Succession is a hot topic these days. One of the drivers of the burning buy sell market is a lack of successors for family-owned businesses. Sometimes that is because an owner’s kids don’t want to go into the car business. Sometimes there are no kids. Either way, the business will be sold, so why bother with a succession plan?
But the existence of a successor shouldn’t be the determining factor in forming a succession plan, Dan Schneider of Rawls Group tell us in this issue. Even if you plan to sell, a succession plan is crucial.
When you do sell, you want to include all profit centers in your dealership when determining the value of the business. Don Ray of Portfolio Reinsurance in this issue points out an area you may be overlooking in the F&I department.
We here at Automotive Buy Sell Report want to provide more valuable information and service to our readers, and we want to grow the number of dealers coming to our site. If you have suggestions or requests for additional areas we could cover, please let me know! My email is firstname.lastname@example.org.
Meanwhile, also visit our always popular Transaction News to see what dealerships are changing hands!