Entrepreneurs who want to get involved in the automotive industry and purchase automotive business facilities will have many decisions to make, such as their desired location, whether to purchase a privately owned company or a franchise and how much capital to initially invest. It is also important to make sure the company you purchase is not too near a major competitor. The proximity might result in a lack of business for you.

For people who wish to sell, automotive business establishments may be listed online. Post your company on a website that allows you to showcase the advantages of the business opportunity you have available.

Automotive business sales require a lot of time, money and effort. You should be certain the business opportunity you are interested in is right for you. There are several things to consider prior to investing in the industry, including:

1. The expenses you will face, such as purchasing fees, marketing expenses, royalties and inventory;

2. The need to hire and train employees;

3. Whether the franchise has a well-known and respected name or brand;

4. If the automotive business for sale is ready to open.

Action Steps
The best contacts and resources to help you get it done

Buy automotive business franchises

Purchasing an automotive-based franchise provides several benefits over starting up a new business. An established company comes with a well-known name and brand, a business plan that has been tried out and shown to be effective and ongoing support from the franchisor. The company that created the franchise has already done all the initial work to get the company running and prosperous, so you will be able to take advantage of their efforts.

I recommend: Run your own auto body repair and paint shop from Maaco Enterprises. Start up a Cactus Car Wash service. Rent out vehicles with a Rent-A-Wreck franchise. Operate an ARCO and ampm service station.

Purchase an automotive business for sale that is independently owned

People who are interested in buying and operating their own automotive company can find a privately owned business that is up for sale within any state in the nation. Browse through the listings to find the opportunity that best matches your needs, abilities and interests.

I recommend: Purchase a used car lot at Business Nation or a motorcycle dealership from GlobalBX.

Retain the services of an automotive business broker

Business brokers lead entrepreneurs through the process of purchasing an existing business or franchise. They will work for you to ensure that you receive the best deal possible and finalize the purchase in a timely manner. Turn to them for guidance, financial consulting and business valuation services. They will also assist you with due diligence procedures and every other essential detail that must be handled during the process of taking over an existing business.

I recommend: Receive help from a professional at McDowell Business Associates or Bridge Brokers.

List your automotive business for sale online

People who own an automotive business may decide it is time to sell the company for either personal or business-related reasons. Whether you hope to sell so that you may retire, move or start a new vocation, when you can list all the details about the business you have for sale online. There are websites that will act as an automotive business brokerage and help to connect you with a buyer.

I recommend: Sell your company with help from BizBen or BizBuySell.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Talk to the people at the Better Business Bureau and request important information and data about the automotive business opportunity that you are interested in before you make a purchase.
• •  Investigate whether automotive franchises are regulated by your state government, and if so, in what ways.
• •  Obtain the services of a certified public accountant who will research the financial history of any automotive-related business you are interested in buying, explain the expenses that will be involved in the transaction and help you understand your immediate and long term earning potential.