Buying an auto, RV or boat dealership in Space Coast and Volusia

• Service and parts income that covers much of the fixed costs, so a slow sales month doesn't sink the store.
• Inventory that sells steadily, with few units past the lender's paydown deadlines.
• Finance and service managers who would stay.
• For franchised stores: a manufacturer happy with sales and the facility, with no pending demands for costly renovations.
• For independent lots: buying skill that doesn't live only in the owner's head.
• Clean paperwork: titles handled promptly, deals funded quickly, few customer complaints.
• For RVs and boats: service, storage and parts customers who keep coming back between purchases.
• A visible location on a busy road, with room to show inventory and service bays that stay booked.

Get the floor plan statements and a report of how long each unit has been in stock. Units that have sat for months often carry losses the books don't show yet. The price usually splits into goodwill (the franchise and the name) plus inventory, parts and equipment at cost, so agree how inventory will be counted and valued on closing day.

Read a sample of deal files: titles, odometer statements, how quickly lenders funded, and chargebacks (finance and service contract commissions taken back when a loan pays off early or a contract is canceled). Check the dealer's history with FLHSMV and the Office of Financial Regulation.

For franchised stores, read the franchise agreement and the manufacturer's recent performance and facility reports, and talk to the manufacturer early. For RV and boat dealers, look at the seasonal cash swings and whether manufacturers help with floor plan interest. And ask how inventory is insured and moved before a storm: a full lot is a lot to lose.

• How much of your gross profit comes from service, parts and finance rather than selling vehicles?
• How old is the oldest unit on the lot, and what's it costing you each month?
• Who are your floor plan lenders, and would they finance a new owner on similar terms?
• Has the manufacturer asked you to upgrade the building, or raised concerns about sales?
• Who buys your used vehicles, and how do they go about it?
• What do you do with the inventory when a hurricane is coming?
• Have you had any customer complaints or title problems in the past few years?

This region covers Brevard, Volusia and Flagler counties: Melbourne, Palm Bay, Titusville, Cocoa, Cocoa Beach, Merritt Island, Daytona Beach, Port Orange, Ormond Beach, DeLand, Deltona, New Smyrna Beach and Palm Coast. Brevard's economy is built around space. Rockets launch often from Kennedy Space Center and Cape Canaveral Space Force Station, and aerospace and defense manufacturers and their suppliers employ engineers, technicians and machinists across the county. Port Canaveral is a major cruise port.

Volusia depends more on tourism, beaches and big events, with Daytona's motorsports and motorcycle rallies drawing crowds. Health care and a large retired population matter too. Flagler County, around Palm Coast, is mostly residential. Machine shops, electrical and engineering firms, home service companies, marine businesses and restaurants all have a place here.

Brevard's fortunes follow the space and defense programs. A company that sells to aerospace firms should be able to show you how many customers it depends on and how secure their work is. Business in Volusia spikes around big events and the winter season, so look at revenue by month.

The whole coast faces storm risk. In 2022, Hurricane Ian brought flooding to much of Volusia, and Hurricane Nicole, which came ashore near Vero Beach six weeks later, washed away beaches and seawalls along the Volusia coast. Beachfront property needs careful insurance and structural checks. The Indian River Lagoon and the St. Johns River make boating and fishing part of daily life, which keeps the marine trades busy. Palm Coast and the Palm Bay area have added many new homes, and companies serving those areas have grown with them.