Expert Insights: Key considerations for dealers thinking about selling their dealership

Peter Heasty learned decades ago that a five-page letter of intent in an auto dealership transaction is the first leg of the race, not the whole distance. Getting to the finish line on a deal, the longtime buy/sell advisor and recently named president of Baker Tilly WM Dealer Acquisitions Inc. said, takes an intimate understanding of the industry, a firm grasp of the numbers, and a calming presence to keep emotions and personalities in check. For many dealers, Heasty added, the transaction represents their life’s work.