BUYING & SELLING DEALERSHIPS
Experience at the Table.
Judgment Before the Deal.
Advisory support for buyers and sellers navigating valuation, negotiation, contracts, site control and transaction risk.
We Are Advisors, Not Brokers.
Buying or selling an automobile dealership is a complex transaction. The details can materially affect what a buyer pays, what a seller receives, and what happens after closing.
The Details Make the Difference.
“People and businesses with experienced advisors generally make better decisions.”
Our role is to help clients avoid costly mistakes and recognize opportunities others miss.
Where We Help in a Transaction
Independent dealership guidance, during and around the closing.
VALUATION
Understand the value of the dealership and the assumptions behind the number.
DUE DILIGENCE
Identify issues that can affect value, risk, structure or the economics of the transaction.
NEGOTIATION
Help buyers and sellers understand the commercial consequences of the terms being negotiated.
CONTRACT DETAILS
Review the practical dealership implications of the words, definitions and allocations in the agreement.
SITE CONTROL
Consider dealership real estate, site control and related issues that can influence the transaction.
POST-CLOSING CONSIDERATIONS
Recognize obligations and practical issues that can continue beyond the closing table.
Built From Decades of Deal Experience
When John Pico began representing dealers in 1972, there were few resources available to dealers or attorneys dealing with automobile dealership transactions.
He spent nearly ten years researching, organizing and writing a comprehensive two-volume reference on buying, selling and representing automobile dealerships, dealer principals and investors.
1972
Advising dealers since
1,000+
Dealership transactions
Why the Fine Print Matters
A dealership transaction is shaped by more than the headline purchase price. Definitions, allocations, inventories, factory requirements, site control and other terms can materially change the economics.
Fair Value vs. In-Place Value
Different valuation concepts can lead to materially different conclusions. The right question depends on the purpose of the assignment.
Blue Sky & Goodwill
Understanding how goodwill and blue sky are valued and allocated can be central to a dealership sale.
Inventory & Assets
Parts, fixed assets and other dealership-specific items need appropriate treatment in the transaction.
Words, Sentences & Definitions
The client’s supplied material emphasizes that contract language can have consequences long after the parties sign.
A Reference Built for Dealership Transactions
John Pico’s two-volume reference, Buying and Selling Automobile Dealerships, was published in 1989. The supplied material notes that many forms commonly used in dealership transactions trace their origins to forms first published in the work.
Industry Publications
The client’s publication archive includes articles on buying and selling, valuation, negotiation, blue sky / goodwill, dealership site control and investing in dealerships.
A long history of automotive industry involvement.
Support for Both Sides of the Table
For Buyers
Evaluate the opportunity, understand the economics and recognize risks before committing capital.
For Sellers
Understand what you are selling, what it may be worth and the terms that can affect your outcome.
Planning to Buy or Sell a Dealership?
Talk with an experienced dealership advisor before the next step.
