Quantcast
Jump to content


U Haul Dealership - Good Idea?

PAPShop

By PAPShop
in Auto Shop Franchises

 Share

Recommended Posts

PAPShop Collaborator

PAPShop

Posted
Posted

The "in town" U Haul dealership went out of business - their other business, not the U Haul part - and we have been approached to take it over.

 

Is anyone else an independent U Haul dealership?

 

Pros and cons? We are in doing due diligence and researching everything about it.

Link to comment
Share on other sites


carolinahigear Collaborator

carolinahigear

Posted
Posted

Whenever I see a shop with U-Haul's I have these thoughts:

 

1) Client cars could be using those parking spaces

 

2) A heck of a LOT of aggravation for little money ** Think 1st of month renters moving, etc.

 

3) Dealing with non-client folks that probably will never spend money with you on their cars

 

4) The shop must not have very much business if they need to rent U-hauls. I wonder why they don't have much business.

 

5) See item #2

 

6) Just my 2 cents

Link to comment
Share on other sites
HarrytheCarGeek Experienced

HarrytheCarGeek

Posted
Posted

Ok, here is the feedback from my guy:

 

Commission is about 20% of gross sales, he does about $15K week in sales which works out to about $3k in revenue for him.

 

The neg, people leave all kinds of stuff in those trucks. Some are even used for crimes, and you have to be careful to keep excellent records.

Link to comment
Share on other sites
PAPShop Collaborator

PAPShop

Posted
  • Author
Posted

Thanks for the feedback everyone. Very good food for thought. Since we operate under a zoning conditional use, we are taking it to the city to see if it is against our CUP.

  • Like 1
Link to comment
Share on other sites
Bob K Enthusiast

Bob K

Posted
Posted

Did it for 1.4 years. I do not recommend doing it. It takes you away from your core business. Glad I had the opportunity but it wasn't worth the hassle. All the negative comments by the others in this thread are accurate.

Link to comment
Share on other sites
  • 2 weeks later...
PAPShop Collaborator

PAPShop

Posted
  • Author
Posted (edited)

The original guy went out of business for a reason.

You are required to have a second business, the original guy tacked his UHaul onto his wife's business selling purses and women's accessories. When she passed away, her business closed and he lost the UHaul franchise.

 

Thanks for the input everyone. The owner wants to test it and see what happens.

Edited by PAPShop
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share
Go to topic listing

  • Available Subscriptions

    See all Subscription Plans

  • Have you checked out Joe's Latest Blog?

    • Joe Marconi
      The Toolbox is Last to Leave, First is the Heart
      By Joe Marconi in Joe's Blog
         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.

  • Similar Topics

    • carmcapriotto
      To Withhold or Not To (And How) [E121] - Business By The Numbers
      By carmcapriotto
      Thanks to our partners, NAPA TRACS and Promotive
      Did you know that NAPA TRACS has onsite training plus six days a week support?
      It all starts when a local representative meets with you to learn about your business and how you run it.  After all, it's your shop, so it's your choice.
      Let us prove to you that Tracs is the single best shop management system in the business.  Find NAPA TRACS on the Web at NAPATRACS.com
      It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
      Paar Melis and Associates – Accountants Specializing in Automotive Repair
      Visit us Online: www.paarmelis.com
      Email Hunt: [email protected]
      Get a copy of my Book: Download Here
      Aftermarket Radio Network
      Click to go to the Podcast on Remarkable Results Radio
    • carmcapriotto
      Red Flags When Buying a Business [THA 383]
      By carmcapriotto
      Thanks to our Partners, NAPA TRACS, AutoFix Auto Shop Coaching, and Today's Class Join a discussion with multi-shop operators Dwayne Myers and Rick Levitan, as well as CPA Hunt Demarest, on the intricacies of purchasing a business. They cover the necessity of due diligence, understanding financials, and the emotional aspects of negotiation. The panel shares personal experiences, highlighting the importance of realistic financial projections, environmental assessments, and the role of goodwill in valuations. They advise on building strong banking relationships, scrutinizing financial statements, and respecting sellers' emotional ties, emphasizing patience and strategy for successful acquisitions in the automotive industry. Hunt Demarest, CPA, Paar Mellis and Associates, Business by the Numbers Podcast Dwayne Myers, Dynamic Automotive, 6 locations, Maryland. Dwayne’s previous episodes HERE. Rick Levitan, Managing Director, Auto Stream Car Care, MD. Show Notes
      Real Estate Strategies with Rick Levitan [AW 170]: https://remarkableresults.biz/remarkable-results-radio-podcast/aw170/ The challenges of obtaining accurate financials (00:02:03) Discussion on the challenges of obtaining accurate financials when buying a business. The importance of common sense in business acquisitions (00:06:30) The panel discusses the importance of using common sense and avoiding emotional attachment when considering a business acquisition. Legal and financial considerations in business acquisitions (00:08:24) The panel discusses legal and financial considerations, including the importance of asset purchase, non-compete agreements, and the quality of real estate. Financing Considerations (00:18:13) Discussion on the critical role of financing in business acquisitions and the advantages of using banks or owner financing. Bank Relationships (00:19:09) Importance of building a relationship with a bank and leveraging the bank's confidence in the buyer's ability to expand. Financial Statement Analysis (00:20:27) Importance of thoroughly analyzing financial statements, including understanding expenses and discretionary non-recurring expenses. Negotiating the Deal (00:22:24) Strategies for negotiating the price and terms of the acquisition, including considering the concerns of the seller and assessing the facility's assets. On-Site Q&A (00:23:31) The checklist and tactics for conducting a site visit to assess a potential acquisition, including evaluating equipment, employees, and the owner's future plans. Pro Forma and Business Plan (00:25:23) The necessity of creating a pro forma and business plan for the bank, including the importance of conservative projections and understanding the return on investment. Challenges of Multi-Shop Expansion (00:30:34) Discussion on the challenges and missteps often encountered by individuals expanding into multi-shop operations, emphasizing the need for patience and learning from experiences. Gas Station Red Flags (00:32:41) The importance of environmental assessments. Emotional Aspects of Buying (00:34:08) The emotional nature of buying a business. Goodwill and Equipment Allocation (00:38:49) Discussion on goodwill, equipment, and the allocation of the purchase price in a business acquisition, including tax implications. Understanding Multiples in Business Valuation (00:39:32) Explaining the concept of multiples in business valuation and the factors that influence the multiplier, such as location, equipment, and reputation. Negotiating Purchase Price (00:42:23) Negotiating the purchase price based on business valuation and real estate factors. Final Thoughts on Business Acquisition (00:44:03) The importance of staying positive and finding creative solutions during negotiations, leaving deals on good terms, and expressing appreciation for the insights shared. 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, Auto-Fix Auto Shop Coaching Proven Auto Shop Coaching with Results. Over 61 Million in ROI with an Average ROI of 9x. Find Coach Chris Cotton at AutoFix Auto Shop Coaching on the Web at https://autoshopcoaching.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/ Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on X (Twitter): https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections                                  
      Click to go to the Podcast on Remarkable Results Radio
    • Changing The Industry
      Has Certification Testing Been Dumbed Down? #podcast #automotivebusiness #carrepair
      By Changing The Industry
      Has Certification Testing Been Dumbed Down? #podcast #automotivebusiness #carrepair
    • carmcapriotto
      What Is/Was Going on with GME (Gamestop) Stock? [E120] - Business By The Numbers
      By carmcapriotto
      This week, Hunt unravels the mystery behind the AMC and GameStop stock phenomena that has captivated the financial world.
      Institutional Investors: Who they are and their impact on the stock market. Private Equity Dynamics: How firms like Bain Capital manipulate markets. Short Selling: A simple explanation of this complex strategy. Public Power: How individual investors can influence stock prices.  
      Thanks to our partners, NAPA TRACS and Promotive
       
      Now show notes!
      Did you know that NAPA TRACS has onsite training plus six days a week support?
      It all starts when a local representative meets with you to learn about your business and how you run it.  After all, it's your shop, so it's your choice.
      Let us prove to you that Tracs is the single best shop management system in the business.  Find NAPA TRACS on the Web at NAPATRACS.com
      It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
      Paar Melis and Associates – Accountants Specializing in Automotive Repair
      Visit us Online: www.paarmelis.com
      Email Hunt: [email protected]
      Get a copy of my Book: Download Here
      Aftermarket Radio Network
      Click to go to the Podcast on Remarkable Results Radio
    • Water Proof And Self Adhesive
    • carmcapriotto
      Auto Allies: Forging an Independent Networking Group [THA 382]
      By carmcapriotto
      Thanks to our Partners, NAPA TRACS, AutoFix Auto Shop Coaching, and Today's Class The power of unity and shared purpose. Automotive industry professionals from Buffalo, New York, discuss their independent networking group's evolution and impact. They emphasize the importance of continuous learning, support, and the benefits of a collective approach to improving their businesses and the industry. The group's resilience during the COVID-19 pandemic and its commitment to education and community involvement are also highlighted. Paul Henderson, CSR, NAPA Auto Care. Jim Fleischman, Automotive Alley, Arcade, and Marilla, NY. Jim’s previous episodes HERE. Tom Sciortino, Total Automotive, Buffalo, NY. Tom’s previous episodes HERE. Show Notes
      The impetus of the independent networking group (00:00:01) The origin and purpose of the group, including its initial formation and goals. Involvement of vendors in the group (00:03:07) The role of vendors in the group, criteria for their involvement, and the value they bring to the meetings. Impact of the group during the COVID-19 pandemic (00:06:31) How the group navigated through challenges, including vendor support and sharing of ideas during the pandemic. Positive changes and learning experiences among the members (00:14:03) The growth, learning, and positive changes experienced by the members, including the supportive nature and the development of a strong network. Leadership roles within the group (00:19:25) Tom's role as the go-to person, collaboration among leaders, and the importance of sharing ideas. Networking and visiting other shops (00:21:14) Importance of networking, visiting other shops, and the supportive nature of the group. Group dynamics and collaboration (00:22:34) The group's impact, the importance of being serious about participation, and the positive relationships formed. Supporting and collaborating with other shops (00:24:27) Collaboration among shops, sharing information, and supporting each other. Education and involvement with schools (00:29:20) Engagement with schools, internships, and creating opportunities for students. Vision for the future of the group (00:31:27) Long-term vision for the group, potential scholarships, and growth into a statewide organization. Organic opportunities and support within the group (00:33:46) Organic opportunities for members, support, and collaboration within the group. Sharing Valuable Information (00:36:34) Emphasis on the group's commitment to sharing valuable information, the diverse experience in the room, and the goal to motivate other independents. Evolving Opportunity (00:39:07) Encouragement for involvement and evolution, including the inclusion of vendors and the focus on education and teamwork in the group. 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, Auto-Fix Auto Shop Coaching Proven Auto Shop Coaching with Results. Over 61 Million in ROI with an Average ROI of 9x. Find Coach Chris Cotton at AutoFix Auto Shop Coaching on the Web at https://autoshopcoaching.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/ Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on X (Twitter): https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections                                  
      Click to go to the Podcast on Remarkable Results Radio


  • nptrb

    Understanding S-Corp Distributions and Draws | Are They Taxable?

    By nptrb, in Automotive Industry,

    1 comment 1,189 views
    nptrb

    Tax Season Preparation: A Comprehensive Guide

    By nptrb, in Automotive Industry,

    1 comment 1,028 views
    nptrb

    Spring Clean Your Finances: 5 Steps Every Business Should Take

    By nptrb, in Automotive Industry,

    1 comment 893 views

  • Our Sponsors



Main Sections

More Sections

Discussion Forums

×
×
  • Create New...