The time for straight talk about selling is long overdue for many owners. No matter how much people want to avoid the specifics of leaving the business, selling their shops and maximizing the value of their business and real estate, continuing to put off that discussion isn’t being fair to your family, your employees and yourself.
The collision repair industry continues to consolidate at an accelerating rate. The costs of staying in the game are going up dramatically. Access to repairable vehicles is getting harder and harder.
After all the hard work and dedication and great customer service, it’s more than disappointing to realize how the game has changed, and how difficult it is to stay in the game. And some folks are frankly getting tired. After 25, 30, 40 years in the business, many owners are looking for an exit.
The good news is there has never been a better time to look for a new owner for your business. In 10 years, some of today’s largest most innovative independent MSOs will be $500 million companies but most MSOs and independents will be part of much larger enterprises.
Independent, stand-alone, “family owned” body shops will still survive but there will be thousands that have been sold or simply closed up shop.
Where are you? Are you growing and investing to be one of the successful survivors? Or are you growing more and more tired of the race, tired of having your best techs leave for bonuses elsewhere, tired of fighting to get insurance companies to cover pre- and post-scans, tired of the whole thing?
One of our great clients put it best a few months ago: “I’m glad I was the first in my market to sell. Getting out before I was ready was a great decision. Choosing Focus Advisors was the second great decision.”
David Roberts, the Managing Director of Focus Advisors has been advising, buying and selling MSOs since 1997. In the past 24 months, Focus has led more than $200 million in 14 separate MSO and single shop sales. If you want to hear some frank advice about the industry, consolidation and how it may impact you, contact David Roberts at 510 444 1173 or firstname.lastname@example.org. We will set up a mutually convenient time to chat.