You get things done. You make things happen. You figure it out and solve problems every day and you’ve been amazing people for years. You diagnose problems, fix transmissions, and much more. You’ve successfully operated a small business. You’ve helped many, many customers. You’ve managed employees, paid bills and taxes, and most of the time had money left over. Properly preparing and se...

The next step in preparing for a smart exit from your business, by determining and helping enhance your shop’s value.

We all know that it’s the shop owner’s job to keep customers and staff happy, the tools working, and the shop organized. A well-managed, clean shop is fun to operate and ready to go if you get an offer you can’t refuse. This series outlines steps to make your shop “presentable.” Get it ready, and then keep it gleaming. The articles are written from a current ownership perspective. The...

All business owners want to know, “What’s my business worth?” But different buyers will put different values on your shop: Family Employee Ambitious Rebuilder Competitor Investor Strategic Buyer It’s because they want different things. Family, an employee, or a non-employee rebuilder all want to operate and build your business over time. Owning and being involved in ...

When trying to sell their businesses, one of the first questions all business owners ask is, “What’s my business worth?” Knowing your business’s street value is important. Not what you think it’s worth, but an objective dollar amount based upon sound valuation principles. The value of a business is more dynamic than that of a house or car. Significant components for establishing your ...

Benjamin Franklin once famously pointed out that nothing in life is certain, except death and taxes. But for shop owners, there may be another certainty to consider: the day when you decide it’s time to move on… to take the next step in your life. For some, moving on will be an emotional decision: You’ve had enough of this business and need to do something else. Or maybe it’ll be about ...