We all know the buy/sell market is hot, hot, hot right now. Competition to acquire dealerships in key markets is intense. This week, I write about the new owner of a dealership that considered the possibilities of a franchise rather than its current reality.
Granted, dealers I talk to who have just acquired a franchise generally figure they can change a few things and light a fire under the sales. But Alam Khan, whom I profile in this issue, is a great example of someone who saw possibility where others might not have and jumped at the chance to acquire a Buick Chevy GMC store.
Several well-known buy/sell professionals have recently issued so-called blue sky reports listing what blue sky multiple sellers are getting for specific franchises. A family that is thinking of selling their dealership might read these reports and, using the numbers, arrive at a value for their dealership. That would be dangerous. This week Loyd Rawls, CEO of The Rawls Group, writes about the risk of going into a buy/sell talk with a set price in mind.
As always, we also have Transaction News.
Enjoy!
