Carm and Meg discuss the shop’s transition to a four-day workweek to promote work-life balance, the challenges of finding and retaining skilled technicians. Meg shares her experience as a female technician. They also discuss the need to change the perception of the automotive industry and attract more women. The episode concludes with a discussion on succession planning and the shop’s community involvement. remarkableresults.biz/aw185Listen and view episode notes
Recorded Live at ASTE 2023 Maryann Croce and Maylan Newton highlight the importance of readiness for coaching, understanding motivations and goals, and the commitment required for positive change. The conversation also covers the significance of financial literacy, the challenges of understanding financials, and the role of coaches in helping individuals make better business decisions.
Bob Ward discusses the importance of early and thorough succession planning, using real-life examples of both successful and unsuccessful transitions. Bob emphasizes the need for business owners to develop their successors and to consider their employees’ career goals. It’s never too early to start thinking about the future of your business and who might be capable of carrying it forward.
Carm Capriotto hosts a panel discussion on family businesses, specifically focusing on the challenges faced by sons of bosses (SOBs). Andrew Marcotte and Anthony Campanella share their experiences of working in their family businesses and the unique dynamics that come with it. They discuss the perception of nepotism and the importance of earning respect and value in their own right. They also discuss leadership development, work-life balance, communication, and succession planning in family businesses.
In this episode, Carm Capriotto sits down with a panel of automotive professionals who share their experiences at the Leadership 2.0 Program from the University of the Aftermarket. They discuss the importance of professional development and improving leadership techniques in the industry and how the program helped them bond with fellow service professionals. Johnny Weber, the owner of Weber’s Automotive in Dayton, Ohio, was the focus of their project. Find out how they helped him transition from a technician to a shop owner and the importance of resources available in the aftermarket industry.
Tatsu Tsuchida discusses his experience transitioning from a Japanese-only shop to an all-makes and all-models shop, his marketing strategy, and his experience taking over an existing business. He also discusses the challenges of owning a family business and the importance of having an exit strategy. The episode also includes a tour of Tsuchida’s second location.
Recorded Live at the TST Big Event 2023 with Andrew and Peter Knudsen, father and son duo of Coventry Motors in Huntington Station, Long Island. They discuss their background in the car industry, their decision to start their own business, the types of cars they work on, and their succession plan. They also discuss the challenges of running a small business, including labor rates and finding new talent. The conversation provides insights into the rewards and challenges of running a successful auto repair business and the importance of continuous learning and adapting to changes in the industry.
Recorded Live at the Vision 2023. As a business owner, it’s important to constantly seek ways to improve and grow your business. In this episode, Cecil and Kent Bullard discuss the importance of implementing effective processes, raising labor rates, and seeking help from coaches to improve business performance.
Did you know 80% of small businesses do not survive the departure of the current owner? When is the right time to prepare your business for sale? The day you opened your business! How do you maximize your selling price? Is there a simple way to quickly valuate your business? Hear from 3 business coaches on the importance of properly planning your business for sale.
Matt Fanslow shares a recent interaction with a salesperson that wanted to help in the sale of the business. There were some warning signs, and with a call to an industry peer, Hunt Demarest, Matt stopped what could have been a costly mistake.
Guest Host and Shop Tour with Travis Comfort, Rick’s Automotive, Springfield, MO. Take a tour of this 28,000-square-foot campus.
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Guest host and shop tour with Dale Warmuth, Leon’s Car Care Center, Eureka, CA. Dale emphasizes attention to detail in your shop environment for your customers and employees. His wife even bakes 30 dozen cookies a week for the shop.
remarkableresults.biz/aw114Listen and view episode notes
Guest host and shop tour with Jim Shukys, JimyZ Automotive, Streetsboro, OH. Jim is managing unprecedented growing pains. He is also training his successor with a 5 and 10 year tentative plan.
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100% of business owners leave their business, either by design or due to unfortunate circumstances. The dialogue between the owner and potential successor needs to happen as soon as possible. But how do you start that conversation as an employee? In this episode, we role-play that discussion with Bob Ward, financial advisor and consultant from Wardden LLC. We also hear from James Maurer, a former service advisor and now an owner in transition, and Craig Tice, a 20-year technician looking to become a business owner. Let this episode be your blueprint to get the ball rolling.
remarkableresults.biz/a263Listen and view episode notes
Succession Planning Blueprint [RR 677]
Succession Planning: We can’t talk about it enough. I like doing shows on this topic because we have thousands and thousands of shop owners who can benefit from this wisdom. The average shop owner doesn’t think about preparing for his or her exit until they’re ready to exit, and by that time it is often too late to prepare the business for a successful sale that may garner a top asking price. In this episode, Bryan Stasch, the Vice President of Program and Content Development for the Automotive Training Institute (ATI) defines a clear blueprint for your business. He talks about getting you ready, the shop ready, how you derive a sale price and what does walk away money look like. When should you start to put all this together? NOW, even if you don’t plan to retire for years to come.
remarkableresults.biz/e677Listen and view episode notes
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
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.
remarkableresults.biz/e668Listen and view episode notes
Unstoppable with Amy and Kelly Michel [RR 663]
How did two musicians turn into two automotive repair owners? What is their secret to both managing the business and staying ahead of the curve in this industry? What family members did they hire and who is lined up to eventually take over the business? All these questions and more are answered in this episode.
Amy and Kelly Michel’s husband and wife chemistry is hard to miss, we had fun and I guarantee you will ‘learn just one new thing.’ And isn’t that what it’s all about. remarkableresults.biz/e663Listen and view episode notes
Succession Strategies – A Real World Example [THA 233]
You can never start too early with succession planning. As an owner, you will either sell your business or leave your business by choice or due to unforeseen circumstances. Are you preparing for when that happens? Do you have conversations with your employees or family members about succession? Or are you coasting through the day-to-day with the mindset “I’ll get to it soon.” In this unique question and answer episode, we have a shop owner looking to retire and a CPA and a succession consultant to guide him through the process.
remarkableresults.biz/a233Listen and view episode notes
Career Upgrade: Service Manager to Shop Owner at 29 Years Old [RR 608]
In keeping with my goal to interview new shop owners and the upcoming youth of our industry. Here is an incredible story.
Our episode today a succession story from a non-family internal candidate. A trusted service manager who hasn’t even purchased her first home.
Welcome, Colleen Yarger. She trained in the hotel industry for more than 10 years and has risen through the ranks as a service manager. Amazing that this 29-year-old has taken steps to become a shop owner. Despite her young age, she doesn’t lack the talent and has been guided by former owner Mark Goldsmith who has been a great supporter of the RR podcast.
This episode shows what is possible and how Colleen seized many opportunities she had presented to her starting with my friend Maylon Newton, then with Ryan Tunison. Lots of great inspiration to see what can be possible when you capitalize on every situation presented.
The key talking points reside at remarkablersults.biz/e608Listen 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
Thoughts from an Unprecedented Year and Looking forward to Strategies for 2021 – Bonus Episode 008
As an industry we are essential.
The strong got stronger
. Virtual online training became the norm and will become a permanent part of our training needs
. Milestones reached this year:
600th episode of Remarkable Results Radio
. 200th episode of the Town Hall Academy
. The launch of Aftermarket Weekly.com
. Launched all LIVE show broadcast on the website’s LIVE page
. Training must become part of your culture
. The value of coaching.
Networking is a must to grow and learn
. Succession planning and growth
. Embrace our youth
. Set up an apprentice program
. Reach out to a local shop and have coffee and talk.
Buying and Selling – A Tale of Two Deals [THA 199]
An episode that showcases a sale and an acquisition and the story behind these aftermarket transactions from two couples who each had a great opportunity.
Kevin and Sarah Bickford bought the Fox River Tire & Auto, Richie and Leslie Zimmerman owned and sold 3 Shops to a big box brand. The reasons and method of these two transactions will help you realize how these opportunities take an immense amount of work and maybe some luck.
The key talking points from this episode, they are already done for you. Go to the show page at remarkableresults.biz/a199.Listen and view episode notes
Life After Succession – Randy Pickering [RR 576]
Family businesses can survive the generations, needless to say, you’ve got to do a lot of things right. It’s the culture, discipline, and the brand that gives the necessary template for a successful transition.
Today we welcome Randy Pickering, legacy owner of Pickering’s in Lakewood, CO. Pickerings is an amazing company that is transitioning into the 5th generation, Randy’s two sons. That is a rare thing.
To help gain their independence Randy says his sons both wanted to join a 20 group of their own and opened their 2nd store to scale up for a solid exit plan. Randy shares his newfound life after leading Pickerings in Lakewood, CO.
Find the show notes at https://remarkableresults.biz/e576.Listen and view episode notes