First time poster and glad to be here.
I'm a 40 something entrepreneur not currently in the auto repair business but I've been exploring shop ownership for several years.
Unfortunately, I've come up short using traditional business brokers to find a shop worth purchasing. To date, all that I've looked at have been overpriced and/or have some serious issues.
As shop owners and managers, do you have any tips for finding a solid, well-run general auto repair shop (EBITDA/SDE of $250k-$2MM) to acquire?
I would be grateful for any insights.
By Jeremy Glassco
I get asked this many times. How would I use a custom mobile app if I had one for my shop?
Take a moment to think about that.
Imagine what you could do IF you had a custom mobile app for your vehicle owner customers to download, interact with, and engage with your brand?
I'm noticing this trend in the food industry, retail industry, and now even in the medical industry.
What about our auto repair industry niche?
We're working on version 7.3, and part of what I love to do is get great feedback and build it into our upcoming versions.
What about you.
What type of features would an auto repair professional like yourself want in your dream app?
Please share your ideas here and my hard working team of app gurus will get on it!
Last week a sales rep from a local Mercedes parts department stopped in to see me. He has been to my location several times in the past, always polite and professional. He handed me a paper with several topics highlighted such as extended parts dept. business hours during the week, Saturday hours, on-line ordering and mobile diagnostics. He provided additional information about each topic but the item that concerned me was mobile diagnostics. He explained that today’s vehicles are so complex that in many cases they require proprietary OEM equipment, information and training to efficiently repair them which they can provide, for a fee, at my location. He went on to tell me that they are equipping two vehicles, one vehicle for diagnostics and the other vehicle equipped with a compressor, tire machine and balancer. Whoa.... now he lost me, we need assistance replacing tires? Seems to me this mobile task force is NOT our friend but instead our foe, a wolf in sheep’s clothing. They are gearing up to provide mobile repairs in my area at my customers homes and work places, not good. I expressed my concern and he quickly informed me that everyone else that he had presented this concept to were very pleased to be able to receive assistance (for a fee) when needed and did not look at this as competition. This dealership is owned by Lithia, one of the top ten largest dealers in America. I doubt if we, the local independent repair community, could keep two mobile repair vehicles busy enough to warrant their existence. Fine, they are willing to “help” me (for a fee) with problem jobs at my location but I feel they are clearly after my customers. What are your thoughts? Are there any dealers in your area also offering this same service?
I know the digital inspections and tablets have been available for quite some time, but we are just now looking into implementing one in our shop. I've done demos with both autovitals and autotext.me and while autotext.me is significantly cheaper than autovitals, I was wondering if anyone has had experience with one over the other? I can't seem to find much feedback on autotext.me or really how it will integrate with mitchell1 as our management software. Thank you in advance!
By Mark Johnson
Have you ever done a Tax Planning exercise? Do you know the difference between Tax Preparation and Tax Planning?
Tax Preparation is the backward-looking process of using your income to produce a tax return for the IRS. It is done after the fact and its main purpose is compliance.
Tax planning however, is a strategic and proactive look at your business and personal finances in an effort to Legally minimize your tax exposure while ensuring that you are in compliance with the Internal Revenue Code (IRC).
Not knowing the difference between the two can cost you thousands of dollars in unnecessary over payments, fees, penalties, interest charges or even jail time.
I am a Tax Strategist who helps Auto Shop owners to reduce taxes by as much as 50% and eliminate financial risks.
To learn more please free to reach out.
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