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Exit Strategy, Retirement, Selling Your Repair Shop

Ready for retirement? Do you have a plan? Selling your auto repair business? What is your exit strategy? Building a plan for retirement.

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  1. What the hell did I just do?

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  2. Selling your shop.

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  3. owner burnout

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    • Mark Guerrero has 27 years in the automotive industry, is President and part-owner of Affinity Automotive Services, established the business in 2007. He is currently on the USD 259 advisory board for automotive technology, and WSU Tech advisory board member, serves on MWACA mechanical committee. Mark is also the MWACA Wichita Chapter President, focused on keeping up with technology in the automotive industry and building future technicians. Summer Guerrero,  Vice President and part-owner of Affinity Automotive Services over 25 years in Public Service and Customer service, Background in Fire Fighting and EMS Currently Vice President Executive Board Member of Midwest Auto Care Alliance,  serves on the MWACA communication, and MWACA magazine advisory board, is passionate about educating and helping others personally and professionally.  Candice Beuttenmuller co-owns TJ’s Alignment and Repair in WaKeeney, KS with her husband, Jesse. Together they not only own but operate the full-service repair shop, with Candice on the front counter service writing, and Jesse in the bays turning wrenches. To make it truly a family affair, their 2 boys, Odin, 10, and Ezra, 5, help in the shop daily with keeping washer fluid jugs full, greeting customers, and starring on the business Facebook page in their Friday Funny videos. Candice’s family is originally from rural western Kansas where TJ’s Alignment and Repair is located. The Beuttenmuller’s purchased the existing shop in April 2017. While Jesse had the mechanical background for working on vehicles, Candice admits the most experience she had with vehicles before they purchased the shop, was checking her the oil in her own vehicle and changing a flat tire. Candice had experience in the service industry as a waitress but never dreamed that experience would transform into owning a repair shop. Rick White, President and Lead Coach for 180BIZ, an auto repair shop training and business coaching company. He also owned and managed several successful automotive repair shops. Early in his career, Rick got his arm stuck under a vehicle while working underneath it. He managed to get out safely but it was a wake up call to him and for all of us as well. This is everyone’s concern. There are too many distractions like cell phones, tablets, lackadaisical attitude of it never happening, not focused on job at task, talking to tech next to them and a whole lot more. We need to follow lift maintenance schedules religiously and document every procedure in order to check work properly. Rick White’s Previous Episodes HERE. Key Talking Points What is anxiety? It is a whole spectrum. Anxiousness can be positive, happy, and excited. Anxiety can have a negative outlook and be a chemical imbalance. Anxiety can be isolation which can lead to depression.    Brain function- to keep you alive, conserve energy. Hardwired to look for threats.  What causes it? A lot of it is self-induced. It’s a focus issue and something we create. Don’t fear stack, live in the present. Don’t let your needs affect your team.  Everyone deals with anxiety every day, most don't call it anxiety- “being in the weeds.”  Future tripping and catastrophizing- helps cope and squash the anxiety.  Be aware of the mental and physical pains of your team- noticing and addressing immediately to help change their mindset instead of waiting and losing production. Open communication with the entire team. Be empathetic and intuitive. Everyone is an iceberg. Be a resource for your team. Every time you say yes you are saying no to someone else- help and serve your customers in a healthy way.  CIA- what can you do during an anxiety event. Control, influence, acceptance Reach out for support- coach, network peers, and other people that are in similar situations to change your mindset.  The Coffee Bean book- don’t let life change you, be the change.  What are some things that can be done to dial it down- anxiety is an indicator to pay attention to. What’s real? What is fear stacked? Take emotion aside and align your expectations with reality.  “Joy shared is magnified, a burden shared is halved.”   Connect with the show: Subscribe on YouTube Visit us on the Web Follow on Facebook Become an Insider Buy me a coffee Important Books Aftermarket Radio Network Check out today's partners: This episode is brought to you by Shop-Ware Shop Management. It’s time to run your business at its fullest potential with the industry’s leading technology. Shop-Ware Shop Management will increase your efficiency with lightning-fast workflows, help your staff capture more sales every day, and create very happy customers who promote your business. Shops running Shop-Ware have More Time and generate More Profit—join them! Schedule a free live demonstration and find out how 30 minutes can transform your shop at getshopware.com Are you seeing auto shops in your area get hundreds of 5-star Google reviews and are you feeling left behind because your shop only has a few? Hey look, Broadly is your answer to getting more online reviews. With more reviews, your business will rank higher in search results — and that means more customers coming into your shop every day. Broadly helps you automatically request reviews so that your customers can promote your business with just one click. When you immediately ask for a review after service, when the experience is still fresh in their mind, you’re more likely to get a 5-star positive review. Plus, asking for feedback makes your customer feel valued and more connected to your business. Isn’t that what you want a connected customer? See how Broadly can help grow your auto shop.  Visit www.getbroadly.com/chat to learn more. Click to go to the Podcast on Remarkable Results Radio
    • Hello everyone,  I have an idea of a software that can be used to charge a customer a monthly fee.  For example, you could have different tiers:  Maintenance Lite - 15$ a month: low monthly payment for all of the conventional oil changes required by the average driver each year. Maintenance Basic - 20$ a month: Maintenance Basic includes everything you'll find in Lite, but adds... Unlimited Synthetic Oil Changes (as needed), On Rim (Seasonal) Tire Rotations (as needed), Complimentary Re-Torquing after changeover. Maintenance Plus - 40$ a month:  includes all services from Ultimate Maintenance Basic, plus the following... - Off Rim Seasonal Tire Rotations (as needed) - Seasonal Tire Storage - Flat-Tire Repair (excluding roadside assistance) - Up to four General Service Calls (diagnoses, bulb replacements, filters, etc...) - Battery Boost/Replacement (excluding roadside assistance) - Priority Scheduling Service (For seasonal tire changeover) What do you think about it?  Thank you! 
    • ASOG Podcast LIVE from ASTE 2021 - Automotive Management Institute
    • Gary Smith started in the car business in 1979 and never looked back. Throughout a 25 plus year career with new car dealerships and OEMs, he was blessed to have experienced all fixed operations positions, having been a Certified ASE and GM Master Technician, Shop Foreman, Service Advisor, Parts & Service Manager and Fixed Ops Director over many years for Cadillac/Oldsmobile, Mercedes, VW and Chevrolet stores. Gary worked as a technical field engineer and warranty audit consultant to OEMs and dealership groups in the late 80s and 90s, this experience uniquely positioned Gary to form GSS Enterprises, Inc. in 2000. Gary specializes in teaching advanced diagnostic techniques and methodology; including physical testing (Lab Scopes, Pressure Transducer, Scan Data and 5-Gas Analysis), signal acquisition & analysis, fuel and lubrication technology as well as vehicle communications data bus diagnostics. Gary teaches technical and management classes and his www.automastertraining.com hotline currently supports technicians with on-car remote technical assistance in 8 Metro markets. Gary also teaches “Train the Trainer” sessions for schools and college automotive programs. Listen to Gary's previous episodes HERE Key Talking Points “Diagnosing difficult deposit related drivability concerns” Carbon build-up affecting engine  Cars are what they eat- drivability problems/check engine lights   Diag Nation- remote support line, single call or membership base. Remote in and take control, guide technician through the repair.   “Technology is exceeding the human’s brain ability to absorb it.” Basic electricity laws is a critical foundation for correct interpretation  The definition of a new, desperately needed class of technician; The Automotive SIGINT (signal intelligence) Specialist. COMMINT (communication intelligence) understanding the network, MASSINT (measurement and signature) measure circuit and signatures of signals, IMINT (image intelligence) circuit description and operation, wiring diagrams, HUMINT (human intelligence) service advisor, technician, owner. MECCINT (mechanical intelligence). Process for productive and accurate diagnosis.  [email protected] Connect with the show: Aftermarket Radio Network Subscribe on YouTube Visit us on the Web Follow on Facebook Become an Insider Buy me a coffee Important Books Check out today's partners: Gold Certification recognizes top tier NAPA AutoCares with a high level of participation in the AutoCare program. The program was built by AutoCare Centers for AutoCare Centers to provide a consistent consumer experience, maximize technology leverage, and reward NAPA’s most committed partners. In other words, Gold Certified AutoCare Centers are the standard bearers for the AutoCare brand nationwide. Simply put, the Gold Certified NAPA AutoCare program, powered by your local shop brand, will separate you from the rest helping you boost your bay counts and your average repair orders. Learn more about NAPA AutoCare, Gold Certification, and the hundreds of other benefits the NAPA family has to offer by talking with your servicing NAPA store or visiting www.NAPAAutoCare.com. Click to go to the Podcast on Remarkable Results Radio
    • When you purchase tires from Champtires, you can expect to receive high-quality used tires. We’re able to do this because we use a three-step inspection process to ensure that we are only selling the best used tires that do not have any holes or other defects. 1. All tires are visually inspected for obvious defects such as nails, screws, broken beads and dry rot. 2. Tires are air-tested on our state-of-the-art Matteuzzi specialty testing equipment. 3. Once a tire is purchased, it is given a final inspection and test before it ships. Since 2009, we have sold premium used tires to dealers across the country. Learn more and shop now: https://www.champtires.com
    • Exit Strategy-Step 3: Establish Your Goals  It's no secret that having clearly defined, written goals, sets you apart from other business people.  You will achieve greater success, have less stress and build greater wealth for you, and for your family.   Start today; create your 5 year, 10 year, 20 year plan.  Be specific about what you want to accomplish. And commit to these goals each and every day.  Don't worry about life's obstacles and challenges that may throw you a curve ball. Having goals is far better than not having goals, and those goals can be adjusted along the way. With regard to your retirement, give a lot of thought to your future, and what that looks like. And create a goal for that too. It may seem far in the future for many of you reading this, but trust me, time goes by fast and preparing now for the sale of your business or succession will pay off.  Remember, build your business as if you are selling it tomorrow, and you be more successful while you own it, have more options in the future, and your business will be worth more when the right time arrives.  Stay tuned for Step 4!  

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