Selling a small trucking company is simpler than most owners expect, as long as the company is set up the right way and your records are clean. Here is the whole process, start to finish.
1. Make sure your company can be sold
The authority has to belong to a company you can sell, usually an LLC or a corporation. A USDOT number issued to you as a sole proprietor belongs to you personally, so there is no company to transfer. See Can you sell an MC number? for why.
The authority also needs to be active, with insurance on file with FMCSA. If it has already been revoked, you will need to reinstate it first.
2. Check your public records
Before you talk to any buyer, look up your company the way they will. Pull your SAFER Company Snapshot and your L&I authority and insurance history. Look for anything that will surprise a buyer: a lapse in insurance, an inactive status, an out-of-date MCS-150 or recent crashes. Our SAFER and L&I guide shows what each field means.
3. Get an estimate
Your price depends mostly on how long the authority has been active, your insurance history, your safety record and your type of operation. See What is my MC authority worth?. You can get an instant estimate on our home page by entering your USDOT number.
4. Gather your documents
A buyer will ask for formation documents, proof of ownership, your EIN letter, insurance and loss runs, tax filings and a list of any loans or factoring agreements. Use our document checklist to collect them early. Missing paperwork is the most common reason a sale slows down.
5. Accept a written offer and sign the agreement
A real offer should come in writing with a fixed price, a timeline and the terms of the sale. The purchase agreement should say what is included, what stays with you (like trucks, cash and receivables), who pays which fees, and who is responsible for anything from before the sale.
6. Fund escrow and complete due diligence
The buyer deposits the full price with a licensed escrow service. Once the money is secured, the buyer reviews the company's records during a short due diligence period. Read How escrow works for the details.
7. Close and get paid
At closing you sign over the company, resign from your positions, and the buyer's insurance is filed with FMCSA. Escrow releases the money to you, after paying off any liens directly to the lender.
8. Help with the paperwork after closing
The buyer updates the MCS-150, the BOC-3 if needed, state filings and the IRS responsible party. You may be asked to sign a few routine forms. See What happens after you sell.
How long does it take?
With a cash buyer and organized records, most sales close in about 7 to 10 days after you accept the offer. Listing with a broker usually takes one to three months.
This guide is general information, not legal, tax or financial advice. Rules and forms change; check FMCSA and talk to a professional about your situation.