By Alysha Webb, Editor and Publisher
Recently I was talking with an executive at a state-level dealership association. He mentioned that he had been speaking with one of his dealer members, someone who was getting older and didn’t have a successor lined up. “The dealer wanted to know if there was a list of 20 things he should be doing to prepare to sell his dealership,” said the executive.
Great suggestion! Automotive Buy Sell Report addresses that question almost every week in one form or another. Now, we are working on compiling just such a check list. Meanwhile, in this issue CPA Carl Woodward offers some suggestions for structuring your vendor relationships so that they don’t end up being last-minute obstacles to closing a buy sell agreement.
Also in this issue buy sell attorney Len Bellavia makes the case for using a broker when selling your dealership. You may think that you will be saving money by not using a broker. But a broker can in fact make you money and save you some hassles, argues Bellavia. Brokers know lots of qualified buyers, have a good grasp of all the elements that go into valuing a dealership, and can mediate disputes between buyers and sellers among other benefits, says Bellavia.
As always, we also bring you the latest Transaction News. I’m sure all of you are going to be in San Francisco in a few week for the NADA convention. So will we! Come visit us at booth 6333W.
Enjoy!
2 Comments
guestABSR
When do you think you will have the list of 20 things he should be doing to prepare to sell his dealership and how can I get it.
Alysha Webb
WE will begin working on it after NADA. I can’t tell you the completion date but you can follow the progress on our site.