A new two-day workshop will be offered to automotive industry professionals in March, thanks to a partnership between Wye Management, Dealer Solutions Mergers & Acquisitions (DSMA), and DRIVE Investment Partners.
The workshop aims to help managers (general, general sales, fixed ops, and OEM managers) with how to find and secure the necessary financing to purchase part of, or all of a dealership, or become an equity partner of a retail new vehicle franchise. This includes providing attendees with knowledge, support, professional services, an action plan and financing sources to help make the transition, according to a Wye Management news release.
The workshop also includes a networking opportunity with subject-matter experts and like-minded professionals. It will also touch on topics such as how a dealership is valued, what is goodwill and normalized earnings and how are they calculated, how a dealership is purchased (asset versus share purchases or minority buy-in), and how deals are structured and the pitfalls to avoid.
Participants will meet Chris Schulthies, President of Wye Management, which focuses on training for dealer groups, industry partners and more; Bernie Clement, former Senior Vice-President of Daimler-Chrysler and retired President and CEO of Pembcorp Automotive Group; and Farid Ahmad, President and CEO of Dealer Solutions, and Managing Partner in DRIVE Investment Partners — a private equity.
The two-day workshop begins in March 2021, and will include 15 workshops offered from coast-to-coast. All the disciplines will be in one room, in one workshop. For more information, view the video overview and/or the workshop outline.
To register, dealers can visit: wyemanagement.com/how-to-buy-a-dealership
