I attended the Automotive News Marketing Seminar here in Los Angeles this week. The size of that event has really swelled in the past few years. One reason is probably that the kinds of companies involved in marketing vehicles has also swelled as digital media has come to dominate the conversation.
One of the speakers, Jack Hollis, Group Vice President of Marketing for Toyota Motor Sales USA, talked about how Toyota’s advertising campaigns are built around relationships, and how marketing to different cultures is “all about building relationships.”
Relationships come up a lot when I talk to dealers who have recently acquired a store. Often, they have a long-standing relationship with the previous owner, so there is a lot of trust underlying the deal.
Not all buy sells are like that, though. There are different types of buyers, and each one has special characteristics. The role the seller plays in the deal, and his or her involvement with the business after the sale, varies depending on the type of buyer. In this issue, Adam Sander of Moss Adams discusses different types of buyers, and the importance for the seller of considering his or her expectations and goals when deciding which buyer to choose.
Another thing I hear a lot about is plans to relocate a dealership after an acquisition. If you are thinking about doing that, it pays to be aware of the potential pitfalls of such a move, and to ensure that they are covered in the buy sell agreement. In this issue, Joe Aboyoun of Aboyoun & Heller goes through those issues and contractual fixes.
Don’t worry, we also have our hit section, Transaction News!
Alysha Webb, Editor and Publisher
