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Lots and Lots of questions in my mind. Some already brought up. I suggest you spend some time on this website: https://art-blumenthal.com/
I would at least call Art and introduce yourself. I suspect he would give you a few minutes of his time, even though it is not his deal.
Learn a lot more about cash flow “normalization” and/or discretionary cash flow. Art could help you a lot with evaluating the financials. He likely has a consulting rate and it would be worth it.
I want to know more about the existing staff. Are they compensated appropriately? Do they have a benefit package that will keep them around? Are they “bought in” to the location?(close to home, convenient, spouse likes them working there, they like the hours of operation, ect).
I have not done what you are thinking about, but i have worked with three individuals doing exactly what you proposing. In each case, the best i could do is to help them get out of what they bought into. They were already in trouble when they came to me. They all returned to their corporate lives.
Yours is a very common scenario in the automotive franchise world. Sometimes it works out real well. Your IT background will serve you well. You will count on having an effective staff more then you can imagine. Your leadership skills will be crucial to your success.
