Auto dealerships remain in high demand. Acquiring dealerships requires more work.

“It’s still an unbelievable business,” Brian Gordon, president of New York-based Dave Cantin Group , which advises auto dealerships on mergers and acquisitions, said in an interview. “You cannot get into the club very easily.”

Traditionally, auto dealerships are family businesses. There are major publicly traded dealership companies such as AutoNation Inc. The publicly traded Penske Automotive Group said in July it was considering a proposal to go private.

Still, the family model remains widespread.

Dave Cantin Group (DCG) said in a Sept. 9 statement that demand for dealerships “is at at all-time high” particularly in U.S. Sun Belt markets.

What’s contributing to demands: Aging family owners and increasing complexity of dealership operations. Service operations are more important than ever. Dealerships are investing in mobile service trucks , which perform routine services such as oil changes at customer homes.

As a result, dealership owners have to evaluate whether to remain in the business or sell.

“It is becoming more capital intensive,” Gordon said of auto dealership operations. “There is a convergence of things that are happening. It’s going to take the next three, five, 10 years” to determine how the business shakes out

At the same time, potential dealership buyers have to be more proactive and not wait for a “for sale” sign to go up.

DCG said in its Sept. 9 statement, it helped clients acquire “off-market” dealerships in Florida, North Carolina and Texas.

For example, Ourisman Cars acquired Toyota of Roanoke Rapids in North Carolina. Ourisman identified Toyota “as a priority brand” and wanted to expand south from Mid-Atlantic states, DCG said in the Sept. 9 statement. “The acquisition expanded Ourisman into the sought-after state of North Carolina and added its second Toyota franchise.”

Toyota of Roanoke Rapids was not up for sale. DCG profiled the outlet and dynamics of the market, then approached the owner.

Gordon said transactions will vary according to a variety of factors including location and what automakers dealers are franchises of.

“Great assets are selling at real premiums,” he said.