The short answer: Trucking companies price off the transaction averages: 3.11× SDE or about 0.72× revenue across 34 reported deals, with the trucks valued inside the number. That puts a $750K-revenue operation near $540,000, a $2M fleet near $1.4M, and a $5M fleet near $3.6M. With an SBA 7(a) loan the 10% injection on total project cost is about $80K on an $800K company, half coverable by a standby seller note, so your cash can start near ~$40,000 plus a fleet-ready reserve.
What trucking companies actually cost
Price scales with revenue and fleet condition, and the trucks are inside the number:
| Operation | Revenue | Implied SDE | Typical price |
|---|---|---|---|
| Owner-driver plus 2–3 trucks | $750K | ~$150K | ~$540,000 |
| Small fleet with a dispatcher | $2M | ~$320K | ~$1.4M |
| Fleet economics | $5M | ~$700K | ~$3.6M |
Two companies at the same revenue diverge on fleet age and freight mix: contract freight with a maintained mid-life fleet earns the averages; spot-market exposure with aged trucks prices below them and adds a year-one capital call the price does not show.
How the price is set: the multiple
Two sourced methods from the same 34 transactions:
| Method | Implied price | Reading |
|---|---|---|
| 0.72× revenue on $750K | ~$540,000 | The revenue yardstick across reported deals |
| 3.11× SDE on $200K | ~$620,000 | The earnings yardstick at the same average |
| 3.11× SDE on $350K | ~$1.09M | Where a dispatcher-run small fleet lands |
Fleet condition adjusts either method: price the units separately before accepting the blended number. See the sourced figures on the trucking company multiples data page and the mechanics in valuation.
The price includes the trucks. The question is whether the trucks include five more years.
The down payment and the full capital stack
Under SBA 7(a) rules (SOP 50 10 8.1, effective October 1, 2026, which kept the injection rules unchanged), a change of ownership needs a minimum 10% equity injection, calculated on the total project cost, the price plus financed fees, not on the loan amount. Up to half of it can be a seller note on full standby, and the injection cannot come from borrowed funds. The worked stack on a $800,000 trucking company:
| Source / use | Amount | % of price |
|---|---|---|
| SBA 7(a) bank loan | $720,000 | 90% |
| Your cash injection | $40,000 | 5% |
| Seller note (full standby) | $40,000 | 5% |
| Purchase price | $800,000 | 100% |
| + Est. closing costs & fees (financed) | ~$30,000 | |
| + Working-capital reserve | $40K–$60K |
The honest cash to close is the ~$40,000 injection plus reserves, and in trucking the reserve is not optional: insurance deposits, plates and permits, and the first surprise engine belong in the plan. The injection runs on total project cost and cannot be borrowed.
Does the deal cash-flow?
At ~$200K SDE and roughly $122K of annual debt service on a $750K financed total, coverage sits near 1.6×, workable but thinner than most Main Street deals, which is why lenders read the fleet list and the customer concentration as hard as the P&L. Check any structure against a DSCR of ~1.15× to 1.25× before you sign anything.
Costs buyers forget
- Fleet capex, unit by unit, aged trucks are a near-term cash need the price does not include; get the maintenance records.
- Insurance deposits and loss-run surprises, a weak safety score raises premiums immediately.
- SBA guarantee & packaging fees, a percentage of the guaranteed amount, usually financed.
- Legal & closing, purchase agreement, authority transfer, contract assignments.
- Driver retention, stay pay for tenured drivers is cheaper than recruiting their replacements.
- Working capital, shippers and brokers pay on terms; the buffer carries fuel and payroll meanwhile.
Model your trucking company deal end to end
Price, down payment, loan payment, and take-home in one place.
Frequently asked questions
Roughly $540,000 for a $750K-revenue operation, $1.4M at $2M, and $3.6M at $5M, derived from the sourced 0.72× revenue average across 34 reported transactions, with the fleet valued inside the price.
An SBA 7(a) purchase needs a 10% equity injection on the total project cost, about $80,000 on an $800,000 company. Up to half can be a standby seller note, so your own cash can start near $40,000 plus closing costs and a fleet-ready reserve.
In these figures, yes: the multiples price the operating company with its equipment, which is why fleet age moves the number so hard. Price the units separately in diligence, and treat an aged fleet as a discount conversation.
On the total project cost, not the loan amount, and it cannot come from borrowed funds. A seller note on full standby can cover up to half of the required injection.
Sources
- Transaction averages, Sundance Financial, SDE Multiples by Industry (2026), averages across 9,500+ small-business transactions reported in 2025.
- Multiples, Acquisition Ace trucking multiples.
- Financing structure & equity injection, SBA 7(a) program; SOP 50 10 8. See our SBA loan guide.
