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What Is Happening In Auto Repair

April 14, 2017 by Arthur B. Kessler

Owners of auto repair businesses need to do a number of things in order to get their businesses ready for sale. The books and records of the business need to be updated and kept in a form acceptable to buyers and lenders. If there is a cash component to the business, a cash record book must be maintained. While it is not absolute proof of not reported cash income if it matches what a buyer sees during due diligence it lends substantial credibility to the claim of the Owner. It is vital that mechanics working in the business are trained in repair of late model vehicles with particular emphasis on electric/hybrid vehicles. Late model vehicles have so much computerization that mechanics need to be retrained to deal with the computer aspect of late model vehicles.

Keys to Selling Your Business

January 24, 2012 by Kendric Foultz

Knowing what a business buyer wants is the key to selling your business and getting the best price for it.  In this market climate, most buyers are looking for two things, a cash flowing business and a deal.  Here are a few things that a business buyer is gong to want to know that will allow the buyer to asses the situation and determine if yours is the right business for them. • Is the business currently producing an income for the owner? • Is the business seller retiring and fully funded his or her retirement plans?          • Does the sale of the business only represent a small part of the retirement portfolio? • Is the business debt free? • Do the financials show that the depreciation schedules are completely exhausted? Affirmative answers to these questions tell the business buyer that the business is making enough money for their needs and you are indeed in a financial position to sell your business and sell it within the constraints of the marketplace.

Why isn't my business selling?

October 21, 2011 by Kendric Foultz

Almost nothing is as upsetting to a business owner than listing their business for sale and then having it sit on the market for months with no activity on it!  “What is wrong, why haven’t you sold my business” you ask the business broker.  The answer might be complex or very simple.  The best thing to do as a business seller is to ask yourself a basic question.  “Does this offering make sense?  Would I buy my own business as presented?”