By Joe Marconi
The strength of your company relies on many factors, and one of the most important is having a great set of systems and procedures in place. Systems and procedures bring consistency to your customer service, and to your repairs. While I am not a fan of creating a company with employee clones, having everyone in your company on the same page, sharing common goals is crucial for overall success.
In terms of selling your company, having systems and procedures in place is an advantage when potential buyers are interested in your company.
Please remember, it doesn't matter where you are in your business career, you are never too young to start planning for your exit strategy. And, perhaps equally important is that by preparing your business for sale will actually help build a stronger and more profitable business.
Stayed tuned for more tips on Creating Your Exit Plan.
Champtires – one of the leading e-commerce used tire sellers – is not facing supply chain issues. In fact, over the past several months, Champtires’ inventory has grown exponentially.
“Luckily, we are still able to source really great tires right now,” said Brad Rea, president and founder of Champtires. “Ninety percent of our inventory has 7/32 tread or above, and we’re adding hundreds of Michelins, Pirellis, Continentals – tires in every brand really – every day.”
Reselling used tires with significant tread life left saves them from ending up in a landfill. And it allows consumers and auto businesses to save drastically compared to new tire prices.
“Relying on premium used tires is a responsible way to use recycled products while saving yourself a lot of money,” Rea said.
High quality used tires are perfect if you need to match one or two to a remaining set or when replacing all four tires. Every tire that enters a Champtires facility goes through a thorough three-step inspection process. Free FedEx shipping is included on all website orders to the continental U.S.
Learn more and shop now at Champtires.com.
Bill Haas is the owner of Haas Performance Consulting LLC, with 40 years of experience in the automotive service and repair industry. Clients now have access to Bill’s solution based focus, expertise, unique perspectives and in-depth knowledge of the industry. Services available include business management seminar development and delivery, keynote presentations, business consulting, performance coaching, and strategic planning facilitation. His career includes time as a technician, shop owner, technical trainer and most recently on the staff of the automotive industry’s oldest and largest association representing automotive service and collision repair businesses. .Bill received the Accredited Automotive Manager (AAM) credential from the Automotive Management Institute in 1996 and has been a member of the Automotive Management Institute’s faculty since 2002
Listen to Bill's other episodes HERE
Key Talking Points
Successor struggle- when every day is a struggle “Advanced Financial Strategies for Peace of Mind”- what is it that you need to pay attention to in business? KPI’s need to be reviewed every day, don’t wait until the end of the month. It needs to also be shared with employees. “If you don’t share, they don’t care.” Don’t make decisions without data- it lets you know what you need to work on and prioritize. Strategic thinking instead of working on many things at once. How do you know what to fix? Pause and do analysis. Make cars count vs car count. Coaches change clients- is this someone who is willing to put words into action? You need an investable business in order to retire- can’t wait until the end to start working on your business You have to want to change yourself and your business. If not don’t hire a coach or even join a networking group Focus on one particular area of concern, get it right, then move on to the next. Stop the smorgasbord of quick fixes. You can’t wait to fix the business when you want to sell or retire. It takes a few years depending on the depth of the struggle P & L statement- don’t ask your accountant how the business is doing, don’t rely on them to take the pulse of the business. Most accountants have clients in all different industries, they don’t know how to “fix” your automotive service business. Ask them to perform one job and that is to minimize your tax liabilities. Finances in your business is just a big math problem to solve Labor rate- gross profit percent on labor, labor parts split, hours per repair order Sales forecasting and budgeting- have goals, targets and expectations Connect with the show:
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This episode is brought to you by AAPEX, the Automotive Aftermarket Products Expo. AAPEX represents the $740 billion global automotive aftermarket industry and has everything you need to stay ahead of the curve. AAPEX 2021 is in the record books and lived up to presenting leading-technical and business management training from some of the industry’s best and brightest. Now set your sights on Las Vegas in 2022. Mark your calendar now … November 1-3, 2022, AAPEX - Now more than ever.
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What's the biggest mistake owners are making when marketing their shops?
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