New Book Advises RV Dealers on Selling their Business

A recently published book by Marco Martinez, “What Does it Take to Sell my RV Dealership”, seeks to offer advice and empower RV dealers considering selling their RV dealership.

Martinez is president of Best Friends Consulting Inc., a company he started in 2000. Prior to starting his consulting service he worked for a corporation buying dealerships and realized in many cases the dealers were being taken advantage of because they didn’t know what they were getting into. He left that company and the dealers he was working with reached out to him and, after a half dozen of those calls, he decided to make helping them his new career.

According to Martinez, sometimes they get caught up in what they think is a great offer, “But once they sign, the dealer has no idea the amount of work involved in selling and all the paperwork and if issues pop up that $5 million offer now may be only $2 million — especially after taxes and broker fees, etc.”

“By the time they’re deep into it there’s a lot of remorse,” he said.

So one of the things the book does is propose questions to help the dealer examine fully whether they want to sell their dealership. It cautions that once the word gets out they’re thinking of selling to expect concern from employees, bankers and suppliers. Two other things the book advises them to consider — realizing their cash flow is going to be gone and what will they do after they sell.

Dealers also need to consider that just like when putting a home on the market, you’ll need to show your dealership in the best light. The facility will need sprucing up with paint and all inventory and parts should be in good repair.

“You must be ready to do a ton of ‘preparational’ paperwork,” Martinez said, making sure the financials for the prior three years are presented professionally to maximize the value.

Other chapters include how to find a buyer and how much is my business sale going to bring me, which explains several ways to determine the value of the business. There are also chapters on the eight phases of the sale process from prospecting/marketing all the way through post closing.

The book contains examples of forms used during the sale process like non-disclosure agreements, letters of intent, due diligence checklists and more.

“They can be tweaked to meet the needs of the dealer,” Martinez said.

Martinez published his first book, How to Run a RV Dealership: 22 Best Kept Secrets to Help You, in 2013.  Posting articles on his website brought increased clientele including motorcycle, auto and boat dealers as well as RV dealers.

Martinez has experience in many aspects of the RV business and said he can appreciate what dealers go through as he operated a chain of dealerships in 2003 and sold them in 2006.

“I’ve been there—I have that experience,” he said.

Martinez said some warned him if he shares too much his services won’t be needed. “I’ve found the more I share the more they appreciate me,” he said.

“I enjoy teaching, training and educating,” Martinez said. “There are plenty of people who need help.”

The book can be purchased on Amazon in either Kindle or paperback. To learn more about Best Friend Consulting, Inc. visit the website at www.bestfriendconsulting.com or email [email protected] or call 352-840-3717.

Source: https://rvbusiness.com/new-book-advises-rv-dealers-on-selling-their-business/