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Chasidy Rae Sisk

chasidy

Chasidy Rae Sisk is a freelance writer from New Castle, DE, who writes on a variety of topics.


She can be reached at crsisk@gmail.com.

 

 

Friday, 23 October 2020 17:40

Be Prepared and Be Ready: Tips for Selling Your Business

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Rick Schwartz of Schwartz Advisors shared “Tips on Selling Your Business” during ASA’s October Webinar Wednesday presentation. Rick Schwartz of Schwartz Advisors shared “Tips on Selling Your Business” during ASA’s October Webinar Wednesday presentation.

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If you own a collision repair business, you will eventually have to ask: “Is it time to sell?”

Rick Schwartz of Schwartz Advisors discussed this important decision Oct. 21 during “Tips on Selling Your Business,” part of ASA’s Webinar Wednesday series.

 

Tony Molla, ASA vice president of industry relations, introduced Schwartz and the presentation: “While it’s not uncommon to have a succession plan in place, changing circumstances can and often do require a different strategy. It’s an individual decision that can only be made by a business owner.”

 

Beginning by looking at mergers and acquisitions (M&A) over the last decade, Schwartz pointed out the strength of M&A in the automotive aftermarket industry. Though COVID-19 had a significant impact earlier this year, this industry is recovering faster than many others, with private equity firms investing and selling companies.

 

“Be prepared and be ready," Schwartz advised. "If you haven’t already, you will have to address mergers and acquisitions eventually---whether it’s your business, your competitors or others in your market. There’s a lot of opportunity to take advantage of M&A.”

 

Although current M&A interest creates a lot of opportunities, buying or selling a business is a personal decision made by the business owner.

 

“This might be the most important business decision you’ll ever make, so you have to be clear about what your objectives are,” Schwartz said. “If you’re ready to consider selling your business, be prepared! Business owners that do their homework before starting the sale process get better results.”

 

According to Schwartz, automotive repair business valuations are high right now because large corporations want to grow and many are backed by private equity investors, causing a rush to consolidate local and regional chains; however, “valuations ebb and flow with the economy, and they will not always be this unbelievably high,” he cautioned.


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