According to the American Trucking Associations publication, “America's trucking industry is the lifeblood of the U.S. economy. In fact, nearly every good consumed in the U.S. is put on a truck at some point. As a result, the trucking industry hauled 72.2% of all freight transported in the United States in 2021, equating to 10.93 billion tons. The trucking industry was a $875.5 billion industry in that same year, representing 80.8% of the nation’s freight bill”.
This business offering is for a vital trucking company located in New Your City near JFK Airport in a 10,000 sq. ft facility. It has been in business for 38 years with an extensive list of repeat clients. The company provides air and ocean import/export trucking services in the Tri state area. They operate out of a fully licensed and bonded container station near JFK where they hold freight awaiting customs release. They provide transfer and breakdown service as well as separating freight for different destinations. Their experienced ocean team manages containers coming out of the piers in New Jersey and delivers them to their destination. The skilled team works well with their clients to ensure that shipments are picked up as quickly as possible and delivered to their destinations on time. As a fully licensed bonded container freight company, importers and shippers are advantaged to have their cargo transported pending customs clearance until it reaches its bonded facility.
Key Data:
Eight (8) well maintained Trucks
Fully compliant with Electronic Logging Device DOT requirements
Ten (10) employees, including six drivers & two new driver hires about to join
2021 COVID Revenue $1,270,263.
2022 through January to October 5th, $1,707,402
2022 Full Year Revenue Projection, $2 million
2022 Full Year Net Income Projection, $1.2 million (60% Net Margin)
2022 Full Year Cash Flow $1,292,000
The owner has developed sustaining relationships with numerous (25+) shippers serving as ongoing clients. He has a passion for service and client satisfaction. He has focused heavily on addressing client expectations resulting in the thriving business it sustains. While his reason for selling after 38 years is Retirement, he is willing to stay on-board to further grow the business with the new owner, if desired.
The trucking industry itself has been facing a significant number of challenges including the “ high operation costs, misunderstanding or inability to comply with regulations, or lack of technology; such as paper-based wasteful procedures, absence of GIS support for route optimization, in-person driver on-boardings, and detentions in ports due to miscommunication, as well as lack of proper equipment for loading or unloading goods, among other things (1) ” Throughout its history this company has met these and other challenges with precision.
Asking Price: $2.5 million