When a dealership is performing at its peak, it may not occur to the dealer or owner that this may be the best time to sell the business. Waiting for retirement or times when you want to devote time to other endeavors means missing out on the opportunity to get Read more…
Before attempt to sell your car dealership, invest a little time addressing these essentials. Going over the fine details can make a big difference and potentially cut down the time your dealership sits on the market. First impressions count, so go over this checklist and address any relevant issues to Read more…
While there is a business-heavy side of ownership transition, there is also a very human element that involves keeping employee morale and engagement up during the process. Decide What To Share When it comes to handling staff, the biggest decision you will make is whether or not to inform them Read more…
Having an unrealistic price in mind. When pricing their dealership, owners are often unrealistically high or low in their pricing. This will result in money being left on the table or running off the qualified buyers. Not seeing your business through the eyes of a prospective buyer. An investor assesses Read more…
Midwest Brokerage is here to manage the selling process and will assist you with: Guarding the confidentiality of your intent to sell. Identifying anything that will influence the goodwill value of your dealership. Assisting with establishing your asking price. Developing the marketing plan for your store. Identifying and contacting qualified Read more…
Once the Buy/Sell has been executed and forwarded to the manufacturer for approval, the process will normally take about 60 days. During this period the manufacturer may choose to reject the proposed Buyer and exercise their Right of First Refusal. In this instance they normally assign this right to a Read more…
The quickest we have ever sold a dealership was one week. The longest was over two years. If a dealership is market priced with a desirable franchise and in a good market, we would hope that from its listing to closing would be within a six month time frame. Items Read more…
In order to make informed decisions about the future direction of your business, you need to know the value of your dealership. You need to look at market conditions, franchise desirability, profitability, and the facility itself. Ask yourself these questions to determine the value of your business: Where is your Read more…