Woodstock Garage is headed toward new ownership soon, leaving the family that founded it in 1925.
Rex Morrison, the owner of the garage, said the sale likely will be finalized in the next 30 days. Morrison said he has reached a tentative agreement with the new owner, but nothing was set. “Technically, I’m still the owner,” he said.
A changing business climate and increased pressure from all sides have been pressing Morrison to retire and sell the family business for some time, he said.
“There have been pressures from manufacturing and other institutions to keep Woodstock a Chrysler, Dodge, Jeep and Ram point,” he said. “A single point auto store has some significant challenges because of the cost-effectiveness of economies of scale.”
Single point dealers, Morrison said, are dealerships with only one location. More locations under one umbrella and one system make it easier to do business, he said.
Competing with dealers such as the Leckner chains is getting harder and harder, he said.
Morrison declined to comment on who the buyer is, but he did say that “larger groups are better able to handle the cost factors involved.”
While the thought of selling the dealership had been brewing for some time, Morrison said he did not advertise that the business was for sale. Rather, a deal was reached by working with the manufacturer, which owns the franchise, and himself as the dealer.
“Nothing gets done unless they’re happy. Nothing gets done unless we’re happy. Nothing gets done unless the buyer’s happy,” he said. “Hopefully, everybody is gonna be happy.”
In order to ensure a smooth transition, Morrison said the potential new owner wished to keep their name out of public discussions. When the deal is closed, Morrison said, the transition will be close to immediate as “they’ll want to hit the ground running.”