Our Process
Our proven processes, systems, and strategies consistently deliver a success rate that’s nine times higher than the national average.
The Business Sales Success System™
Selling an auto repair business is often one of the most impactful financial decisions a business owner will make. A successful sale requires not only deep industry expertise but also a strong understanding of the sales process and access to a network of serious buyers. What sets us apart from other brokers is our team-based approach. Instead of relying on a single broker, we work as a well-coordinated team, with each member bringing specialized skills to the table. This collaborative model ensures that every part of the sale is managed by an expert in that specific area.
At the heart of our approach is our proprietary “Business Sales Success System™,” created by Jim. This system goes beyond merely selling your business – it’s designed to help you unlock the next chapter of your life with the financial security you deserve.
Jim’s deep commitment to the auto repair industry offers an added advantage. He has built a large database of potential buyers specifically looking for businesses like yours. These buyers include qualified entrepreneurs and existing auto repair business owners looking to grow. This targeted network allows us to sell your business more quickly and at the best possible price.
Here is an overview of how we move through the sales process:
- Step 1: Introductory Call & Assessment Call
If we both feel we’re a good fit, we’ll move forward to the Assessment Call, where we’ll dive deeper into the specifics of your business. At this stage, Jim will evaluate whether our services are the best match for your needs, or if another broker or timeline might provide better results.
Jim’s forward-thinking approach is a key element of his process, enabling him to anticipate and address potential challenges before they arise. This proactive strategy has led to an outstanding success rate, with 90% of Jim’s listings being sold and very few deals falling through. In contrast, national statistics show that only 10-20% of businesses listed for sale actually sell, and 50% of deals under contract often collapse.
The insights gathered during the Assessment Call also inform the Broker’s Opinion of Value (BOV) analysis, positioning us for the next phase of our journey together.
- Step 2: Broker’s Opinion of Value
Together, Jim and Simon will work through the Broker’s Opinion of Value (BOV) process, which will provide a realistic selling price and recommended terms for the market. To ensure the BOV is thorough and precise, we’ll request some financial information from you. Rest assured, this data will be collected via a secure, bank-level file-sharing system to maintain confidentiality.
Once we’ve received your financial details, we will make “add-backs” or adjustments for things like depreciation and discretionary expenses, which will give a clearer picture of the business’s potential earnings for a new owner.
Next, we will compare your business to other similar auto-related industry businesses that have sold, using comparable gross sales data to establish the MPSP. To further validate the valuation, Jim and Simon will pre-screen your business with qualified lenders to ensure they agree with the proposed price and terms before presenting them to potential buyers.
Once the process is complete, you will receive a comprehensive BOV report, and Jim will walk you through how the MPSP was determined. He will also explain his proven “Wave Theory” and how it could positively impact the sale of your business.
The BOV is offered to you free of charge, with no obligation to continue. Should you choose to move forward, you and Jim will sign an exclusive-right-to-sell listing agreement, with no upfront fees. We only get paid once your business is successfully sold….when you get paid.
- Step 3: Signing the Listing Agreement
First, Jim’s proven strategies and aggressive marketing efforts consistently result in securing a buyer within six months. In the rare event that a business doesn’t sell during this time, it’s usually due to factors beyond his control, such as an unforeseen decline in business performance or undisclosed issues that surface during the sale process. Additionally, Jim values fairness – he believes that if he hasn’t secured a contract within six months, you shouldn’t be obligated to continue with his services, although you’re welcome to if you choose.
- Step 4: Pre-Market Preparation
The process starts with a Discovery Call, a comprehensive two-hour conversation where Jim and Simon will dive deep into your business’s key components. This in-depth interview equips us to answer at least 95% of buyer inquiries and present the exciting opportunities your business offers in the best light.
Following the Discovery Call, our entire team gets to work crafting a custom Confidential Information Memorandum (CIM) that will showcase your business to potential buyers:
- Our professional writer, with extensive experience in business and finance, will develop a compelling narrative about your company, drawing attention to its most attractive features and opportunities.
- Margarita, our exceptionally talented graphic designer, who previously worked at the Walt Disney Company, will design the CIM to be visually striking. Her expertise will ensure your business stands out from the competition in a crowded marketplace.
- Jim’s listing manager will oversee the gathering of all necessary additional information—such as equipment lists, photographs, and any awards or recognitions your company has earned—ensuring that every detail is included in the CIM for a comprehensive presentation.
Jim and Simon work closely to fine-tune the marketing strategy and messaging, aiming for maximum impact. This collaborative effort is designed to secure a successful sale at the best possible price and terms—all while maintaining our no upfront fee policy!
- Step 5: Marketing & Advertising Your Business
We leverage an extensive database of individual buyers and private equity groups, ensuring that your business reaches the right audience. Additionally, we have excellent relationships with other business brokers nationwide. We believe in collaboration, not competition, and work with them to bring qualified buyers to the table. Our aim is to attract not just one, but multiple interested buyers, creating competition that helps to drive up the sale price and secure the best possible terms for your business.
- Step 6: Pre-Screening of Buyers
Our screening process is comprehensive, covering several critical areas. First, we verify that potential buyers have the financial capability to purchase the business and that their funds are readily available. It’s also important that their experience and background align with the operations of your business, ensuring a smooth transition and continued success for your employees, clients, and vendors. Additionally, we assess the buyer’s motivations for acquiring the business and confirm their identities.
Only those who pass these stringent checks will receive the custom-written and designed Confidential Information Memorandum (CIM) for your business. We also handle any follow-up questions buyers may have, ensuring they are a good match.
Throughout the entire process, you’ll only interact with thoroughly vetted and qualified buyers, allowing you to stay focused on running your business and maintaining its success.
- Step 7: Buyer-Seller Calls/Meetings
If both parties are interested in moving forward after this call, we can arrange an in-person meeting, which may include a tour of your facility during non-business hours.
These calls and meetings are important steps that often precede offers. We will guide you on how to approach these discussions to ensure the best outcome for both sides. It’s essential to openly discuss not just the strengths of your business but also any weaknesses, whether physical or financial. This transparent approach is not only ethical, but it can help prevent issues that could arise later and threaten the deal.
It’s important to remember that these calls and meetings are not the time to negotiate. In fact, direct negotiations between you and the buyer should be avoided, as they can sometimes lead to misunderstandings or tension between the parties.
- Step 8: Contract Negotiation
Finalizing the deal is about more than just agreeing on a sale price; it also involves negotiating key terms such as the payment schedule, the training and transition period, non-compete clauses, and other important conditions.
Jim personally handles the negotiation of both price and terms with the prospective buyer. With his deep understanding of the auto-related business market, he is able to clearly convey the value of your business during negotiations. He highlights not only the tangible assets but also the goodwill, relationships, and reputation you’ve established, all while working to create an agreement that leaves both sides satisfied.
This stage can be emotionally challenging for business owners, which is why Jim takes charge of the negotiations, reducing your stress and allowing you to stay focused on running your business until the final handover. By entrusting Jim with this process, you can ensure a smoother and more successful outcome during this pivotal phase.
- Step 9: Closing on the Business
Stephanie will act as the central point of contact, coordinating with lenders, CPAs, attorneys, and other key parties. She will ensure that all sales documents are finalized correctly, working closely with legal teams to guarantee the accuracy of the sales agreement. She’ll also serve as the communication bridge between all involved, helping to streamline the transition.
Throughout this process, Jim will maintain close oversight, regularly consulting with Stephanie. With his extensive experience and ability to anticipate potential challenges, Jim is always ready to step in and address any unforeseen issues that may arise.
What sets Jim and Stephanie apart is their commitment to open communication between you and the buyer. While some brokers prefer to keep the buyer and seller separated during closing, Jim and Stephanie encourage transparency. They organize regular conference calls with all parties involved—Jim, Stephanie, you as the seller, and the buyer—to keep everyone on the same page.
This collaborative approach promotes a smooth flow of information and ensures that all parties are comfortable and informed throughout the process. The ultimate goal is to achieve a seamless closing, ensuring a successful transfer of ownership and allowing the buyer to continue the strong legacy of your business.
- Step 10: Post Closing
Additionally, several administrative tasks must be addressed post-closing, such as transferring or canceling business licenses, permits, insurance policies, and client or vendor agreements.
In some cases, the new owner may request that you stay involved with the business for an extended period beyond the initial training, offering compensation for your continued engagement. Alternatively, they might ask you to serve as a consultant, providing your expertise as needed after the training period ends.
There are also financial and tax considerations that need attention post-closing. Jim and his team can connect you with specialist CPAs and tax attorneys to help manage any post-sale tax liabilities, providing strategies to reduce your tax burden and ensure compliance. If you’re interested in this service, it’s a good idea to discuss it during the listing process.
The sale of your business doesn’t have to mark the end of your relationship with Jim and his team. They will remain available to support you with advice and assistance as long as you need, addressing any concerns or challenges that arise after the sale. Jim takes pride in the relationships he builds with his clients and often stays in touch with past sellers long after the deal is done.
As you enter this next chapter—whether it’s retirement, starting a new venture, or pursuing personal passions—you can fully enjoy the rewards of your hard work. Selling your business is a major achievement, and it’s your time to savor the success you’ve earned.