Archive for September 2013
Do two things when you sell your business
Interesting NY Times blog on selling your small business.
“And that’s why I always tell people to do two things when they sell a business. First, take the highest offer. Second, get as far away from the business as you can, as fast you can. The unfortunate reality is that, in most instances, the former owner is probably going to hate what the new owner does with the business.”
I would add to this, by reminding sellers of the requirement for earnout consideration as part of some deals; perhaps take the offer with the most cash, not necessarily the highest price. While sometimes a deal can’t be had without an earnout, remember that any price subject to an earnout is at risk from the sellers’ point of view.
How not to sell your contracting business?
http://boss.blogs.nytimes.com/2013/08/29/the-right-and-wrong-way-to-sell-a-business/#more-78264
Good NY Times article on selling a contracting business to employee/managers. The moral: talk to the employees early and bring them along over time as managers.
The auto dealership consolidation trend continues …
http://thechronicleherald.ca/business/1151832-oregan-group-adds-bmw-to-the-mix
Halifax-based O’Regans Automotive Group has acquired Ed Backman’s Halifax BMW.
The consolidation trend in the retail auto industry has been going on for some time and has only accelerated, given the capital intensity of the dealership business and the aging demographics of owners. It is now said that over 60% of dealerships in Canada are owned by dealer groups, of which O’Regans is but one of many (including in our region).
