The Vaughn Law Group recognizes the emotion involved for a dealer owner selling their business. It is for this reason that the dealer principal needs to be psychologically ready to sell. We have seen all too often dealer owners deciding to sell their business but without fully coming to grips with the notion that they are about to sell an enterprise that has been a part of their lives for many years. This can cause problems at various stages of the sale process.
Once it has been determined that the dealer principal has selected the exit strategy to sell the business, The Vaughn Law Group will review with the owner the selling process, a realistic time frame, as well as the amount of time and resources the owner will need to commit to the sales process. This approach ensures that our clients are fully aware of the sales process and enables the The Vaughn Law Group to deliver on each client’s expectations throughout the consulting process.
Succession Planning (Family)
There is no question that family owned dealerships are complex and can be filled with emotional challenges when considering family succession planning. Some business experts estimate that nearly two-thirds of family owned businesses fail in transition to the next generation. The Vaughn Law Group has experience and insight on this very subject. Attorney Vaughn (a non-family member) was the CEO of a family owned office furniture dealership for almost ten years with multiple family generation involvement. The Vaughn Law Group will develop a comprehensive succession strategy along with a specific timetable to assist family ownership to successfully transition to the next generation, ensuring they will be prepared and qualified for their role in the business.