I have an off industry Overall body Shop that doesn’t want to checklist, but would sell of he got his inquiring selling price. Have a problem about getting in contact with other System Stores in the location. – Score: 3

9 thoughts on “I have an off industry Overall body Shop that doesn’t want to checklist, but would sell of he got his inquiring selling price. Have a problem about getting in contact with other System Stores in the location. – Score: 3”

  1. Just make sure you have his written permission to talk to other body shops.

    In that communication ensure that you are covered for this, you will likely find that the other body shop owners know this vendor and may quickly look to cut you out.

    You need protection to get paid.

    Also, does it have any environmental issues?

  2. You could say, I have a body shop in the “X” submarket, and if they are interested, have them sign a CA. The CA will likely have the property address, so they could see the document, not sign it, and know what the address is.

    At the end of the day, no one is going to make a purchase decision without knowing the address. You can further qualify them by asking if they are looking to expand, and tell them you have a number of options. If they are interested, you can share them this option and at least know there is some desire for them to acquire a new location.

    At the end of the day, it’s often times a trap when an owner says I’ll sell for X price, but if I do not get it then I am good. If they are committed, then have them sign a listing agreement and start quietly marketing the property using the methods described above.

    Edit: You can also tell the qualified prospects exactly what the owner told you. Tell them his business is doing fine, he’s just tired and would sell for the right price. This would not give them the impression he is struggling. Be wary that the buyers won’t go around you if you do not have a commission agreement in place.

  3. I would suggest not working on this without an exclusive listing agreement. You won’t control the deal and there’s no commitment from the seller. Also the highest bidder will be owner user SBA borrower. You need to market it far and wide. Also phase 1 over 6 months old is useless to lenders.

  4. If he isn’t willing to sign a fee/listing agreement to allow you to market the property confidentially then you could waste a lot of your time. Business sales are almost always confidential and people sign CA’s all the time and share information. Just have to train your client that it’s a normal way to market business sales. Just go on bizbuysell and show him that all the listings are generally confidential.

  5. Oh!! See if he wants to do a leaseback, sounds like he’s open to getting some cash today and signing a lease. Great way to start unwinding assets while staying in business.

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