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Purchasing existing Fleet/Company

Discussion in 'Ask An Owner Operator' started by Mack185, May 25, 2008.

  1. May 25, 2008 #1
    Mack185

    Mack185 Medium Load Member

    448
    262
    Feb 25, 2008
    0
    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.
     
    Mack185, May 25, 2008
    Mack185, May 25, 2008
    #1
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  3. May 26, 2008 #2
    im6under

    im6under Heavy Load Member

    782
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    Feb 13, 2007
    iowa
    0
    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.
     
    im6under, May 26, 2008
    im6under, May 26, 2008
    #2
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