#438 - How To Buy Out Your Dad (And Your Biggest Competitor)
About this episode
Byron Oldham shares his experiences of buying out his father's dealership and his biggest competitor without using a floor plan.
In this episode of the Independent Dealer Podcast, Jeff Watson and Luke Godwin sit down with Byron Oldham, owner of Honest Autos in central Florida and the FIADA Florida Independent Auto Dealers Association Quality Dealer of the Year for 2025 — who, at the time of recording, was preparing to head to NIADA nationals in Denver. Byron built his two-location operation by doing something most dealers never get the chance to do twice: buying out his own father's store, then turning around and buying out his biggest competitor. He's done both without ever touching a floor plan. What You'll Learn: -How Byron negotiated the buyout of his dad's dealership — and why the conversation came down to "sell it to me or I'm going to be your competitor" -The rev share structure he used to acquire 700 accounts from a competitor without a taxable event, a giant upfront check, or inherited headaches -Why his buying team is now larger than his selling team — and how being located next to the largest retirement community in the world changed everything about how he sources inventory -How he's stayed entirely self-funded across two acquisitions, two locations, and 45 years of family legacy —…
People in this episode
Hosts: Jeff Watson, Luke Godwin
Guest: Byron Oldham
Topics covered
- buying a dealership
- family business
- competitor acquisition
- self-funding
- automotive industry
- negotiation strategies
Keywords
- buyout
- dealership
- negotiation
- self-funded
- automotive
- family legacy
- inventory sourcing
Mentioned in this episode
Organizations: Honest Autos, FIADA Florida Independent Auto Dealers Association
Places: Florida, Denver
More episodes of The Independent Dealer Podcast
- 29 - Monday Minute | Is Your Dealership Actually Worth the Investment?
- #440 - Are You Starting the Trade Conversation Too Late?
- #28 - Monday Minute | Nothing Happens Until You Collect the Money
- #439 - They Said He Was Too Small for Reinsurance. Buckeye Disagreed.
- #27 - Monday Minute | Takes Years to Build, a Minute to Destroy
- #26 - Monday Minute | Busy Doesn't Mean Profitable
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