What Is Your Word Of The Year? [AW 087]
Guest host and shop tour with Travis Troy, Honest Wrenches, Des Moines, IA. Travis Troy’s word of the year is “execute.” Goals are just ideas if you don’t have an execution plan with deadlines.
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Growing Sales For A New Location [THA 251]
Opening an additional location is hard work and can be challenging with twists and turns before the grand opening even happens. Learn from three shop owners who have multiple locations and their strategy to drive business to their new locations. They offer their ups and downs, what worked, and what didn’t. Many of you know that the real work starts way before the doors even open.
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Growing Pains When Scaling Your Business [RR 683]
We all know growing pains happen when expanding your business to more locations. It’s tough, necessary, and normal. But wouldn’t it be nice to skip some of the known challenges? Consider this episode your “How to Scale” road map if you’ve been considering opening more locations. Listen and learn from a shop owner and one of his Directors, as they share some tactics to controlled chaos.
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I Want $1 Million For My Business [THA 240]
In this episode, my panel will be dissecting a pertinent issue when it comes to selling any business, which is wanting more than it is worth. Many have worked for years and want to get 1 million for their business.
As a business owner, you’ve been painting a very specific picture in your mind about retirement. Where you’ll live, what you’ll be doing, and most importantly, what will your nest egg look like. Too often your ideal price tag does not line up with the bottom line financials of your business and its true market value and what the buyer is willing to pay. And, if you’re a buyer, how do you bridge that gap from want to real value? The panel rolls up their sleeves and discusses both sides of buying and selling a business.
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Rob Merwin and Charlie Marcotte [AW 069]
Guest host Rob Merwin from Aftermarket Matters will share news on the number of shops that closed as a result of Covid-19 and the advance of mobile repair. Charlie Marcotte from American Pride in Virginia gives you a tour of his four shops.Listen and view episode notes
Behind the Scenes: New Shop Retrofit/Remodel [CC 097]
With me is Carl Hutchinson from Complete Automotive in Springfield, MO, He showcases his second location that is almost ready for the grand opening. With any remodel, there were some hidden challenges and extra costs but Carl was able to meet those roadblocks and adapt in order to keep the construction going. If you’re considering a second location but don’t have the insights or ideas to retrofit a building from the ground up you’ll love this how-to episode. Imagine how tough it was with delays and spiraling costs of building materials.
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Mergers and Acquisitions Explained [RR 668]
What is going on in overall Mergers and Acquisitions? What are buyers looking for? Why are so many family-owned businesses selling? All these questions and more are answered in this episode as Rick Schwartz from Schwartz Advisors makes it easy for you to understand M & A.
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Dynamic Automotive: 6 Years Later [RR 662]
This episode was recorded live at Dynamic Automotive’s 25th year anniversary with owners Jose Bueso, Lee Foreman, and Dwayne Myers. Like so many other businesses, it all started in a garage with some tools. With 5 locations, it has grown in every way possible, including creating a strong leadership team. Listen carefully as Jose, Lee, and Dwanye give valuable insight on how they expanded logistically and internally.
This partner team was on the second episode released in March 2015. This is a long-awaited update. Thanks to Jose, Lee, and Dwayne for believing in the concept of aftermarket podcasts so long ago.
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Satellite Location with Tom Grady [RR 649]
So many shop owners want to expand their business but oftentimes have a hard time finding a second location to purchase. You can wait years before a business location becomes available. And sometimes you find the land but building from the ground up isn’t an option for your budget. Have you ever thought about a satellite location?
Tom Grady is in the process of opening his satellite location a few miles away from his current shop. Find out how and why he did it in this real informative episode. https://remarkableresults.biz/e64Listen and view episode notes
Brainstorming on Shop Ownership – A Business Not a Hobby [RR 607]
Chris Cotton once again shares his experience on shop ownership. Chris warns that buying your first shop and or getting into business as a new auto repair shop is not a cakewalk. Just because you know stuff about cars and love working on them doesn’t make it easy. You don’t treat it like a hobby, you treat it like a business.
Strong words of wisdom from Chris warning those who venture into shop ownership must have strong financial goals to reach. You need to have a lot of brainstorming or planning sessions to come out successfully. You will not be an overnight success. A fun and fast-paced episode. Make listening to it your homework.
You can find Chris Cotton’s other episodes and the key talking points at remarkablersults.biz/e607Listen and view episode notes
THA 205 Requirements for Adding a Branch Store
Welcome to the 205th episode of the Town Hall Academy. New Year, New Challenges. Many in the industry are contemplating growth and many are thinking of selling or succession. Keep close to the insights and wisdom from your aftermarket peers, right here, who share their growth story with you.
I’m with Greg Bunch, Austin Miller, and John Manelas. Greg is the owner of Aspen Auto Clinic, Colorado. Austin Miller opened Tire Star in2011, and John owns Auto Care Plus and Euro Care Plus. Together this team has 15 branches and growing.
How many shops are enough? Is there a sweet spot? What qualities must a shop owner possess in order to successfully add a shop? What are the challenges? No doubt this group tells their tale of their initial branch store and the huge learning curve that happened with it and subsequent stores.
The key talking points from this episode are already done for you on the show notes page at remarkableresults.biz/a205.Listen and view episode notes
Six Shops in Eleven Years: The Story Behind This Explosive Growth [RR 557]
I’m with Matt Lachowitzer, a 6 location shop owner. Matt had aspirations to become a lawyer, but a fork in the road led him to be a technician and now shop owner; 6 shop locations in under 11 years. That is an amazing feat but it required a lot of work, a strong culture, pure process disciplines, and a total focus on the customer experience. Matt also has a body shop and an ADAS calibration center.
On his way to owning 6 locations, Matt Lachowitzer dropped out of school and started working In a local GM dealership. Matt shares how he grew and transformed his business with a top culture, an incredibly strong community presence, the Teddy Bear treasure, and the Girl Scout Cookie campaign that supports local food pantries and our veterans.
Learn all about these programs and more along with how he has integrated a lottery system in training and engaged his technicians to own and teach their in house training program.
Matt’s full bio and the key talking points can be found on the website at remarkableresults.biz/e557Listen and view episode notes
Phil Carpenter has been in the automotive industry since 2002 however his passion for Automotive started much earlier. He bought his first vehicle at 14 years old and still has it, a 1959 Chevy Pickup. He has spent time as an Audi Certified Technician, Service Advisor, Parts Specialist, Service Manager, General Manager and currently, is…Listen and view episode notes
Greg Bunch is the owner of Aspen Auto Clinic, a five-location automotive and service business in Colorado. Greg started his passion for cars at 15 when he began rebuilding a 1966 Volkswagen Bug. Greg has moved from a Volkswagen mechanic to ASE Master Technician, to Management, to starting his shop 18 years ago in his…Listen and view episode notes
Philip Christensen started his automotive career in 1997 with the world’s largest independently owned tire company. From there he worked his way through there apprenticeship, and management programs. In 2012 Phil joined BG Automotive which was a 4 person operation at the time. Today he has helped grow it to 3 dentations and 28 team…Listen and view episode notes
Rick Schwartz is co-founder and CEO of Schwartz Advisors LLC, a mergers and acquisition advisor and management consulting firm to the automotive and heavy-duty transportation industry. Prior to forming Schwartz Advisors, Rick’s career included senior executive leadership positions in sales, marketing, and finance. At Schwartz Advisors, Rick has advised private equity firms, aftermarket management teams and…Listen and view episode notes
https://youtu.be/fi3oBrNmE9Q Andy Bizub from Midwest Performance Cars in Chicago is also a native of Chicago. His first career was 25 years as a commodity trader. He entered the professional auto industry in 2014 by acquiring a failing shop in downtown Chicago that he was a customer of and started a turnaround. Andy now has two locations.…Listen and view episode notes
THA 136 Branch Growth Strategy
Here are two voices that have grown branch stores and they tell a story you need to hear. Find out if they were successful right out of the gate. What they learned as they continued to grow. The importance of people, processes, finances and how to they like to grow. Is it a brownfield, scratch startup or through acquisition.
Listen to Austin Miller from Tire Star with 3 stores who is only 29 years old and to aftermarket veteran Jeff Moore from Moore Tires with 5 stores. Jeff and Austin will tell you what they believe is the most important thing you need to do well before you decide to grow. They also get into the people factor and the importance and strength of your profitability before you ever decide to grow. Don’t make the same mistakes they did.
Growth in stores is an exciting strategy. It can be rewarding for all the right reasons and it could be the most costly and hardest thing you’ve ever done. My panel shares their reality for growth. Between them, they have eight stores.Listen and view episode notes
Are you ready to sell your business? Do you know how to prepare? Is it a buyers market or a seller’s market? Do you understand some of the financial principles that drive a transaction? About 50% of you will be impacted by this discussion in the near future.
We cover a large swatch of ground as we talk about the incredible opportunity for sellers as the industry consolidates, getting your financials right, processes, leases, and the all-important EBITDA number.
The panel includes three members of Cardinal Brokers: Norm Gaither, Dennis McCarron, Joel Zaleski and a shop owner who recently sold his business Jeff Pohlman Retired from Jeff Pohlman Tire a 5 Locations operation.Listen and view episode notes
Shop Talk 10 – Sold My Business – What’s Next?
Listen to former shop owners talk about their decisions and what they are doing now. Most importantly they suggest that you plan ahead for your future. We also get into the future as they see it.
My guests for Shop Talk 10 are veterans and influencers in our industry. Ron Haugen, a consultant, a teacher and a former shop owner from Westside Auto Pros in Des Moines; Dick Jobe, owns machine head, a metal art maker and a former shop owner of Downtown Import Service popularly known as Dr. Volvo; Doug Stoll, former owner of Susquehanna Auto Clinic and The Auto Clinic and co-founder of Vision, a part-time business coach and Jerry Holcom, co-founder of Vision, president of Midwest Auto Care Alliance and owner of S & S Service in Kansas. Our only non-retiree!
Remember the ability to think about or plan the future with imagination and wisdom is the very definition of what we aim not just for business but for our professional growth as well. What’s next for you!Listen and view episode notes
Acquisition Integration: A Look Inside a New Location Transition
Mike Allen, a General Manager Telle Tires and Auto Centers tells of his first-hand experience integrating a recent acquisition. This episode will show you the processes of transition and the sensitivities in customers, people, and brand when acquiring new shops.
Mike was recently involved in integration of one of Telle Tires most recent acquisition. This 10 stores 77-year-old legacy company has been on an acquisition path. Mike Allen talks about how he has lead one particular integration for the Telle family.
Aftermarket Professionals and Shop Owners will find this episode useful if they plan to expand and acquire shops. We can never say that there will be no risks with integrations but Mike’s wisdom will help you understand the excitement, opportunities, and challenges that come with growth.Listen and view episode notes
Shop Owner Sold His Business and Became an E-Myth Business Coach
Reto Filli came from Switzerland and is a trained mechanic. He and his wife ran a successful Auto Repair business for over 26 years that he sold and retired from.
His business took off when he read the E-Myth Revisited from Michael Gerber. He never looked back and he is now enjoying his next career as a E-Myth Business Coach.
We cover concepts of the E-Myth, preparing your business to sell, stop being a know it all, and apprentice programs that are needed to move our industry forward to recruit your youth into our trade.Listen and view episode notes
This a perfect bookend episode that connects with Town Hall Academy Episode 075. There we talked ‘Am I ready for my second branch?’
The Panel includes multi shop owners, with growth plans; Greg Bunch, from Aspen Auto Clinic, Colorado Springs and Denver, CO, Greg is also the CEO of Transformers Institute, Dwayne Myers, Dynamic Automotive, Frederick, MD, and Brian Sump, Avalon Motorsports, Denver, CO.
The key talking points are already done for you, sitting on the show notes page at remarkableresults.biz/a075; use them as a to-do list. Just a few highlights: negotiations, scouting leads, approaching owners, financing and a lot more. Another power packed aftermarket lesson for the forever student.Listen and view episode notes
Is there another branch location in your plans.
Have you ever thought of growing your brand into other communities? There is an art and science to intelligent growth. According to this Academy panel, it is not an easy task. You can choose an acquisition or open a brand new location.
The Panel includes multi shop owners Greg Bunch, from Aspen Auto Clinic, Colorado Springs and Denver, CO, Dwayne Myers, Dynamic Automotive, Frederick, MD, and Brian Sump, Avalon Motorsports, Denver, CO. They all have additional growth plans.
You will get a solid overview of growing your location count from the panel who have already made a ton of mistakes. Learn from them and take their wisdom to account in your growth plans.Listen and view episode notes
Lessons I Learned When I Sold My Shop
Three former shop owners tell their story on selling their business. With Margie van Lierop, Formerly of Beach Cities Garage in Laguna Hills, CA; Scott ‘Gonzo’ Weaver formerly of Superior Auto Electric, Tulsa, OK (You also know Scott from Gonzo’s Tool Box) and Dave Winters formerly of Swedish Automotive in Seattle, WA, share their experience.
Among the talking points, confidentiality, transparent and normalized profit and loss statement, valuation, business broker, asset values, being a landlord and eventual tax liability, among others.Listen and view episode notes