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Buying and Selling your Auto Shop Business


  1. New Repair Shop, Partnerships, Bank Loans

    Buying a repair shop? Creating a new company? Partnership problems? Adding more locations? Have a business deal you would like to discuss? Business Plans, Bank Loans, Real Estate.

  2. 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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    • Agreed.  I did look at Resolv and also noted that there was not much value provided by spending $720/yr.    At least Firestone is not risking much.  I see about $120-$300 in hard costs vs $720, so it's a great deal for Firestone.  If you need a battery, especially an AGM battery, then this might come close to break even for the consumer.   Some others were touting a monthly plans, but this one is an annual plan, paid monthly.   Maybe the fine print in all are annual plans.   I would imagine that Resolv would be a tough sale.   The other thing that they did was to convert their road-hazard programs to a subscription model.... adding in an alignment.   This may be a good value to the consumer as the alignment eats up most of the $120. It reminded me of the NTB 5 year alignment plan, which has a better face value.  Thanks for sharing the list.    To Danil Hopefully, you have the necessary fine print to remain whole.  For instance, can I bring my 2021 10 quart Land Rover in for a synthetic oil change and pay the $20 plan, then cancel on month 2?    Did you contemplate such expensive oils in your unlimited synthetic plan?   I charge more than your total yearly maintenance cost for this one oil change.    Firestone/Resolv prequalifies each car for the plan and does not accept all vehicles.   They list no criteria.     Are your prices and plans providing significant value to your shop?   And have you floated this concept by any of your customers?
    • I think it is the resolvauto.com link that shows me these are not all extended warranty type scam companies, although some are for sure. Resolve is a Bridgestone Firestone USA program and it shows up on their service websites, such as Firestone Complete Auto Care websites, Terms here: https://resolvauto.com/legal/RESOLV_terms-and-conditions_2020-12-14.pdf.  Plan offerings here: https://resolvauto.com/sign-up/add-plan Not sure what demographic this might work for, as it does not eliminate repair costs, and does not appear it is a good value for most consumers, but it does show that big players are testing the waters. It does appear to be a viable business model that could generate profit dollars, based on a cursory review of the monthly charges and benefits provided. 
    • Exit Strategy-Step 4- Hire & Retain Great People Your personal talents and skills will only get you so far in business.  If you rely just on what you can achieve alone, you will eventually plateau and never achieve your potential in business.  The fact is that in order to achieve your personal success, you need great people around you.  Having a strong team promotes greatness, This is because of the exchange of great ideas and also due to the different strengths people bring to the organization.  Look for superstar employees. You may have to pay them more, but they are worth it because of what they bring to your company, and great people create great companies.   Now, your job does not end once you hire the superstars; this is when you job begins.  You must do all you can to retain them: Coach them, mentor them, let them spread their wings, and empower them to take ownership of their positions.  You success is dependent on the success of others around you.  A business, built and run with superstar employees, will be more attractive to a potential buyer and add much needed profit to the bottom line, while you're in business.   
    • Every business as seasonal shifts, but that doesn't mean you can't help to smooth out the highs and lows.  The only thing that has helped for me during slow periods is to increase our service reminders during the slows months, based on historical data. For every shop it's different. For my shop, I bump up service reminders for Jan and Feb. That is my slowest time of the year.  So, I make sure that my service advisors talk to each customer in the fall and early winter about future work needed, at car delivery, and pre-book appointments for Jan and Feb.  By increasing our service reminders, and pre-booking appointments, it increases our potential for more sales.   Every shop needs to have a plan.  Do nothing, expect nothing.  Hope this helps. What are other shops doing to help pump up business during their slow times?  
    • Wow.  First I've seen of these.   Briefly looked at about half of these.    Some look like Car Warranties in different skins.   These guys are the master of fine print.   Some appear to be shops trying to lock in a recurring revenue stream, but seem risky, as I'm guessing they are missing that ever important fine print and inherit evil-nature needed to pull it off successfully.    I would expect membership to be abruptly cancelled once the fine print does kick in denying a service.    All of the ones I looked at came off like a Warranty Company and most people already know to hate and shun Warranty Companies.  Some of these are akin to Marketing companies trying to skim revenue with referrals to a provider.   Good luck finding a local locksmith or a local towing company or a local handyman without running into one of these marketing powerhouse who show up on page 1 of google searches.   You call the marketing company and they skim revenue from the local providers.   I always try to duck these guys and find the providers directly where possible. Also, I feel icky after looking at these websites.   
    • Something we are trying in our rural market. 25,000 postcards to every household within 15-40 miles distance from our service facility ($7000 cost). Not everyone agreed on the message, especially where the $1000 should go.  The individual we are looking for, is not out looking for a job. We have tried a similar path to yours, including no less then the avenues you are trying, with zero responses in the last 3 weeks.  I am hopeful we will stir up some responses. I am confident that not every technician working in this 600 square mile block we are dropping postcards to, is satisfied with their employment situation Example attached.  74136_TRAVER_1123_McKay_102521_8.5x5.5_version2.pdf
    • This is a partial list of companies trying various approach's to subscription based automotive repair and maintenance. Some claim to have advanced software to administrator and monitor the programs. I expect this is definitely part of the future automotive service landscape, especially if it gets picked up by a major player. I suspect it will take a substantial subscriber base for a successful business model to evolve.  https://emp.autologiq.ca/ https://www.carholdings.ca/ https://www.90autorepairclub.com/ http://www.autotekpro.com/automotive-blog/vehicle-maintenance-service.html https://resolvauto.com/ https://myautorepaircenter.com/membership/ https://www.thecarrepairclub.com/ https://www.havenautorepair.com/Coupons/Monthly-Membership-Packages https://www.membershipauto.com/ https://www.syncron.com/news/transforming-auto-dealer-services-for-the-subscription-economy/ https://www.forevercar.com/  
    • Looking for additional help and have placed ads on Indeed, Craigslist, tech company sites & even reached out to tech schools in the area. And with all of that only 5 applicants called to set up interviews. And none actually showed up. Although one did call to say he couldn't make the interview because he accepted a job at another shop.  Curious to know how other owners are dealing with the tech shortage? 

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