RR 397: Acquisition Integration – A Look Inside a New Location Transition

Mike Allen has been with Telle Tire since 2017. He got his start in 1999, cleaning floors and pumping gas at 15 years old, eventually working up to replacing tires, changing oil and operating a shuttle van. Now, as a manager, he absolutely loves customer interaction and providing excellent service. At home he enjoys working around the house, riding his bike or spending time outdoors with his wife, Angie and two daughters Kaylee and Courtney.

Key Talking Points:

  • Industry veteran now GM of two locations of Telle Tire and has been involved in a recent acquisition.
  • Telle Tire continues to grow.
  • Growth presents issues:
    • Finding good help
    • Integrating new staff if acquisition vs a brownfield.
  • There is always a transition time.
  • Every transition is different.
  • Customer interaction is important but he also has to help integrate vendors and team members.
  • How Mike helps his team with change:
    • Make feel as comfortable as possible. A new team will be uneasy.
    • Be honest.
    • Don’t immediately make huge changes.
  • They try to find locations that fit their growth strategy.
  • Some locations will not be successful, according to the company, right away.
  • They will meet with the acquiring team 3 or 4 days previous to the deal.
    • Some sellers do not do a good job of passing the torch.
  • Pay and benefits are covered right up front. They want to make this the least of their concerns.
    • 401K, Health, Dental, Trips, Good Vacation Time, great commission plans, Free Flights after 7 years.
    • They want to have a compensation plan that makes it attractive to work there.
  • You learn with each acquisition
  • Sometimes there are tough decisions that have to be made especially if the location was under financial stress. Things will change.
  • Challenges of re-branding
    • Many acquisitions have been in business for many years and it can be a struggle to re-brand or the best thing to do. Especially if the former owner was a pivotal lead in the business.
    • Some stores get a make-over right-away and some will wait depending on the acceptance of the customer.
  • As a consolidator in the industry, it happens either looking for locations more than people are calling them to be considered for acquisition.
    • Looking for locations with a good reputation and good reviews.
  • They do a great job reaching out to customers in the market about what they are doing immediately with the acquisition.
  • Having patience whether buying or selling is very important.
  • What makes Telle tire unique,
    • Sharp sales lobby
    • Loaner cars
    • Shuttle service
    • A kiosk centers to look at the company website.
    • Cold water
    • Fresh fruit

Resources:

  • Thanks to Mike Allen for his contribution to the aftermarket’s premier podcast.
  • Link to the ‘BOOKS‘ page highlighting all books discussed in the podcast library HERE. Leaders are readers.
  • Leave me an honest review on iTunes. Your ratings and reviews really help and I read each one of them.

 

Be socially involved and in touch with the show:
Facebook   Twitter   Linked In   Email    Events    Speaking


 

The auto care industry is revving up.  New technologies are changing cars and the way people use them. To stay in the driver’s seat of all these advancements, you need to take charge of your learning, your business and your legacy. That’s where the 2020 NAPA EXPO comes in. With help from industry experts and the best suppliers and manufacturers, the 2020 NAPA EXPO will provide the innovations and answers you need to charge forward into the future.

This is your chance to: network with experts in the industry, discover the latest innovations that will help you stay market competitive, and learn more about the new products, services and equipment you’ll soon be using every day.

Join us in Las Vegas, April 6-9, 2020!  Contact your NAPA AUTO PARTS store today to reserve your package for this can’t miss event. Enrollment is going on now.

To learn more about NAPA AutoCare and the benefits of being part of the NAPA family, visit www.NAPAAutoCare.com.


Subscribe to a mobile listening app HERE.

About the author, Carm Capriotto, AAP

Carm is the founder and host of the Remarkable Results Radio Podcast and the pioneer of automotive aftermarket podcasts. Carm calls on his years of experience in the aftermarket to bring engaging stories from his guests.

Listen to raw, unfiltered, honest, and sincere stories that include insights, trends, best practices, and expertise. Each interview brings an opportunity to learn one new thing through the stories of personal achievement. Many podcast guests tell their story of transformation from working in their business to working on it.

As host of over 1,000 episodes, Carm uses his enthusiasm and passion for the aftermarket especially the service sector to take his listeners on a journey showcasing successful service professionals’ paths to Remarkable Results. He also enjoys interviews with aftermarket industry thought leaders who bring their industry perspectives to his listener.

Follow the podcast on your favorite podcast listening app and always listen to learn just one thing!