Get ready for a lot of reading this week because both of our contributors had a lot to say on their subjects. First, Mark Johnson, who advises dealerships on buy sell deals, weighs in on a hot topic at this year’s NADA convention, the entry of Wall Street into the dealership buy sell world.
He suggests that investing in automotive retail gets the best results when the investors are well-versed in the special characteristics of dealers and the dealership business.
As I’ve mentioned before, we have been asked for a checklist of tasks if one is thinking of selling. I haven’t forgotten – we still plan to come out with a comprehensive list. Meanwhile, attorney Oren Tasini returns to our pages with some great suggestions regarding how to start preparing for a sale that might not occur for five years.
There are some areas here I bet you haven’t thought about, such as making sure all your web domains and social media accounts are registered in the name of the dealership, not the name of the person who created them.
As always, we have this week’s Transaction News.
Alysha Webb, Editor and Publisher