November 17, 2019 is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

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Selling a Company


Selling an Antique and Classic Auto Dealership

With the economy struggling to rebound, the shadow inventory of antique and classic auto dealerships in the business-for-sale marketplace seems to be rising. That could make this the perfect time to list a successful antique and classic auto dealership

Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an antique and classic auto dealership sale works.
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Eventually, it will the time will come to exit your business. And when that day arrives, you need to know how to sell your antique and classic auto dealership in a way that achieves positive outcomes for you and the business.

Legal Concerns

In an antique and classic auto dealership sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . By the time the deal reaches the final contract, many of its features are set in stone. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.

Preparing Your Employees

As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. The more people who know that the business is on the market, the riskier the sale becomes. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.

Realistic Expectations

Objectivity is a rare commodity in a business sale. Sellers typically overvalue their companies compared to the rest of the marketplace. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in antique and classic auto dealerships, you might find these additional resources to be of interest.

Selling Part of a Business

Marketing an Antique and Classic Auto Dealership

How to Sell a Business

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The learning process for selling an antique and classic auto dealership is an ongoing journey. Send us your comments and questions, and let's continue the conversation!

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Need Information on Starting an Antique & Classic Auto Dealership?

If starting an antique and classic auto dealership is on your agenda, these guides will help you get started:

How to Start an Antique & Classic Auto Dealership

Do You Market Products or Services to Antique & Classic Auto Dealerships?

If you consider antique and classic auto dealerships to be sales prospects, there's more applicable information for you elsewhere on our site. Try these useful resources instead:

Selling to Antique and Classic Auto Dealerships

Mailing Lists for Antique and Classic Auto Dealerships

More Business-for-Sale Advice and Information

If you are looking for exit plan advice for a different kind of business, please browse our list of exit planning guides below.

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