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  #21  
Old 10-23-2013, 09:12 AM
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I bet anything It's not MAG, they're too big and the Ferrari dealer is a major part of their business. Also like what was already said Cauley is not for sale, I talked to a guy at Suburban Collection and apparently they've been trying to buy them for a few years. My money is on Continental.
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  #22  
Old 10-23-2013, 09:13 AM
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sounds like an acquisition with a ton of booked goodwill..........
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  #23  
Old 10-23-2013, 09:32 AM
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I would suspect there's more than one for sale. My understanding is that there is one for sale in the Western US also.
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  #24  
Old 10-23-2013, 09:36 AM
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This is the 'grown ups' version of owning a surf shop
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  #25  
Old 10-23-2013, 09:45 AM
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Originally Posted by Tim1137 View Post
nope, 1%.... Not everyone is good at math you know ;-) Im simply preying on the weak minded lol

by the way, $3,000 would be 0.0001% of 30MIL lol...
No, it wouldn't. It is 0.01%.
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  #26  
Old 10-23-2013, 09:49 AM
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maybe it is Foreign Cars Italia in NC?
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  #27  
Old 10-23-2013, 10:34 AM
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Originally Posted by paulie_b View Post
maybe it is Foreign Cars Italia in NC?
North Central US right-or maybe they said NC? If it is north central, I've never been there but does anybody know how the Detriot one is doing biz wise?
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  #28  
Old 10-23-2013, 10:36 AM
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if it's for sell then it wasn't profitable
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  #29  
Old 10-23-2013, 11:05 AM
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I bet collection will buy MAG's Ferrari Dealership. I also bet Suburban will buy Cauley.
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  #30  
Old 10-23-2013, 11:05 AM
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Originally Posted by DonJuan348 View Post
if it's for sell then it wasn't profitable
That's not totally true. Maybe they purchased it to build it up, make a profit selling it, then do it all over again.
Maybe they found a better place to invest the money where they can get higher returns with less work (ie. Real estate)
Maybe the owner was ready to retire, and didn't have family that wanted to take it over.
Maybe the owner needed a change because he was tired of that business.

Who knows what other reasons there are to get rid of a business that is making some money, but I don't think its automatic to assume that it wasn't making any money. Maybe it just didn't make enough for it to be worth the headaches for that particular person. I personally would not buy a dealership for 30 mil. I would use the money as down payments on real estate rental properties. I looked into buying a dealership many years ago and didn't think it was worth the return for such a large investment.
If I WAS going to buy a dealership, it would probably be a Ford dealership, not a Ferrari dealership! I honestly don't see how they can produce the volume of sales and service for it to be worth the money and headaches?

Last edited by up4speed; 10-23-2013 at 11:11 AM.
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  #31  
Old 10-23-2013, 11:06 AM
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Originally Posted by DonJuan348 View Post
if it's for sell then it wasn't profitable
Not necessarily. Could be an older owner who wants to retire? Could be a headache to run so the owner wants out? Could be that the business is profitable and the owner is cashing out? If a business is for sale it does not mean it is failing...
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  #32  
Old 10-23-2013, 11:21 AM
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Not so fast.

First, you need to buy a Fiat dealership and get on the Ferrari dealership waiting list.

Then, you need to buy a Maserati dealership and take a container ship full of fully optioned, purple QPs.

Then, maybe a Ferrari dealership.
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  #33  
Old 10-23-2013, 12:01 PM
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Originally Posted by Zinger View Post
Not necessarily. Could be an older owner who wants to retire? Could be a headache to run so the owner wants out? Could be that the business is profitable and the owner is cashing out? If a business is for sale it does not mean it is failing...
+1 This is spot on. Just because an owner wants out doesn't mean the business is failing. My old dealership the Owner was 2nd generation and he hated it so he sold it.
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  #34  
Old 10-23-2013, 12:23 PM
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Originally Posted by WCH View Post
Not so fast.

First, you need to buy a Fiat dealership and get on the Ferrari dealership waiting list.

Then, you need to buy a Maserati dealership and take a container ship full of fully optioned, purple QPs.

Then, maybe a Ferrari dealership.
Don't forget you have to buy a used Ferrari Dealership before your allowed to open up a new one too!
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  #35  
Old 10-23-2013, 12:26 PM
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Profitable dealerships get sold all the time. If it's profitable, it's going to have a very high goodwill number attached to it. $30 million is a very high number, esp. if it doesn't include any real estate.

Any buyer would have to be approved by the factory. That's not easy approval to get. You'd almost certainly have to be an existing franchise dealership owner, with a very good history. There's not a lot that would pass muster with the factory, it's a fairly small group of potential buyers.
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  #36  
Old 10-23-2013, 06:00 PM
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Bargain!
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  #37  
Old 10-23-2013, 06:22 PM
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Originally Posted by Tim1137 View Post
Don't forget you have to buy a used Ferrari Dealership before your allowed to open up a new one too!
Thank you! I would have missed that step, and always wondered why I never got the call about a new dealership ....
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  #38  
Old 10-23-2013, 06:24 PM
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  #39  
Old 10-23-2013, 06:37 PM
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Originally Posted by miurasv View Post
No, it wouldn't. It is 0.01%.
so we know he will not be CFO of the FCHAT dealership
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  #40  
Old 10-23-2013, 06:49 PM
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I need to own a Ferrari dealership like I need teeth in my *******.
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