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4 Reasons to Sell Your Dallas Automotive Repair Business in 2018
All businesses tend to have a certain ebb and flow that’s dependent on factors related to the current market, customer demand, supply levels and the growth of associated industries. However, automotive repair businesses tend to offer levels of stability and predictability that aren’t always in keeping with the rest of the market. So long as people continue to buy cars, the need exists for reliable car repair businesses. Companies with strong reputations that provide quality service will have customers, even when other types of businesses are faltering.
Currently, the auto repair market in Dallas is ripe with options — some websites have as many as 80 businesses for sale in the Dallas area alone. Here are four good reasons to sell your Dallas automotive repair business in 2018.
Continued High Demand
Due to their stability and consumer demand, automotive businesses are excellent business ventures for first-time entrepreneurs or seasoned business owners. Profits and revenue of general automotive repair have increased steadily since 2014, up to $49.827 million in 2017, a slight increase from $48.919 million in 2016. The good news is, this success is generally expected and forecasted to continue because the auto repair industry isn’t going anywhere. If you’re interested in selling your business, the pool of potential buyers is likely to be numerous.
You’re Tired of Risk (Or Just Tired)
While the automotive industry is stable and reliable overall, owners who are older and have grown the company and increased its value along the way, may become more conservative with risk taking. The bigger the business, the greater the risks can be, and with retirement possibility in your sights, you might not have time to recover if you do go out on a limb. In general, business owners should always have an exit strategy in mind, not necessarily because the company is in a bad place, but because it may be a smart business decision to hand the reigns over while you still have energy and interest in doing it right (and for enjoying your retirement time afterward).
With a high demand from rising entrepreneurs looking to invest in the automotive business, the selling price of your business may be driven up. When you enlist the services of a business broker, such as LINK Dallas, they can assist with calculating a fair price that’s based on the current market situation, competition, and other miscellaneous business factors. The right price at the right time means a heftier profit for you.
Time for a Change
Another good reason to sell your automotive business in Dallas, Texas, is that it may be time for a change of scenery. Maybe you’ve grown the company to a level you’re satisfied with and it's time to pass the reigns onto a new owner while you seek a different challenge. For many entrepreneurs, the best part of buying and selling businesses is creating success and turning it over to someone else before doing it all over again.
Once you’ve made the decision to sell your automotive business, consider the following when it comes to taking initial steps:
- Sale preparation
- Finding the right potential buyer
When you use the services of a qualified, established business broker, he or she can help you sort out these details. At the LINK Dallas office, we’re here to help. The sale preparation process, in particular, can be quite daunting for business owners, especially when you still have a company to run in the meantime. When the selling process is approached carefully and conducted as thoroughly as possible, business owners can leverage their Dallas automotive repair company for a great Return On Investment. Call us today on (214) 710-2558 and we’ll sort the rest.