Some Dealers are interested in privately testing the “sale” waters to determine what is in their best interest but do not want it disclosed. The best way to navigate the waters is to talk to trusted advisors. They know you, know your business, and they have earned your trust, so anything you say or are considering would remain confidential. Critical to expert insight is their knowledge of the car business and the nuances specific to the size of your estate. If you are the most significant client or one of the few car dealers your advisors serve, actively research to add car industry experts to your team.
As you navigate the decision, remember your advisors are your most trusted resource. Be honest with them about your intentions and what you are trying to achieve, as this will also help ensure you receive the best advice and recommendations.
In this episode, Pete Theil with Haig Partners and The Rawls Group’s succession planner Champ Rawls discuss different approaches to privately evaluating your options.