Selling a car dealership is a decision that requires careful planning, experienced guidance, and a deep understanding of the market. At Hicks Management & Consulting, we have assisted countless owners follow the process from initial listing to final wire transfer—and we know firsthand how to make the transition smooth, profitable, and stress-free. In case you are stepping away from the business or preparing for a strategic exit, our goal is to support you in moving forward with confidence.
Steps Involved in Selling a Dealership
The process begins with listening. We work closely with each client to understand the unique aspects of their operation and what they hope to achieve from the sale. Once we are aligned on your goals, we create a clear deal strategy and agree on terms, whether it is a percentage of the goodwill value or a flat listing fee.
Our team then launches a targeted outreach campaign to identify the right buyers. We rely on a combination of market connections, outreach, and word-of-mouth to find prospects who are genuinely interested and financially capable. Confidentiality is paramount during this phase. We ensure that no sensitive details are shared without a fully executed nondisclosure agreement, preserving your business’s integrity throughout the sale.
Once a potential buyer expresses interest, we provide a detailed deal package customized to your dealership. This sets the stage for a Letter of Intent (LOI), where we work closely with both parties to structure and refine the key deal points. Our experience assures you receive a fair and competitive offer that meets market standards and your expectations.
How Do We Support You During Due Diligence?
After the LOI is signed, both parties begin working toward the Asset Purchase Agreement (APA). This is a critical step, and we assist in aligning all agreed terms with legal documentation. The due diligence phase begins next and typically lasts 30 to 60 days. During this time, you will need to provide documentation about operations, financials, and other business practices. Our team organizes, facilitates, and supports every step to keep the process efficient.
Another important part of the process is obtaining manufacturer approval. We assist you in preparing and submitting the necessary paperwork while also helping the buyer navigate any licensing requirements. Since timelines can vary based on the manufacturer, we keep both parties informed to maintain trust and momentum.
What Happens During the Final Closing Phase?
Once all approvals are in place, we enter the final stage—closing. We physically assist onsite, helping organize vehicle inventory counts, parts inventory, and any valuation for furniture, fixtures, and equipment. We work closely with both parties to assess the value of pre-owned inventory and coordinate which units remain with the seller or transfer to the buyer.
Once all figures are finalized, we produce a comprehensive closing statement. We then facilitate final wire transfers and ensure every detail is properly finalized. This stage highlights our hands-on approach, ensuring every detail is carefully managed so both parties leave the transaction confident and satisfied.
Ready to Take the First Step Toward Selling?
If you are preparing to sell auto dealership assets, we are ready to assist you in traversing each step with precision and integrity. At Hicks Management & Consulting, we combine industry expertise with a personalized approach that makes selling a car dealership easier and more profitable. Reach out to us today to connect with experienced auto dealership brokers who will put your goals first and guide you through the process with confidence.
