Selling Your Auto Repair Business [THA 416]
Thanks to our Partners, NAPA TRACS, and Today’s Class
Join Carm Capriotto and a panel of experts—Joe Marconi, Dan Buss, and Nick Salas—as they delve into the intricacies of selling your automotive repair business. This insightful episode covers everything from preparing your business for sale and understanding valuations to structuring deals and ensuring clean financials. Learn from seasoned shop owners about succession planning, transparent communication with employees, and navigating the emotional and professional challenges of ownership transitions. Whether it’s asset vs. stock sales, working with valuation experts, or addressing staff concerns, this discussion equips you with the knowledge to maximize your business’s value and ensure a smooth sale.
Joe Marconi, Executive Council Member, Elite Worldwide. Auto Shop Owner. Joe’s Episodes HERE.
Dan Buss, Elite Worldwide.
Nick Sallas, Sallas Auto Repair, Kansas City
Show Notes
- Watch Full Video Episode
- Importance of Transparency (00:02:18)
- Joe Marconi on Readiness (00:03:13)
- Succession Planning (00:05:16)
- Successor Challenges (00:06:40)
- Selling Experience (00:08:11)
- Valuation Discussion (00:09:51)
- Multiple Valuation Explanation (00:10:37)
- Advice on Business Preparation (00:12:18)
- Challenges of Selling a Business (00:13:23)
- Cultural Implications of Cash Transactions (00:14:43)
- Building Generational Wealth (00:16:25)
- Understanding Succession Planning (00:17:03)
- Emergency Plans in Business (00:20:37)
- Importance of Professional Advisors (00:22:34)
- Emotional Impact of Selling a Business (00:28:43)
- Contracts for Key Employees (00:32:05)
- Transparency in Hiring (00:33:07)
- Interview Questions for Potential Hires (00:34:15)
- Structuring Business Sales (00:35:38)
- Maintaining a Business Plan (00:37:12)
- Dealing with Tire Kickers (00:38:04)
- Evaluating Business Offers (00:39:19)
- Importance of Clean Financials (00:40:22)
- Value of Independence in Business (00:41:21)
- Goals for Business Sellability (00:42:32)
- Preparation for Selling (00:43:08)
- Maximizing Business Value (00:43:54)
- Purpose and Succession Planning (00:45:26)
Thanks to our Partner, NAPA TRACS
NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/
Thanks to our Partner, Today’s Class
Optimize training with Today’s Class: In just 5 minutes daily, boost knowledge retention and improve team performance. Find Today’s Class on the web at https://www.todaysclass.com/
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The Aftermarket Radio Network: https://aftermarketradionetwork.com/
Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/
Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/
Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/
The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/
The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix – Auto Shop Coaching. https://chriscotton.captivate.fm/
Speak Up! Effective Communication with Craig O’Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/
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!