Do you need an advisor to sell your dealership?
When we first engage with an RV dealer looking to potentially sell their business one of the first questions they generally ask is “Why do I need you to sell my business?”
Our response is often the same…
“You don’t…if you can sell it yourself.”
But isn’t this an article about why you DO need a business Advisor? Yes, and therein lies the quandary. Most dealership owners we work with have never sold a business before. How do you know how to do something if you’ve never done it before? Do you want to risk your greatest asset on an endeavor you’ve never tried before? After several years in this field and successfully closing over 50 RV dealerships, it has become quite clear that most RV dealership owners do not know how to go about selling their business.
You built your dealership to provide a living for you and your family, provide a service to your market and community, and to provide for your employees and their families. You run your company; that’s what you do and you’re good at it. Running your company is a full-time job.
Selling your company is also a full-time job. You probably don’t do your own taxes. You probably do not handle your own retirement accounts. You likely did not sell your house on your own or buy one without the help of a realtor. Most of us have professionals within those fields who handle those tasks for us. These are generally trusted professionals and advisors that specialize in one particular area. You trust them to do what is right on your behalf and to look out for your best interests. So when it comes to selling your most valuable asset (your RV dealership), why would you try to handle that task yourself?
Selling an RV dealership is a unique endeavor within a unique industry. It is truly unlike buying or selling anything else out there.
Take a look at the questions below and answer them for yourself.
- Do you know how to value your dealership?
- Do you know how to evaluate your business financials for cash flow?
- Do you know how to market your dealership without people knowing it’s for sale?
- Do you know how to go about finding buyers (the right buyers) for your dealership?
- What information does a potential buyer really need in the initial conversations?
- Do you show a potential buyer your tax returns in the first meeting? What about the second meeting? Or the third?
- How do you handle a buyer that wants more and more and more information but will not write an offer?
- Do you know how to screen and qualify buyers with three questions?
I do not want to paint a false picture that nobody can ever sell their own business. It happens. But it has been our experience that it is a rare occurrence when a seller successfully markets and sells their own RV dealership unless it’s to an employee or a family member. But it does happen, hence my response when people ask me why they should pay us to sell their dealership:
“You don’t…if you can sell it yourself.”
Now let’s revisit our questions above. Most people do not know the answers to those questions. Those are vital questions about selling a business. Going into this endeavor blind without ever having done it before by yourself is a dangerous gamble to take. Attorneys, CPAs, real estate agents—all of these are professionals who provide you specific services. Too many of them say they sell businesses but they never have or they’ve sold a few over 20 years, etc. Be careful.
The complexities of selling an RV dealership cannot be understated. The stakes are high, and the process is intricate, involving not just a deep understanding of the market, but also of legal, financial, and strategic considerations that are unique to this industry. This is where our expertise shines. With over 50 successful dealership sales under our belt, we have honed a process that is designed to maximize your sale price while minimizing the stress and risk involved in such transactions.
Our team doesn’t just work as advisors; we act as your partners through every step of the sale. From valuation to closing, we navigate the myriad of challenges that can arise, ensuring that every aspect of the sale is managed with professionalism and an eye towards achieving the best possible outcome for you. We understand that your dealership isn’t just a business; it’s a legacy. And our goal is to honor that legacy by securing a sale that reflects its true value.
Consider this: the right buyer isn’t always the one willing to pay the most at face value. The right buyer is the one whose vision aligns with the legacy you’ve built, ensuring that your employees, customers, and community continue to thrive. Finding this buyer isn’t just about listing a sale; it’s about strategic positioning, leveraging networks, and sometimes, confidentiality that maintains the integrity of the sale process. This nuanced approach is what sets us apart.
We know that the decision to sell your dealership is not made lightly. It’s a culmination of years of hard work, dedication, and passion. And when you decide that it’s time to turn the page, you deserve an advisor who respects that legacy and is equipped to navigate the complexities of such a significant transaction. Our promise to you is not just our expertise, but our commitment to achieving the best possible outcome for the business you’ve built.
If you’re considering selling your RV dealership, or even if you’re just beginning to think about what the future holds, we invite you to reach out for an initial consultation. Let us show you what a difference the right advisor can make.
Contact us today to schedule your no-obligation consultation. Discover how partnering with an experienced advisor can transform the sale of your dealership from a daunting task into a rewarding, strategic move. Visit our website at rvbs.com or call us directly. Your legacy deserves the utmost care, and we’re here to ensure it receives nothing less.
Schedule Your Consultation Now
The future is wide open, and with the right preparation and support, the sale of your RV dealership can be a pivotal moment in your life’s next great adventure. Let’s embark on this journey together.
Roger L. Nuttall served as President of Camping World, Inc. from January 2011. Prior to that, he was the Chief Operating Officer of FreedomRoads, LLC from January 2009 to January 2011, and the Executive Vice President and Chief Financial Officer of FreedomRoads, LLC from November 2003 to December 2015. From 1981 to 1983, Mr. Nuttall was a partner at McKay, Nuttall, and Reid, an accounting and consulting firm. Before that, he held various staff and management positions at Grant Thornton LLP from 1974 to 1981. From 1983 to 2003, Mr. Nuttall served as Chief Financial Officer and board member of Blaine Jensen & Sons, Inc., a multi-dealership RV company. He received a B.A. from Weber State University.
Mike has almost 30 years’ experience in the Recreational Vehicle (RV) Industry and provides advisory and consulting services to clients within that industry.
Scott Degnan is the Partner and Co-founder of RV Business Solutions and President of Degnan Management Group, Inc., a consulting firm.
Dom Bookman is the Chief Operating Officer and Investor Relations lead at RV Business Solutions. With 12 years of experience in the tech industry, Dom is a serial entrepreneur specializing in business development, marketing, and growth strategies for leading brands. He has successfully piloted startups and facilitated multiple exits for early-stage companies.