Art Blumenthal, Author at Shop Owner Magazine - Page 2 of 3
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Insider Tips About SBA/Bank Financing When Selling Your Shop

As a shop owner contemplating the sale of your business, understanding the elements of bank financing is key to ensuring you will maximize the sales price and minimize the process time.

Looking To Sell Your Business? Debunking An Aftermarket Myth

As a tire or automotive service shop owner looking to sell your business, you may be making the process even more challenging by mistakenly disqualifying potential buyers who would actually make great owners.

Buying/Selling An Aftermarket Business

Many shop owners with whom I interact who are considering the sale of their businesses, or at least planning ahead for that inevitability, have gained the very valuable knowledge that, regardless of whether transitioning the business to a family member, employee or outside buyer, it is important for the seller to focus on making the business as sellable and valuable as possible for as long as possible.

When Timing Is Everything … The Best Time May Be Right Now

The automotive aftermarket is viewed by many, both within and outside the industry, as a healthy, vibrant, vital growth industry. Qualified serious buyers consider auto service as more recession proof and less stressful than restaurants and other popular categories of businesses for sale.

selling not and later
Wright’s Automotive: Protecting And Preserving A Legacy With A New Owner

An independent automotive service business can be so much more than bricks and mortar, equipment, employees and a source of revenue. It can also be a source of pride – a testament to a lifetime’s worth of hard work. I sometimes share case studies of the clients I have been able to assist in my role as an aftermarket business broker and provider of intermediary and advisory services. I do that when I think the story will provide a reader in ­similar circumstances with new insights or helpful information.

Wright's Automotive sale
Do You Know Your Shop’s ‘Sellability Score?’ Part 2

“Sellability” is a powerful indicator of the value of your business, regardless of whether or not you have any intention or even interest in selling your business today. A high Sellability Score may confirm or surpass the value you have in mind. A lower Sellability Score may point directly to the underlying issues in your business which undermine its value.

SellabilityScore
Do You Know Your Shop’s ‘Sellability Score?’, Part 1

It’s fun to imagine how much your business is worth. It’s not as much fun when you find out that for all the energy you poured into it, a business broker or potential buyer can’t see the value you can, or thinks your number is unrealistic.

SellabilityScore
Will Your Tax Returns Understate The True Value of Your Auto Service Business?

After more than 30 years of owning and successfully running the town’s well-known and successful auto service business…starting out long ago as a single location and growing to multiple sites over the course of his career…Dan the Auto Man is about to make the biggest decision of his professional life. Dan has decided that it’s

Top 5 Reasons A Deal Falls Apart, And How To Prevent Them

Your tire or auto service business has provided for your livelihood. It has created jobs, sales, profits, equity and marketplace visibility. And now you’re ready to move on. Maybe you’re seeking an exit right away. Maybe you’re planning for the future. Either way, and regardless of the phase you may be in regarding the sale of your shop, if you have questions about how to proceed, you’re not alone.

Case Study: Overcoming Daunting Challenges Selling An Automotive Aftermarket Business

While every transfer of business ownership is unique, unforeseen challenges – in this case, a national business recession that resulted in decreased sales and complicated by environmental and family ownership issues – can cause the selling process to drag on for what seems like forever, to the frustration of all parties involved.

Selling A Multi-Site Auto Service Enterprise: Utilizing The Services Of A Broker

Just a few short decades ago, when Terry Flaherty was in his early 30s, he set a goal to retire at age 55. “I also set targets for what I wanted to make and my net worth at that age. So when I had been in the auto service business for 35 years as the business got tougher and tougher all the time, for me it was the right time to exit.”

Case Study: Buying And Selling An Auto Service Business – A Look At The Perspectives Of Both Buyer And Seller

I’ve found that every new listing is like a fresh new project. Although the perfect outcome is always a Win:Win situation for both buyer and seller, the backgrounds and experiences of the people involved and the steps to getting there are always different. For example, although many business sales involve a retiring, older owner selling to a younger buyer, here’s one that was just the opposite.