Key Takeaway: If you are expecting a buyer to show up at your door step with a briefcase of cash on your 65th birthday, prepare to be disappointed. Exiting the transportation industry can be complicated and it often requires addressing many moving parts. Ultimately, he who is writing the check for the purchase has the most influence on the timing of a transaction. We have to be ready when he is ready. Because of that fact and because of the asset intensive nature of this industry, successful business sales require preparation and opportunism. You can’t control everything around you that may influence the timing of your business sale. That’s why it’s critical to proactively seek out your options, to understand your company’s current worth, and to always know what would go in your pocket from a sale at any given time. Approaching this process proactively increases the chance of your getting your sale time table in alignment with the right buyer, protects all that you have built, and creates transaction opportunities that wouldn’t otherwise be available to you. If you are trying to figure out how to get your ducks in a row, reach out to the Tenney Group team at our contact page.
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