After eight decades, Bell Motors, a family-owned auto dealership successfully transitioned their business to a long time employee. The current owner had a desire to reduce his role and transition responsibility of the daily operations but lacked a thorough succession plan. During this same timeframe, Ford had offered a sum of money to assist in building a new rebranded store, which would involve 100% ownership for the incoming owner.
The Baker Tilly dealership team worked with the current and incoming owners to ensure a mutually beneficial transition of the business while still allowing them to take advantage of the Ford rebranding incentive, including:
Utilizing our dealership and succession planning expertise throughout the entire transition process, we were able to provide our client with a mutually beneficial and successful transition plan. Due to the successful transition, our client was able to take advantage of the Ford rebranding incentive and build a larger facility allowing them to grow their business. We continue to assist the client with operational elements including conducting a cost segregation study.
We worked with Baker Tilly to successfully transition the ownership of our auto dealership. The dealership team helped us to properly plan for cash flow needs surrounding expanded operations, tax planning, and debt service.Nolan Campbell, Owner
For more information on this topic, or to learn how Baker Tilly dealership specialists can help, contact our team.
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