Open Forum: Ask the Shop Owner – Part 2 [THA 160]
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 notesTHA 136: Branch Growth Strategy
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 notesTHA 128: Valuing and Positioning Your Business For Sale
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 notesRR 423: Shop Talk 10 – Sold My Business – What’s Next?
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 notesRR 397: Acquisition Integration – A Look Inside a New Location Transition
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 notesRR 365: Reto Filli. Shop Owner Sold His Business and Became an E-Myth Business Coach
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 notesTHA 082: Acquisition Strategies
Acquisition Strategies
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 notesTHA 075: Am I ready For My Second Branch?
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 notesTHA 052: Lessons I Learned When I Sold My Shop
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 notesTHA 004: Preparing Your Business For Sale
Preparing Your Business For Sale brings real world experience from a shop owner that just sold his business, one that is starting his succession plan and a business coach and consultant to bring the objective and metrics to this discussion.
Join Gary Plimmer, Ron Haugen and Bob Greenwood for this very frank and game changing Academy forum.
Listen and view episode notes