Like many of you, I have been watching Olympic coverage this week. I therefore have seen some commercials over and over again. Such as the insurance company commercial with the two men building sand castles with their kids on the beach. The thought the insurance company aims to have you take away from that commercial is “Everyone wants more.”
That is also true when selling a dealership. There are, however, certain fairly common practices that can decrease the value of your dealership without you even being aware that is occurring. Last week we ran part one of a list from Crowe Horwath of dealership value-killer mistakes to avoid.
This week, we present part two of that list. It includes advice such as taking care not to make facility improvements you don’t really need and — what may be a surprise to some — don’t keep your succession plans a secret.
The Chinese have a saying: “Same bed, different dreams.” It can refer to a partnership that ties together two parties with very incompatible goals for a business. This week, Erin Tenner, one of our regular contributors, continues her series on buy/sell basics. In this installment she looks at the three types of agreements among owners that generally include buy sell provisions. This is knowledge that can help you avoid ending up in the same bed with a business partner who has very different dreams.
Then there is, of course, Transaction News.
Enjoy!
