Archive for February 9th, 2009

Do You Want To Sell Your Dealership?

February 9, 2009

Groups Plan To Purchase Up To 40 Dealerships in 2009

If you’re considering the sale of your dealership, your chances of success might be improving. It looks like there is new money coming into the market with an eye to rolling up dealerships into operating groups

Long-time industry pro, Bill Shenk, is the point man for three groups, and his PowerHouse Dealer Services company has been retained to find and evaluate acquisition opportunities for these buyers.

The three buyers plan to purchase collectively up to 30 metric motorcycle

Bill Shenk

Bill Shenk

dealers and 10 Harley-Davidson dealerships in 2009 with more acquisitions planned for 2010, Shenk told me. The three groups did over $100 million in retail powersports business in 2008, he said.

Shenk wouldn’t tell me the names of the three groups or the money behind the groups. He did tell me that all three groups “are very liquid,” already have “successful OEM/powersports relations and operations,” so they can purchase and close on deals quickly.

The buyers, Shenk said, are prepared to acquire the dealership businesses and their real estate, providing a nice opportunity for owners to cash out of the business completely.

It’s easy for interested dealers to participate, Shenk says. “There are no listing frees, marketing fees, selling fees or other requirements or constraints placed on potential sellers,” he told me, “other than the standard confidentiality and non-disclosure agreements at the time of discussions.”

While the buyers will look at individual dealerships and groups, Shenk said they are limiting their purchases to businesses that have at least one of these franchises: Harley-Davidson, Honda, Yamaha, Kawasaki, and Suzuki. Dealerships can carry other franchises, but they most have one of these five major lines to be considered, Shenk emphasized. (more…)

Pitch in for Jeremy Lusk

February 9, 2009

Most people have already heard or read about FMXer Jeremy Lusk’s horrific accident at the X-Nights contest in Costa Rica over the weekend. Lusk under-rotated while performing a backflip and slammed into the ground head first.

Pic from the Metal Mulisha Web site.

Pic from the Metal Mulisha Web site.

Now through the quick work of the Internet, a couple of Web sites have been set up to give regular updates on Lusk’s condition and to take donations for an emergency fund set up for Lusk.

The latter has been established through the Athlete Recovery Fund. Anybody interested in making a donation to the fund can go to THIS LINK HERE and click on the “make a donation” button. Starting today all donations made through the Web site will go directly to Lusk’s care.

From a release about the site:

Financial arrangements are being put into place to pay for the Medi-Vac international air transportation that Jeremy will need once he is stable and can be transferred to a leading United States-based Head Trauma Center.

A close family friend has also set up a blog which has regular updates on Lusk’s condition. Go to the Pray for Jeremy Lusk blog.

Read more about the incident over at the Metal Mulisha Web site. Click HERE.

And of course, a video of the horrifying crash is already up at YouTube. Warning: it’s a pretty disturbing thing to watch.