How Do I Sell My Driving School?
Are you thinking of selling your Driving School? You may be ready to retire after all of the work you have put into building the School. You probably have a lot of questions such as: What is the best way to sell my Driver Education Business? How much can I sell my Driving School for? Who would be the best buyers and who has experience in selling Driving Schools?
Synergy Business Brokers has 15 years of experience selling Driving Schools
We can help guide you through the process of selling your Driver Education Business. We sell Driving Schools with annual revenues of $700,000 to $30 Million. If your school falls within that range, we would like to talk with you about how we can help. The first step would be finding out more about your business. What types of drivers you serve and how long have you been in business. And do you focus on educating students in schools or private lessons and private courses or a combination? The next step would be to review your financial information and see how much you are making as the owner each year. Then we can give you an idea of how to price your driving school. If you would like to move forward, then we would have you sign our Listing Agreement which only provides for payment if we sell your Driver Education Business.
Confidential Marketing Program
The first step in marketing your business is to write a confidential overview of your business. This will provide some general information about your business and will be advertised on many websites. We will also contact our database of 25,000 potential buyers and reach out to other driving schools or educational companies that might want to add your business to their offerings. Before we provide them with the specifics about your business, they will need to sign a non-disclosure agreement and provide information on their qualifications. Then we will give them a more detailed document on your business, including the financial report. We will typically need to speak with many potential buyers before getting someone that is qualified and sincerely interested in your business. It's a process that unfolds over time. We usually introduce the first eligible and interested buyer to you within 1-8 weeks, and it's typically 1-6 buyer that we present to sell your driving school. On average, it takes 6-10 months to sell your business.
The best way to get an excellent price for your driving school is to have multiple offers. We strive for this on all of our assignments. This gives us the most leverage in negotiating the details of the offer in terms of pricing and structure of the deal. We also have relationships with banks, so we're able to assist qualified buyers with getting financing so that in some cases the seller doesn't need to provide any funding and can get paid in full at the closing.
If you’re in NY, NJ, CT, MA, PA or anywhere on the East Coast and beyond and are looking to sell a driving school with annual owner's net income of $200,000 to $4 Million; we are here to help. Drop us a line at [email protected], fill out and submit our easy online form or give us a call at 888-750-5950 and we’ll set up a private consultation to get started.