I were the seller.
     
    Iamoverit, Apr 12, 2025
    Iamoverit, Apr 12, 2025
    #10
    OldeSkool, Rideandrepair, Pickleball and 1 other person Thank this.
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