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.
remarkableresults.biz/a240Listen and view episode notes
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
Shop New Build with Seth Thorson and Troy Vaninetti [THA 227]
Whether you’re ready to expand to another location, remodeling an existing building or starting from scratch, construction and breaking ground can be very overwhelming with different challenges based on the location. How do you create and build the shop of your dreams?
Shop owners Seth Thorson and Troy Vaninetti share their experiences and offer advice with what they’ve learned during the process. Take this opportunity to get the wheels turning for a future project.Listen 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
Electrical Engineers Become Shop Owners Growing to Seven Stores – John and Karen Manelas [RR 569]
John and Karen Manelas attended the same school, took the same degree and became successful at their careers for 15 years as electrical engineers. They decided to take a huge life change and pay cut to start their own shop. They took on the challenge and the uncertainties. With low capital, they grew their shop from one in 2004 to an amazing 7 shops in 2019.
Growth is an amazing thing when you do it the right way. Prepare yourself mentally to put a lot of work into each location, hiring, training, and preparing the right staff.
Find the key talking points, John and Karen Manelas’ bio and links to their previous episodes at remarkableresults.biz/e569Listen and view episode notes
FTR 081 Brian Sump – Never Let Your Foot Off The Pedal Multi-shop operator Brian Sump from Avalon Motorsports and Ubran AutoCare brings a whole lot of passion to this episode as he shares some self-reflection on a rocky time he experienced and what he learned. He says that you’ve got to review what works…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
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
Is your service adviser getting forty hours of training per year?
Greg Bunch owner of Aspen Auto Clinic a five-store operation in Colorado Spring, CO tells the story on how his first branch came about. Greg tells of his best practices on how to scale for multiple locations. He shares the traits of a shop owner when preparing for expansion.
We talk consolidation, the value of quality service adviser training, what good technicians want from their shop owner, how to prepare for expansion (you need capitol), customer retention and more.
He also talks about his Transformers Mastermind group for multi-shop operators.Listen and view episode notes