- April 11, 2019 at 3:22 pm#87926Randy LucykParticipant
This has been a growing topic over the last couple years. Many of us long time owners are looking for ways to transition our stores to new blood, new energy. I suspect many of us believed that we might have an opportunity at the end of our careers, to cash in on our efforts through a business sale, and live happily ever after. It does happen for some, but I suspect that is a severe minority. I believe the most common form of transition for automotive service facilities, is liquidation. Personally, I prefer some more positive option than that.
We began working on a transition plan a couple years ago with existing staff. Had no idea what I was doing, other than I am pretty good at research. I came across Bob Ward from Perpetual Business, who specializes in assisting business to transition to new owners, with an emphasis on automotive service facilities. It has been a very rewarding and “relieving” relationship. We now have a successor candidate for our business and are working towards putting an agreement in place for that transition to occur over the next few years.
I have attended this class twice with different members of my staff and my wife. I will be sending two to the class in Grand Rapids.
If you are in a similar situation to mine, or if you are a young shop owner look to make the best of your business, this class can offer you substantial value. Had I started my career with the end in mind, I suspect I would be much further ahead today.
This recommendation is not based on anything, other then my respect for Bob and what he is trying to do.
His website here: https://www.wardden.com/#/home
Class description attached. I would be happy to answer any questions I can. Call the shop and ask for Randy.
Midas, Kalkaska Mi.
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