Episode #3 Selling Your Automotive Car Business-How to Sell it Faster and for More Money
Jason talks about what it takes to get the most for your automotive business when you decide to sell. What are buyers looking for? What should you look out for? What can you do prior to the sale to maximize your automotive business' sales price? Should you tell your employees you're selling? How do the different terms I'm willing to accept effect the sales price? Should I only accept cash, or should I accept a down payment and monthly terms? How to determine collateral. How are the proceeds of the sale taxed? How important is your local reputation, including Google and Yelp reviews? How are automotive businesses priced based on their labor and parts sales? High labor-based businesses like auto detail shops, car washes, and PDR businesses have a vastly different formula than more balanced businesses like auto paint and body shops, mechanic repair shops, or custom speed shops. How do the warranties you've issued in your ceramic paint coating business effect your sales price? What about transmission or engine or mechanical repair warranties you've issued? Does your paint shop warranty its work? Does taking cash under the table effect your sales price?
All these factors play a role in your business' sales price, so the more you know now, the more you can plan to help boost your price as high as possible, and to have a realistic idea about what your business is really worth on the open market.
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"Selling Your Automotive Business" (Supplement)
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