The Impact of COVID-19 on Buying or Selling a Business

Nearly every independent shop owner, chain or franchise operator in the tire and automotive service business has been materially impacted by the effects of COVID-19, despite being considered “essential” services. Many dealers have called me to say that they have been thinking about selling their business in the next 1-2 years but wonder if the…

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Small Independent Chain Grows and Thrives by Focusing on Personal Touch

Latest Acquisition Leverages Legacy of Technical Expertise and Quality Customer Service… Baltimore, MD…February 18, 2020… AutoStream Car Care, a leading independent tire and automotive repair and maintenance service chain in the greater Baltimore/Washington area, has added its sixth location with the purchase of long-established Baltimore business Brentwood Automotive, founded by owner Ed Nemphos in 1976.…

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Off to a Great Start: January, 2020

More Buyers Than Sellers… The high level of buyer interest in purchasing an automotive service business continues into the new year, as many Buyer candidates have made New Year’s resolutions to “Be Your Own Boss.” Bank/SBA loans remain available and interest rates have started to decline, with expectations that the Fed will keep rates lower…

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What a year it has been!

It means the world to me that so many auto and tire service shop owners over the years have put their trust in me to work closely with them as they implement their exit strategies and finalize the sales of their businesses. Reflecting on the past year, I am delighted that so many deserving shop…

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Latest Sales & Newest Listings: December, 2019

Latest Sales… Congratulations to Edward Nemphos on the sale of Brentwood Automotive, an award- winning independent tire and automotive service center in Baltimore, MD owned and operated by Ed since 1976. After 43 years, Ed is looking forward to retirement and having time for international travel with his family. The buyers are Rick Levitan and…

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Thinking of Selling Your Business in 2020? What You Must Do NOW…

Joe has owned a successful tire business in suburban Boston for 31 years and has decided it’s time to seriously consider selling and retiring. Joe’s sales are up, the economy is booming, bank loan interest rates are dropping, and there is a whole new generation of potential entrepreneurial buyers. He’s tired and burnt out and…

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Latest Sales & National Tire/Service Chain Update: November, 2019

Latest Sales… Mohammad Tariq did not have prior automotive service experience, but is excited to have completed four weeks of training and assume the reigns of the profitable Midas Shop in St. Clair Shores, MI. The previous owner was Michael Gnesda, who is retiring from fourteen years of ownership of the iconic brand franchise. Joe…

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Understanding Confidentiality

It’s important to understand the various aspects of confidentiality when it comes to selling a business. This can involve understanding what to disclose and when, and the legal obligations that need to be met by business sellers. Knowing what to disclose and when Knowing what to disclose and when can have a significant impact on the…

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6 Reasons Shop Owners Need a Transition Plan

February 26, 2019… Why do shop owners need a transition plan? Below are six core reasons. 1. Transitioning out of a business likely is the most important financial transaction of a shop owner’s life. 2. Transitioning out of a business is complex. 3. The financial security of a shop owner and his or her family depends on the creation…

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