Buying an Auto Dealership is One of the Most Important Decisions You’ll Ever Make
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When you’re looking to buy a car dealership, it’s natural to base your search on your own personal preferences.
Unfortunately, that approach can end up costing you plenty in the long run…
Let me explain…
A few years ago, I called up my clothier Dennis and said, “I would like to look at some sport coats.” He told me to come to his store around 4 o’clock.
When I arrived, he had four sport coats positioned around the room and asked, “What do you think of these?”
My first reply was, “I don’t like any of them!”
Then he asked about the coats I already had at home. (When do I wear them? Where do I wear them?) After evaluating what jackets I had at home and when I wore them, I looked again at what Dennis had picked out and realized he had made some pretty good choices for me.
Now, keep in mind – Dennis took the time to understand – and help me understand – my wants and needs. He considered my current clothing, my preferences – all of my needs and wants – before coming up with his selections.
Yet, my initial reaction had been, “I don’t like them!”
Turns out, I bought two of his selections and wore them until I just couldn’t wear them anymore. They became my absolute favorites. One was a cotton faded blue blazer I wore with jeans and the other was a gray rough wool blazer I would never have picked for myself.
I received many compliments on how nice they looked on me – and I felt great wearing them. Yet, without Dennis’ guidance, they would never have made it out of the store.
Many of our clients react the same way while buying a car dealership!
For example, when we list a Toyota or Honda store, we get a lot of inquiries.
But the reality is that those stores are not the best fit for a lot of potential buyers. Why? Because those dealerships just do not not fit their individual strengths.
We Help Our Clients Find a Store That Capitalizes on Their Strengths
If a man has multiple successful dealerships in a single-point market of 50,000, it may be difficult for him to run a Honda or Toyota store in Atlanta because he has no frame of reference for that type market. By the same token, someone with a Honda or Toyota store in Atlanta may find that a similar store in a town of 25,000 people isn’t a good fit for the same reason.
Also, some clients may focus on buying stores outside of a metro market or outside of a single-point market where they pump in. Other dealers are more comfortable sitting inside the market and pumping out. Of course, the marketing strategies are quite different for each type operation. Understanding these differences can make a big difference in terms of your long-term success.
Unfortunately, many buyers simply do not evaluate each opportunity with the peripheral information that will help them increase their wealth and more importantly, achieve peace of mind with their purchase decision. It can be really difficult to see the forest for the trees when you try to navigate buying an auto dealership on your own.
That’s Where We Can Help…
We start by asking questions – like my clothier Dennis did for me.
For example, we may ask:
- What size of a store do you currently have? Is it domestic or import?
- Who’s going to run your new location – a current employee, existing management or yourself?
- How do you operate your existing stores? (What is your used-to-new ratio? Are you big on fixed or focused on the front-end?)
- What kind of experience do you have in that size of a market? (Is it a single-point or multi-point market? a metro or 30-mile-radius market?)
In other words, we take the time to get to know you. This helps us identify the right fit for your personal situation based on a broad range of factors, including your strengths.
If one of our current stores fits, that’s great. However, most of our clients do not buy the first dealership they consider. We also work with clients on stores that we don’t have listed. In fact, many of our sales are made on stores that are never advertised or offered to other buyers.
We take the time to understand your wants and needs and work with you for as long as it takes to come up with the match that’s just right.
And a good match is more than just a good deal… even if it does take a little longer to find.
Call me at 800-800-4728 and we’ll spend some time exploring your strengths to discover your options.
I look forward to talking to you!
My Best to You,
Check Out the Dealerships We Have Available at DealershipsAvailable.com!
