Bob and Frank had a lot in common. Both had spent years building their RV dealerships from the ground up. They each owned their facility, carried strong product lines, and had about the same number of service bays. Even their annual revenue was nearly identical. On paper, their businesses were mirror images. But when it came time to sell, their experiences couldn’t have been more different.
Bob, a hands-on, no-nonsense kind of guy, figured he could handle the sale himself. “How hard can it be?” he said, sipping his coffee. “Find a buyer, shake hands, and call it a day.”
Frank, on the other hand, knew selling an RV dealership wasn’t as simple as offloading an old motorhome. It was a complex process with legal hurdles, financial nuances, and operational challenges. Rather than dive in blind, he brought in an M&A advisor who specialized in dealership sales.
Bob’s Solo Adventure: A Comedy of Errors
Bob started by calling his RV dealer buddies, assuming one of them would jump at the opportunity. Instead, he was met with lukewarm interest, tire-kickers, and one guy who wanted to trade a vintage Airstream and a boat for the whole operation.
Determined to make it work, Bob listed his dealership online, took calls at all hours, and haphazardly pieced together contracts from the internet. Meanwhile, his business started slipping. Customers noticed he was distracted, sales dropped, and his top technician quit—worried about the uncertainty.
Then came a seemingly serious buyer. Negotiations were brutal. Bob was blindsided by endless due diligence requests, haggling over price, and a bizarre last-minute demand to include his personal vehicles in the deal. He spent nights drowning in legal jargon, consulting online forums, and scrambling to resolve unexpected financing issues. The longer the process dragged on, the more stress he endured and the more money he lost. His once-thriving business was now a tangled mess of confusion, frustration, and missed opportunities.
Every time he thought he was close to closing, another issue surfaced—bank delays, buyer cold feet, or paperwork that had to be redone. Bob was exhausted, his business had suffered, and he realized too late that selling a dealership was nothing like selling an RV off the lot.
Frank’s Expert Approach: Smooth Sailing
Frank, on the other hand, let his advisor handle the heavy lifting. The advisor properly valued his dealership, identified serious buyers, and managed negotiations. Frank didn’t have to waste time fielding ridiculous offers or debating whether he should throw in a free motorhome to sweeten the deal.
Instead, he kept running his dealership as usual, keeping revenue steady and even increasing its value in the process. His staff remained confident, his customers received the same great service, and the business maintained its strong reputation.
When the right buyer came along, everything was structured smoothly—contracts, legal terms, and financing were all in place. Frank walked away with a deal that exceeded his expectations, all while keeping his business and sanity intact. His advisor also helped ensure the transition was seamless, so Frank could enjoy his well-earned exit without worrying about lingering issues.
The new buyer was the right fit for the business, and employees felt secure about their future. Unlike Bob, who was stuck scrambling until the last minute, Frank had time to enjoy the process—maybe even celebrate a little before the ink dried. He left on his terms, with more money in his pocket and zero regrets.
The Moral of the Story
Selling an RV dealership isn’t as simple as selling an RV. It’s a complex, high-stakes process that can either go smoothly or turn into a nightmare. Bob learned the hard way that going it alone cost him time, money, and peace of mind. Frank, on the other hand, walked away with a great deal, minimal stress, and no regrets.
So, if you’re thinking of selling, ask yourself: Do you want to be a Bob or a Frank?
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.