You Bought a Dealership, Now What?

Location: Webinar

Date: On-demand

Time: 1 hour

Presenter: Thomas J. Reck, CPA/ABV,CFF at Withum, an NHADA Gold Partner

Tuition: $49 for members, $69 for non members

(all funds benefit the New Hampshire Automotive Education Foundation)

Overview: During the acquisition of a dealership, the purchaser receives guidance and support from various professional sources, including but not limited to legal counsel and accounting advice.  However, once the deal is finalized, that solid support system disappears, and the purchaser is left on their own, facing numerous uncertainties and unanswered questions. The focus of this session will be to identify issues that dealers often face after they purchase a dealership and how to address them to ensure a smooth transition and to set them up for success.

Topics include:

Historical Results Assessment
How to critically assess the dealership’s historical results to determine whether improvements can be made and what these improvements will mean to the bottom line.
Legal Overview
Overview of proper diligence and tips in the event that problems arise.
Purchase Price Allocation
A discussion on purchase price allocation and what that means to the dealership’s bottom line moving forward.
Diligence Review
A review of the diligence process leading up to the consummation of the deal.
Staffing Tips
How to assess and retain quality employees
How to ease culture shock and create loyalty
Post-closing Checklist
Ensure you got what you paid for and actionable steps to take to rectify common pitfalls.
“No Hard Feelings” Checklist
Certain changes are imperative but are often forgotten or put off. Learn to identify which items need to be addressed as well as when and how to address them after the closing.
Change locks, passcodes, lines of credit, etc.

About the Presenter:

Mr. Reck is a partner at Withum, has over 20 years of experience in public accounting, and is accredited in business valuation by the American Institute of Certified Public Accountants (AICPA). He is also certified in financial forensics and specializes in forensic accounting, business valuations, cash flow, and lifestyle analysis, as well as white-collar criminal matters.  Mr. Reck is a member of the firm’s Litigation, Valuation, and Insolvency Group.  His experience covers a vast range of industries, including automotive dealerships, retail, legal services, real estate management, and not-for-profit organizations. He is also experienced in matrimonial, stockholder disputes, and estate and gift matters.  

Thomas J. Reck, CPA/ABV,CFF

Register online, call 603-224-2369 or email Kaleena Guzman with any questions!