The Dealer Playbook
The Dealer Playbook

Episode · 5 months ago

When To Sell Your Dealership w/ Chris Martinez


As you can imagine, being able to scale your business efficiently has more to do with one's mindset than anything else. A healthy and positive mindset will impact the action that follows. 

But maybe it's time to sell your dealership, ring the bell, and check out. In this segment, Chris Martinez shares his advice for those wondering if now is the time or not. 

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Website: mm. You mentioned this individuals nowmaking more money than he's ever made and talk about quite a miraculousturnaround from what was a bowel clenching year of like what's going tohappen? Everything shuts down lockdowns, the whole world deals with the pandemicnow none of us can watch a good pandemic movie because we realize thatno, we don't turn into zombies. We actually just have to stay at home andwatch netflix. We have to stay at home and talk about the inception of apandemic is sitting at home during a pandemic watching netflix movies aboutpandemics. Uh but the point being is people are breaking records likeshattering records. We're coming fresh out of a pandemic where nobody knewwhat was gonna happen and you're saying...

...we sold 690 and essentially we aregoing to 700 and then 800 and then whatever. There's the flip side of the industryand I know you've heard it on clubhouse. I've, I've heard it on clubhouse.There's a lot of pontificating going on around the impending doom of the carbusiness. The way we know it, there's those saying we're getting nice and fatright now. But wait because there's a storm comingand I have to admit, I do tend to say, hey be prepared. I don't know if it'sthe boy scout in me but with all of us. But but what whatare your thoughts like what do you see from your vantage point? The next 35. Idon't know 10 years what what what is the industry gonna look like duringthat time frame. You know I had this conversation went to N. C. F. Trainingjust recently. Um I have my last class... for executive training uh next weekor the following week. Um and I basically just told them, look the nextfive years you're going to continue to see a lot of consolidation. Uh you seelithia buying up dealers and ships left and right. You see autonation, you seeall of these stores that are buying consolidated, they're buying a lot ofstores. Um And so you'll see these groups, you'll continue to see them getbigger because they were just buying out all the smaller stores. Um but Ithink of any good operator, you know whether it's a down market or notmarket the best always do good and and you know, they say success is a lousyteacher and that's why I don't care how many cars I sell or whatever, howeversuccessful we get, it's never good enough to me because I always look atall of the inefficiencies where I can that I could have done a little bitbetter and I never let anybody forget...

...where we could be as much as great asit is. You know, we still celebrate the wind something wrong. But I still makesure that I keep everybody grounded in knowing that there's still opportunityas great as we are. There's there's always a way as long as we don't getromantic about winning every day will continue to say you've got the Chicagobulls, you've got that Chicago bulls, just one, our fifth championship. Wedon't know we're gonna win the sixth one yet but we are but you celebratefor like five minutes and then you're back, you're back to work. Exactly. UmNow here's the controversial question of the day, that single point store, who's wondering about the future? What would you say? The indicator forthem ought to be... whether they should sell to theLithia or really make a go of this and see what can be done well for thoseones here either in a position or you think big and you want to get big likeplan lundy, right? The rural store that you went up to 2000 if you're in that my instead then justkeep going. Right. But if you're not, this is probably the most money you'veever made as a dealer because markets have been the biggest they've ever beenthen you're going to get the biggest multiple you've ever had. And this isprobably an opportunity for you to just you know hang up your had now if youwant to grow and do more then there's that opportunity, I mean there'sdealers that I know that are in those smaller markets that are pulling doinga great job pulling from those bigger markets and they're super successful.The challenge of those ones. You might...

...pull a lot of people in but you're notretaining those U. I. O. For your service department. Um And that'sreally where most dealers are. Don't really focus as much as they should asin the service department and or growing the service department. Yeah. Mm mm. Yeah I'm Michel Cirillo. And you'vebeen listening to the dealer playbook podcast. If you haven't yet pleaseclick the subscribe button wherever you're listening right now leave arating or review and share it with a colleague. Thanks for listening mm. Mhm. Yeah mm.

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