Presentation on theme: "Hal Janke. ‘The Best Way to Predict the Future is to Create It’ Hal Janke, Pres., Certified Business Intermediary, specialist in selling automotive businesses."— Presentation transcript:
‘The Best Way to Predict the Future is to Create It’ Hal Janke, Pres., Certified Business Intermediary, specialist in selling automotive businesses. ‘How to Get Top Dollar for Your Business’ Is your business in order? What if you had to sell your business today, would you receive optimum value? Would you know where to go to find the right Business Agent/Broker?
‘Selling an Automotive Business for Top Dollar’ Exit Strategy Plan: Do you have income statements and balance sheets on an annual basis that match your tax returns? Are you taking out any unreported cash? Any hazardous waste issues - disclose them to the broker, in turn broker to buyer. Disclose any adverse issues upfront, i.e., pending claims, key employee termination, family working in business, new competition in the area, etc.
What adds value to your Business besides earnings Your Team ( Mgr. to Techs) Reputation Location Service, Quality and Honesty Business Web Site, Business Software and Operations Manual Appearance Opportunity to increase Sales
The do’s and don’ts of selling your business Don’t mention to your vendors or customers you’re selling. Don’t tell your employees you’re selling the business (not even your mgr.) Don’t terminate or change key employees once you’ve decided to sell unless its absolutely necessary.
The Do’s to make it flow from start to finish Do be upfront with the Broker in all facets of the business operation and records. Do direct any and all leads or inquiries directly to the broker. Do keep your discussions with the Broker or potential Buyer straight forward. Do you know the time frame from the date of listing the business to sell? ______ months.
Choosing the right Business Broker Where do you find the right Business broker/intermediary in this environment? Do they have experience in selling automotive businesses? What are their designations and are they a member of the national or state business broker organizations?
What is your Business Worth? If you hire an experienced business broker who specializes in the auto industry, he or she should be able to show you comps, format a valuation and provide a list of current auto centers on the market. There will be a hand out for you to read, showing questions that you may want to answer at some point. Your answers will have some impact on the overall value of your business.