In the spring of 2023, Kevin Wilson, owner of Jiffy Lube in Courtenay, approached Chinook seeking to sell his automotive business. The reason? Burnout—a common challenge faced by many business owners.

After connecting with Ramon at Chinook Business Advisory, Kevin embarked on a journey to sell his business. Once the valuation was complete and a fair price was agreed upon, the business was discreetly launched by a blind profile online on March 7, 2023.

“The overall assessment and promotion of the business was very well done, it appeared very attractive to buyers,” notes Kevin.

Within a mere two weeks, multiple offers flooded in. On April 19, a qualified buyer sealed the deal, and by July 15, 2023, the business changed hands—selling just over a month after listing.

There were a couple of reasons why this business sold so quickly:

1. The business was priced fairly
   When you work with Chinook, you begin with a detailed, market-based business valuation. Then, the team leverages decades of knowledge and experience to give honest insights on what your most probable selling price is. While the ultimate decision on price rests with the business owner, Chinook’s assistance ensures that the business is priced attractively to entice potential buyers, all while aligning seamlessly with your goals.
   
   
2. Kevin hired a professional
   There’s a reason business brokers exist. Many have a deep understanding of the market and can provide valuable insights into the buying and selling process.  What is not mentioned in this story, is how the buyer was in Ramon’s internal network. Collaborating with a professional business intermediary not only involves standard functions but, more importantly, taps into decades of experience and extensive networks, expediting the deal-making process in many cases.

Post-sale, Kevin and his family embarked on a globetrotting adventure, with trips around the world and upcoming plans for Thailand and Cambodia in December.

Reflecting on his experience with Chinook, Kevin states, “There was nothing Chinook could have done any better. Ramon’s patience was excellent, everything was very well done and organized. Overall experience 5/5.” As for Kevin’s future plans, he’s gearing up to launch another business in February 2024.

And how are the new owners, Lyle Smith and his son Mathew Cordick, faring? They’ve seamlessly taken the reins, leveraging Mathew’s expertise as a certified mechanic to expand services. Additional staff has been brought on board, roles have been expanded, and a new maintenance package for electric vehicles has been introduced—ensuring the continued success of Jiffy Lube, Courtenay, under fresh ownership.