What You Should Know About Selling a Car Dealership

Gearing up to sell your car dealership? The process is complex, making it difficult to even start. There’s a lot to learn, too, which is why it’s so important to have a reliable broker on your side. Here are a few insights into the market that will help you prep for sale. Remember, though, that nothing replaces working with a seasoned broker.

High Goodwill Values

Today, goodwill prices are higher than they were before the recession. Since many dealerships have shut down or sold, there are a lot of serious buyers out there looking for high quality dealerships. Since there aren’t a lot of dealerships to choose from, those buyers are willing to pay premium prices. However, this trend won’t last, as buying habits in this industry are cyclical. It’s important to take advantage of the unique market before it changes. This may be the last chance to sell your dealership at a premium price.

Effective Marketing Campaign

In order to attract the right buyers, your dealership has to be packaged in a specific way for sale. Your broker will walk you through the process, helping you develop the right marketing plan and materials that buyers will want and expect. Before any marketing strategy moves forward, it will be explained to you and marked with your stamp of approval. If you’re not happy with something, you and your broker can work together to change it. Marketing can be a full-time job. When your broker handles the campaign, you can focus on your dealership’s everyday operations. 

Finding the Right Buyers

Brokers who have been in the business for a while already have a database of potential qualified buyers. Ideally, you’ll find a “unique buyer.” These types of buyers tend to spend more because they have various requirements that they need met. While buyers are contacted, your broker will make sure that confidentiality remains a priority. The more exposure it takes to find a buyer, the more possibility there is for a confidentiality breach.

When working with a professional broker, like Performance Brokerage Services, they shouldn’t ask for a retainer or upfront fees. Also, you shouldn’t have to reimburse the broker for any part of the cost. Ideally, you want a broker that only gets paid once you get paid.

Speak Your Mind


CommentLuv badge