Reader's Choice 2014 - BodyShop Business

Reader’s Choice 2014

Three lucky readers get their questions answered and win $50!

Three lucky readers get their questions answered and win $50! Click the links below to find out more about specific topics.

Blind Spot Monitoring

Rust Repair

Paint & Materials

To submit a question to be answered by an expert in next year’s Reader’s Choice issue, fill out this form.

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Exit Strategies: Personal Vision & Financial Planning

The most critical first step in an exit or transition plan is to develop a financial plan and personal vision of what your life will look like post-business.

Jerry was a 63-year-old auto body shop owner who contacted me regarding putting together an exit strategy. Like most shop owners, he had become tired of the day-to-day grind of dealing with the back-and-forth fights with the insurance carriers, yet he still loved the idea of being a part of a business he built from the ground up. Ideally, he would have liked his production manager, Evan, to become his heir apparent, yet he had no idea if Evan was interested in owning the shop or if he was even capable of doing so. His shop was a prime candidate for a consolidator, and he had received an offer from one, yet he cared about his employees and wanted to make sure they were taken care of. Also, he was unsure what he would do with himself if he did not have a place to go. He did not know where to turn.

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