In the Hot Seat | The Business of Transportation

In this episode of The Hot Seat, Spencer Tenney sits down with co-founder of Standard Freight, Jay Maxwell. Jay and his partner enlisted the services of Tenney Group to sell their brokerage a few years back and now he’s here to discuss the process, what he learned and what he hopes others considering a sale think about before they enter into the process.   

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Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/  

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

In this episode of The Hot Seat, Spencer Tenney is joined by Ryan Erickson. Ryan is an EVP at McGriff. They specialize in business and personal insurance, employee benefit solutions, risk management services, specialized industry expertise and more.   Insurance is a wide field with many options when it comes to protecting your transportation business. 

In this episode, Ryan and Spencer discuss the Captive Insurance Program. What is it? Who should use it? What are the misconceptions? And how do you know you’ve selected the right captive insurance group?  

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.   

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  https://www.thetenneygroup.com/our-process/

In this episode of The Hot Seat, Spencer Tenney sits down with Thom Albrecht of Reliance Partners Insurance to discuss whether or not the transportation and logistics industry is heading into a recession.   What are the metrics Thom and other experts are looking at?  Will housing affect the freight market?  What is GSTPI and why does it matter?  Given the data that Thom has, what is his recommendation for business owners looking to navigate the coming months. All of that and more in this week’s episode of The Hot Seat.   

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/  

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

There is a common misconception that an ESOP or Employee Stock Ownership Plan, is too complex for trucking companies and that it probably just would cost too much. After listening to this week’s Hot Seat episode with KSM's Andy Manchir, you’ll know that isn’t true.   Andy and Spencer go over what exactly an ESOP is and isn’t, the common misunderstandings around ESOPs and the overall pros and cons of the ESOP exit for the transportation business owner.   

Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/  

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

In this episode of The Hot Seat, Spencer Tenney sits down with the founder of recently acquired American PetroLog, Jeff Colonna. Jeff founded the company in a niche space within the transportation business seven years ago and since then business has boomed!   So, why would Jeff choose to sell now?   We talk about why now was the right time to sell, how American PetroLog was founded, what he learned from selling his company, why he choose the Tenney Group to represent him and more.   

Looking to acquire another transportation business? Join our private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/  

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

Adam Lowy's family has been in the moving industry for over 100 years. When Adam got involved he noticed how much food was being thrown away every time a customer changed homes. This sparked an idea and the first version of Move For Hunger was born. 35% of all food in the US goes directly into the landfill. Adam knew that if Move For Hunger could save just a portion of this food that he could make a massive dent in the hunger problem in America.   Adam tells us that people want to do good. You just have to make it super easy for them.

Listen to this episode and then visit their site to see how your transportation business can get involved.   

https://moveforhunger.org/ 

Looking to acquire another transportation business? Join our private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/ 

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

A lot of transportation business owners come from a similar background. The owner started with one or two trucks. Over time they picked up more and more business until one day they looked up and couldn't believe what they were running. The business started out simple enough but through various business needs the business has expanded into multiple verticals. But did you ever stop to think about which of those verticals may actually be a ticking time bomb?  In this episode of The Hot Seat, Spencer Tenney sits down with Joe Harraka and Anthony Vizzoni to discuss how to protect your business from itself.   

Looking to acquire another transportation business? Join our private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/  

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

Does your transportation business have extra storage space that is just collecting dust? Maybe you're a transportation owner that doesn't need a whole new warehouse but does need a few extra racks of storage space.   Well, that is where our guest today comes in. Scott LeFevre is the Managing Director of  Business Development at Chunker. They specialize in connecting those with too much space with those who have too little.   

In today's episode, Spencer and Scott discuss why there is such a high demand for short-term warehousing rentals right now, how Chunker is helping with this demand, and whether or not they think short-term warehousing will take over long-term warehousing as the new norm.   

Looking to acquire another transportation business? Join our private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  

https://www.thetenneygroup.com/buying-a-business/  

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

In this episode of The Hot Seat w. The Tenney Group, Spencer Tenney sits down with Matthew Wiener, a managing director at Aon. The big topic today is around representations and warranties insurance in transportation mergers and acquisitions. What is it? What are the current trends around reps and warranties insurance? What should someone looking to sell or purchase a transportation company in the next 18 months begin doing now to ensure a smooth process.   

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/

In this episode of The Hot Seat w. Spencer Tenney, we hear from the founder and CEO of DriverReach, Jeremy Reymer. Jeremy has been dedicated to the trucking industry since 2003 and founded DriverReach in 2015. Spencer and Jeremy discuss the hottest topic in all of trucking business operations - the driver shortage. Do we actually have one? Do drivers (or lack thereof) affect the value of your business? Does culture play a role in recruiting and retention? All of that and more in this episode of The Hot Seat!   

Interested in selling your transportation business? Click the link below to see our process and find out if we can help you achieve your business goals.  

https://www.thetenneygroup.com/our-process/