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Do you have an exit strategy?

Joe Marconi
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Gonzo Grand Master

Gonzo

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Yes, I think about it all the time. Even with a profitable shop I think it will be a hard sell, since I'm a specialty shop, which also narrows the possibilities of selling it outright. I compare it to what it's like to find qualified electrical technicians. (Since that is my main forte) They are few and far between.

 

When I do sell, which I know I will someday, I think the odds of finding a buyer is slim to perhaps... none.

 

It may come down to a piece by piece sale until it's all gone. But, I'm always hoping for somebody to come across with the cash to buy it or finance it. Because when I'm done... I'm done. I'm not going to be one of those owners that sticks around for a few years after the sale.

 

We'll see what happens. My lawyer is older than I am and he's having the same issues trying to sell his office. LOL

another day in paradise. It will all work out some how....always seems to.... :)

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  • 6 years later...
Guest

Guest

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I make about 200k a year in my small shop even though it's 5k Sq ft. Half of that is rent that I pay myself. A broker who says he specializes in auto repair said I'd be lucky to get 150k for the business and a buyer would insist on purchasing the property on top of that. The guy never even looked in the shop just wanted to see my tax return. Does that seem right? I just laughed because why would I sell a good business for 1.5 what I make yearly? 

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  • 2 weeks later...
rpllib Enthusiast

rpllib

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I was fortunate to be introduced to Bob Ward several years ago. What a difference that day has made in my life. Bob has a knack for structuring exit plans for a perpetual outcome. In my case it involved having a young key employee with the time and energy to make this kind of arrangement work. Young, time and energy are the key words, Imo. There would be no wasted moments in a conversation with Bob.   https://www.perpetualbusiness.co/ 

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