Automotive
Businesses
for
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Selling
an
Automotive
Business
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Your
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Boss
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What Your
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a Franchise
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Art Blumenthal
Now, by leveraging the experience, in-depth knowledge, and extensive contact network I’ve achieved in over 40 years in the tire and automotive aftermarket industry, I’ve been able to establish and grow one of the leading nationwide aftermarket-specific business brokerage service firms, bringing value-added benefits to both buyers and sellers.
Testimonials
Jim Torres, Seller
“After thinking I should be doing a nationwide search to find the right buyer for my business, it took my broker Art Blumenthal to find the perfect candidate right in my own backyard and already a friend of the family!”
Jeff Pettit, Co-Buyer
“The business was fairly and accurately presented to us by the Hermansader’s and Art Blumenthal. We successfully negotiated the price and terms somewhat and Art was very helpful with that in a very professional way.”
C.J. Passmore II, Seller
“I contacted Art in December, we listed it in the beginning of January and he found a buyer by the middle of February. Art had put together a very comprehensive presentation for potential buyers… I was very impressed with it… and the rapid response was exciting…”
Bill Brickhill, Buyer
“Buying a business is like working on a MBA the hard way…a real trial-by-fire. A good business broker can smooth that arduous process…”
Sam Mitchell, Seller of Mitchell Tire Service (Goodyear Independent Dealer), Glassboro, NJ
“I recommend to anyone who is looking to sell their aftermarket business to obtain the services of a business broker who knows our industry. Art Blumenthal is the model for that, and he was so good that once we settled, he was the first one I paid.”
John Bridgwater, Buyer
“As a business broker, Art’s job is to write a sellable package. So that’s what he did. He knows better than anyone what it takes for the banks to buy the package to finance it. He worked with the seller to create a package that the banks would buy…and that of course an interested party would buy. You have to have the numbers and everything in place for someone to say ‘Hey, I could make money at this and be profitable.'”
Winnie Wright, Seller
“When we first met with Art, we told him we might have the buyer already in place, but because we were not certain if John would qualify financially, we wanted to keep our options open. My assignment was to get our numbers up for the financial package to be created by Art, with whom we signed our agreement in early August. We then approached John, and he was gung ho and said he wanted to buy the shop.”
Bill Paine, Seller
“Art’s consultation was very helpful in navigating us through the trials and tribulations of bank financing and through the documentation and procedures of the SBA-guaranteed loan program.”
Paul Cowden, Seller
“Art knew exactly what he was doing when he dove into the financials and was able to establish a basis for valuing my business at over three times what I had thought. Wow! That new selling price figure put a while new slant on the financial realities of my upcoming retirement years. The only thing that was better than the sale price Art established was when he actually got what he said was its true worth.”
Edie Lake, Co-Owner and Seller
“Art and Lisa are a ‘dynamic duo’ who seem to work so well together. The sales portfolio for Gasoline Alley that Art produced was so comprehensive, including not only a complete picture of business information, but area demographics and auto service industry data and information…really everything a potential buyer would need to make an informed decision. I thought it was phenomenal.”
The Sellability Score
When you spend a lifetime trying to build a successful business, it leaves little time for much else, including thinking about an exit plan. Whether you are creating an exit plan for the short term or years into the future, it’s never too late or too soon to start understanding — and increasing — the value of your business.
“Sellability” is a powerful indicator of that value— regardless of whether or not you have any intention or interest in selling your business today — because it points directly to the underlying issues in your business that may undermine the value. Those same issues are probably causing mounting frustration for you — the feelings of being overwhelmed, working too many hours, dealing with inconsistent customer experiences, and the difficulties of managing cash flow.
Whatever your personal and financial goals are for your business, as a responsible business owner, you simply have to be able to answer these questions:
- If you wanted to, could you sell your business today for a number you would be happy with?
- Is there anything that you could be doing each day to make your business more valuable?
- What steps can you take to reduce the number of hours that you work, while simultaneously boosting the profits and the sellability of your business?
The “Tire and Auto Service Sellability Score” can assist you in answering these questions.
My customized on-line questionnaire is available for free. It’s easy-to-use and takes only about 15 minutes to complete. Based upon your questionnaire answers, I will develop and provide a comprehensive report for your business which we can later review together.
Our Services
Selling A Business
Your business isn't just any business. It is a living monument to late-night homework and early-morning deadlines. It is an accumulation of sweat, equity, and lifetime achievement.
Therefore, the decision to sell your business is one of the most important decisions of your lifetime. Turning your operation into cash is a complex matter involving a number of variables, many of them unique to your business. Additionally, you're likely to face an uncertain economy, unbridled competition, and sophisticated buyers.
I provide competent and experienced professional guidance, so you will not be facing them alone.
Exit Planning
If you've begun giving serious thought to exiting your business within the next 1 to 5 years, now is the time to start the process. Exiting is a multi-step process that can take from weeks to years depending on the size of the organization and how well prepared the business is to present to buyers and receive the highest sale price possible.
When it comes to planning, how you exit your business is just as important as how you start it. The goal is to maximize the value of your company before converting it to cash and minimize the amount of time consumed.
Getting out of business is a process. The length of time required to complete the process is directly related to the complexity of the business and the scope of action steps that you can immediately implement to improve the financials and make your business more desirable to the pool of available buyers.
Business Valuation
An inaccurate view of the value of your business will adversely impact the success of the sales effort.
A properly determined and executed business valuation is essential when the owner is ready to consider selling the business. You don’t want to leave money on the table with a selling price that undervalues the business, while overvaluing the business may result in little buyer activity and a listing that languishes on the market.
Most business owners use tax returns or financial statements prepared for tax purposes as the basis for the financial presentation of their business. As a result, the true market value of the assets is not reflected because of an understated cash flow that does not include depreciation, interest payments, personal expenses or other owner benefits that are written off for tax purposes.
While this may be good for saving you taxes, it can result in a sale price that does not reflect your years of hard work to build a successful and profitable business. A business intermediary will prepare a “Recasted Schedule of Seller’s Discretionary Cash Flow” that adds back the financial benefits that a buyer will receive that are not presented on the tax return.
As the business intermediary, I have reviewed literally hundreds of tax returns and financial statements, which allow me to instantly spot expense levels that are outside of the aftermarket norms. I have the knowledge, dedication and experience to provide a broker’s opinion on the “Most Likely Selling Price” that is based upon well over one hundred facilitated transactions and years of following sales of aftermarket businesses on a nationwide basis.
Buying A Business
Unless you've bought or sold a business in the past, you'll find that buying a business can be a confusing and even trying experience.
That's why it is important for the prospective buyer to be knowledgeable about the process involved in buying a business.
Thoroughly understanding the process will assist even a veteran of business transfers in working with me as the intermediary.
Recent Transactions
From Our Blog
Points to Consider Before You Sell Your Family-Owned Business
September 24,2020…As the old saying goes, “At some point, the time comes to sell almost every business.” But when it comes to family-owned businesses, a level of emotion comes into play. These kinds of emotions are not typically seen with other types of sales. Family-owned businesses sometimes bring with them the complexity of family dynamics,…
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Confidential Business Reviews Should Establish Trust
August 26,2020…When you are selling a business, your business broker or M&A Advisor will likely create a Comprehensive Business Review, or CBR. This comprehensive document can then be presented to prospective buyers once they have signed all necessary confidentiality documentation. It is essential that this document builds trust between both parties, as this will go…
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Essential Meeting Tips for Buyers & Sellers
July 30, 2020…The buyer-seller meeting is quite often a “make or break” meeting. Your business broker or M&A Advisor will do everything possible to ensure that this meeting goes as well as possible. It is vitally important to realize that rarely is there an offer before buyers and sellers actually meet. The all-important offer usually…
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