12 Reasons to Hire Nancy Phillips Associates
When the time comes to think about your exit strategy and the sale of your dealership many dealers struggle with the question of whether to hire an automotive business broker. Discover the top 12 reasons why you will benefit from the experience, expertise, and comprehensive support of the Nancy Phillips Associates team of highly-qualified automotive professionals.
1. Evaluation of your Dealership based on Realistic Opinion of Value:
Our financial analysts carefully review your dealership performance, working with you to produce an accurate financial picture based on your adjusted bottom line with the goal of determining the upside potential of your opportunity.
- Understanding of Market Area: We help you to arrive at the ideal selling price for your business based on our in-depth understanding of the New England and the New York Region market area as well as and our direct knowledge of the goals and interests of the most qualified buyers throughout this unique sales territory.
- Methods of Computing Value: We utilize both industry wide and New England specific methods of computing the intangible value of your dealership opportunity. Our evaluations are supported by over 30 years of auto dealership transactions throughout New England and New York with and a data base of comparable dealership sales that backs up or sustains our knowledge and instincts.
2. Choosing the top qualified buyers for your dealership opportunity:
3. Preparing You and your Dealership for sale:
- Advance Preparation Procedures: In addition to our undying commitment to you, a primary ingredient of our success is our process. We make sure that you take every step necessary to prepare yourself for the sale so that every obstacle to obtaining your goal is addressed in advance.
- Essential Business Partners: Our team of long-term automotive business associates help expedite and accurately execute the steps necessary to prepare your dealership for sale.
- Automotive Real Estate Appraisal: specialized dealership real estate appraisals for your property.
- Environmental Assessment: reliable environmental site assessments along with cost effective remediation of any potential problems that might impede your transaction.
- Removal of Obstacles to Selling: We advise you on any potential issues that you should address in advance of a sale such as aged used vehicles, excess parts inventories, uncollected receivables, possible legal issues, and much more.
Our company has always sold nearly every dealership we have ever represented. We take our job very seriously and we assume responsibility for the sale of your dealership, whether it be large or small, from the moment you engage us all the way through to the successful sale of your dealership.
4. Production of a professional and confidential formal dealership prospectus to showcase your business:
Our team of experts compile a wealth of data featuring your dealership in order to provide potential purchasers with all the information necessary to make an informed decision at the earliest stage in your transaction. The information we present on your behalf is comprehensive in order to protect you from dangerous re-negotiation over undisclosed or unforeseen issues that often arise when the decision to sell is not carefully planned out.
5. Protecting your Confidentiality:
We understand that maintaining confidentiality is of utmost importance.
- Selective Buyer Prospecting: We cast a broad net at the commencement of our engagement in order to determine the suitability of each potential purchaser we have selected for exposure to your opportunity. After careful internal analysis by our team, we begin working with clients one at a time beginning with those at the top of our list of qualified candidates.
- NDA Agreements: Each potential purchaser must go through a qualification process and is required to enter into a Non-Disclosure Agreement before any information is provided about your dealership.
- Pre-qualifying Buyers: We work quietly and competently to select the premier qualified candidate for your opportunity. We limit your exposure to only those individuals who demonstrate their ability and sincere desire to acquire a business that matches your dealership description.
6. Act as Buffer between you and your Buyer:
One should never underestimate the power of effective communication when selling your dealership. Safeguarding the relationship between buyer and seller is critical. Nancy Phillips Associates has the ability and experience to communicate what is said so that needs and concerns are relayed to both parties in the most effective and non-confrontational manner. Our most important role in protecting your interests is as the intermediary between you and your buyer. We have experienced every issue, problem, and complicated situation that may arise and know how to successfully resolve difficulties to overcome every obstacle to the successful sale of your dealership.
7. Expert negotiation that protect your interests:
Our proven negotiation skills have resulted in hundreds of successful dealership transactions during our 30 years in business. We understand what buyers and sellers need in order to create a fair, equitable and successful transaction. Negotiating and closing a dealership sale is based on the ability to create a relationship of trust between all parties more than anything else. Being represented by an intermediary will give you a tremendous advantage throughout the negotiating process.
8. Allowing You to Focus on Running Your Business:
Unlike the average Brokerage firm that simply puts the Buyer and Seller together, the team at Nancy Phillips Associates takes on full responsibility for every facet of your dealership sale.
- Selling a dealership is complicated, labor intensive, and stressful. The process of preparing your dealership for sale, launching a successful buyer selection process, negotiating agreements and managing the transaction requires a full time commitment.
- What can go wrong when you try to sell on your own?
- Not understanding or skipping important steps in the process. Lack of proper control starting from initial selection of the best potential purchaser, to qualification, offer, negotiations, agreement, and removal of contingencies may result in a transaction that does not close.
- Distracted by the details . Transaction management includes adherence to contingencies, contractual dates and the Buyer application process and is better served by a transaction manager who is adept at keeping all parties on schedule.
- Lack of attention causing business performance to suffer. We get paid for our successful performance at the end of your sale, leaving you to focus on your business operation and the many important issues you need to handle to prepare for closing.
9. Full Oversight of all Documents in the Sale Process:
We work with tried and true agreements that have been developed for and are accepted by franchisors and automotive attorneys alike. Our decades of experience allow you to depend on a transaction process that we enforce in order to expedite transactions that are fair and acceptable to all parties. Our process allows us to circumvent many of the typical pitfalls and our interface with all parties allows us to put out any fires along the way. We have experienced every possible issue that emerges in putting together the sale of a dealership and we know how to solve the problems that can prevent a sale from moving forward.
10. Keeping your Buyer on board through the closing:
Keeping your Buyer on board is one of the most important parts of our job. Both you and your Buyer need to trust each other and have faith in the process we put in place for your dealership transaction. We know how to build that trust with creative strategies that get both parties through the process and to the closing table. Our rate of successful dealership sales is almost 100%. That means that nearly 100% of the dealerships we list are sold and consummated.
11. Manage the Due Diligence Process:
Once your business is under agreement the Buyer will have contingencies to satisfy and due diligence to perform. Our Transaction Manager is responsible for keeping the Buyer on schedule to perform the necessary steps to remove contingencies. We keep on top of scheduling building inspections, environmental reviews, bank appraisals and other important events to ensure that there are no delays to the process and that the dates set forth in your contract are adhered to.
12. Act as Your Friend and Advisor:
We'll work with you as your advisor and confidant as we proceed together through the difficult business sale process. We are there for you! We are on your side. Our motto is It’s Not Just Business, It’s Personal and we take that to heart and mean every word.