Because of my unique perspective as someone who grew up in the collision industry and also has an MBA with a specialization in finance, I often hear comments and assumptions made that make me cringe. At best, these comments can cause real harm if left unaddressed, and at worst can be used by savvy buyers to mislead a seller.
There are many important factors to consider when negotiating a business purchase or sale in addition to price. These are four of the more common ones we see when helping clients manage transactions in the collision repair industry.
Consolidation in the collision industry continues to march forward at an astounding pace. The largest companies in the industry continue to aggressively grow through acquisitions, or by buying existing collision repair operators.
Relying on the MacGyver bucket is telltale of a repair process that wasn't planned out correctly from the start. And because of that, your tech is now scrambling to meet the pressure of on-time delivery.
Financing equipment or facility upgrades is commonplace in many industries. While many of us were raised with the notion that debt is bad, the reality is that debt is simply one tool of business finance when prudently used. A core tenant of corporate finance is that the liabilities of the firm ought to match the assets of the firm.
Our Collision Repair newsletter from ABRN provides up-to-date news, innovative products, technical discussions and shop management features designed to enhance your business. Published every Tuesday and Friday