Thinking about selling your car dealership? Not sure how much to value your business before selling? Want to get the timing right to maximize your profit?
The best time to sell a car dealership is when your profits and sales are on the rise. Your auto dealership will be the most attractive and you are in the best position to attract potential buyers.
You need to take a detailed look at your dealership before you decide to sell. You’ll need to assess your company, develop an exit strategy, and determine the company’s overall value before listing it for sale. Where do you start? A business assessment and business valuation is a great starting point.
To ensure you are in the best position to sell, consider working with a business broker. At Beacon, our expert team can provide your business with a proper valuation, help you set the right sales price, market your business, connect you with buyers and much more.
Assess the Current State of Your Car Dealership
Understanding the current state of your car dealership’s financials is a great place to start. Before putting it on the market, you need to fully understand your company from a financial perspective. You need to assess your company’s financials, identify your strengths, potential weaknesses that can be improved, and reasons why your car dealership is attractive to potential buyers.
Here are some questions to consider when assessing your dealership:
- What is the current financial state of your company? Is it profitable? Are sales growing?
- Are sales projected to grow in the coming years?
- What are your top assets? What are main liabilities?
- How strong is the car sales industry in your region?
- Does your company have a good reputation? What makes your dealership unique among competitors?
- Which issues need to be addressed immediately? Is there anything about your company that could interfere with the sale of your car dealership?
Asking these types of questions will give you a good baseline of where your company is from a financial and brand standpoint. It will also provide you with some direction as to what needs to be improved and addressed before you list it for sale.
Get a Valuation for Your Car Dealership
Many car dealerships are tempted to perform a self-valuation for their company. However, with so many factors to consider, they often have difficulty self-assessing. A business valuation is a must before selling. The most effective method to get a valuation is by using a business broker. It’s very important to establish a price, especially if there are differing opinions among business partners. Valuations play a key role in sale negotiations, for taxation and legal purposes, and much more.
Use an Experienced Business Broker to Assist with the Sale of Your Car Dealership
Our expert business brokers have experience helping car dealerships with valuations and the sale of their businesses. We can advise you on the right steps to take to put your auto dealership up for sale. We’ll ensure your business is strong, attractive, and well marketed to buyers to help you get top dollar for your company.
Why leave things to chance when you can use a business broker to help you maximize your profits. Take peace of mind in knowing the sale of your car dealership is in good hands with Beacon brokers.
Why You Need a Business Broker to Sell Your Car Dealership
It’s common to question the need for a business broker. Brokers are experts at creating the right environment to get the most for your business. There are many unforeseen circumstances and potential issues with the sale of a company. You risk wasting time and effort on the wrong sales tactic or working with unqualified buyers. Business brokers provide you with an unbiased perspective about your company and will help you avoid common issues that could derail the sale of your car dealership.
Sell Your IT Business with Beacon
Are you or your business partner thinking about potentially selling your car dealership? Not sure where to start or how to approach the sales process? Speak with our expert business brokers at Beacon. We can help you assess your company, provide you with a proper valuation and explain your options for selling your company. We’ll help you with all aspects of the sale of your company. Contact us today to start the process of selling your car dealership.