How to prepare your trucking company for sale
Buyers pay more, and close faster, when everything checks out the first time. Most of this takes an afternoon.
Keep the authority healthy
- Keep insurance continuous, with no lapses.
- Update your MCS-150 if it’s more than 24 months old, or if anything has changed.
- Make sure your BOC-3 process agent filing is current.
- Pay UCR for the current year.
- Check your own SAFER snapshot for anything that looks wrong. See the SAFER guide.
Keep the company in good standing
- File state annual reports and pay state fees.
- Keep the registered agent current.
- File tax returns, and pay off or resolve any tax balances.
- Release any old factoring agreements or UCC liens.
Gather documents
- Articles of organization and operating agreement.
- EIN letter.
- Insurance declarations and loss runs.
- A list of broker setups and load board accounts.
- Equipment titles and loan payoffs, if trucks are included.
- Any customer contracts.
These are exactly what buyers check in due diligence.
Things that hurt price
Insurance lapses, recent crashes, a Conditional rating, an out-of-service rate above average, and unresolved debts. You can’t erase history, but you can stop new problems and be upfront. Buyers trust sellers who disclose.
Frequently asked questions
Should I update my MCS-150 before selling?
Yes. FMCSA requires an update at least every 24 months, and buyers expect it to be current.
Do I need trucks to sell my company?
No. Many buyers want the authority and its record. Trucks and contracts add value when they’re included.
Next step
Ready? Submit your company. Listing is free.
This guide is general information, not legal or tax advice. Have your own attorney review any purchase agreement.