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    • By carmcapriotto
      Kevin Syed, Owner of Integrity 1st Automotive, grew up with an entrepreneurial father and was always encouraged to lead. Having successfully earned a Bachelor’s degree in Business Management from University at Buffalo, Kevin went on to become a franchisee with Getty Petroleum / British Petroleum service centers for the better part of a decade in New York City. After gaining the knowledge, experience, and funding required to produce his own operation, Kevin went on to operate his own independent shops in New York. Kevin sought to find a new place to call home with his wife and twin girls; he longed for the community values and environment of the South and so his family made the decision to move to Texas. Integrity 1st Automotive was then born in Texas and Kevin has scaled his business to multiple locations across the Dallas Fort-Worth Metroplex. When he's not working, Kevin enjoys local car rallies (e.g. Lamborghini Club Dallas), traveling, and hunting.
      Ramy Nazim, Director of Integrity 1st Automotive, graduated from the University of Toronto in 2014 with a HBSc. in Biology & Psychology. While he continues to have an affinity for academia and the life sciences; he found his technical prowess to be of vast usage in the working world. Post-graduation, he went on to work with a local software startup specializing in real estate marketing tools. The startup experience allowed Ramy to engage with virtually every facet and department of the business. Insofar as the automotive repair industry, Ramy works to leverage technological solutions to help increase operational efficiency, develop automations, create event-driven communication flows and more! When he's not working, Ramy enjoys traveling with his wife, cooking with the help of Youtube tutorials, and reading about science and history.
      Key Talking Points
      Put it in writing- a discussion on the importance of standard operating procedures, processes, training paradigms in order to scale the business to multi-locations. Put the system into place.  Is it auditable? Having things written is one thing - but how are you tracking compliance? Every process should have a check and balance behind it- quality assurance on whether it is being done. Area Manager (or yourself as an owner) with a preset checklist or leverage technology (software management system). Prioritizing- If you are ambitious on growth, then you've likely got a laundry list of goals and tasks; some are working ON the business and some are working IN the business. Develop a methodology of prioritization- tie your task to a specific KIP, goal or ROI. Eliminates redundancy. Be open to change.   Incentivized Extraordinary Performance- empower and develop your employees. Incentives that promote entrepreneurial thinking work the best. Profit-sharing- share part of profits with managers/lead technicians and share P & L. Being transparent.  Keep your eyes on Customer Churn- We are in the people's business, one of the most important KPI's to focus on whether one shop or multi shops is to know how many customers are churning from your business annually. (SAS- software as a service). Track weekly/monthly/quarterly/annually- how much of car count is return vs net new customers. Touchpoints for every life cycle of a customer’s vehicle. Remarket and reengage with customers. Churn is inevitable but control it as much as possible.  Automation- there are only so many hours in the day; with compartmentalized thinking and technology, you can get more out of each day by offloading redundant tasks to technology without one size fits all solutions.  The Customer Experience- we know that it's all about the little things when it comes to curating a memorable experience. That being said, how do you make sure the little things are being followed when you're not there? Your model should work for ANYONE- If you build scalable models, then you can confidently scale to prospective franchisees and feel confident that your customers will Connect with the show:
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      Important Books
      Check out today's partners:
      Since 1989 TRACS has been the industry’s leading shop management system. And in the last 30 years it’s gotten better and better. Today TRACS Enterprise offers even more of the features AutoCare Center owners want—things like a powerful interactive scheduling calendar, faster and streamlined work flow, plus streamlined parts ordering and purchasing options. And there’s more—Punch-out to Mitchell ProDemand, mobile VIN capture, and multi-shop capabilities. That means you can count on TRACS Enterprise to help drive your success today and well into the future. Learn more about TRACS Enterprise and the hundreds of other benefits the NAPA family has to offer. Talk with your servicing NAPA store or visit www.NAPAAutoCare.com.

      Click to go to the Podcast on Remarkable Results Radio
    • By Joe Marconi
      This forum will outline the steps that I took the past three and half years, working toward my exit strategy.  I will outline each step, each week, to give you information that I know you will find informative and useful. Please note, these steps are the ones that I took, and your situation may differ. However, you will find so many similarities, that I am sure you will obtain a ton of great information.   Ok, here we go...
      STEP 1 - Get Your Business Ready to Sell Today
      You are never too young to begin thinking about your retirement or sale of your business. Work hard on your business to get it to run on its own.  For quality of life, and to grow a sucessful business, requires having the right people, the right systems, a knowledge of the numbers, and a plan.  Also, the more you are removed from the day to day operations, the more sucessful you will be and the more your business will be worth to a potential buyer. 
      Here's another important reason to get your business to run on its own: A health crisis may leave you sidelined for months or longer, or may even leave you disabled to a point where you cannot perform the necessary duties as a shop owner.  We all have heard of shop owners that either became seriously ill, were in a bad accident or passed away, leaving the business in a state that it cannot run by itself.  Or, not worth much because the shop owner did not take the necessary steps to build the business correctly and not having clean and accurate financials.  
      Begin today to start thinking about your business and when you want to sell, have family take over the business, or other options. Start getting all your financials in order, set your long-term goals, work on your business plan, review and refine all your systems and procedures, and talk to your family about your long-term plans. 
      With each step, you may need help from either an accoutant, broker, attorney, or a business coach. Please don't make the mistake of thinking you can everything on your own. 
      That's it for today- Next week I will discuss The Importance of Having Clean Financials and Showing a Profit
      Thank you and Stay Tuned! 
       
       
       
    • By carmcapriotto
      Hunt Demarest, CPA Paar-Melis. Hunt is Accredited in Business Valuation and a licensed Certified Public Accountant that has been with the firm since 2006. He specializes in business taxes, valuations, and does consult work with our clients all across the country. When he’s not in the office, Hunt enjoys spending time with his family, golfing, working on and racing his cars. Look for Hunt’s other episodes HERE. Brian Bates, the owner of Eagle Automotive Service, 5 locations, bought the neighborhood shop in Columbine Hills back in 2004 as a way to serve the community by offering quality repairs and services while living out his dream of running his own business. Brian has served as a President of the local NAPA Autocare Business Development group, served on the national AutoCare council with the president and directors of NAPA Auto Parts, and is proud of his team’s achievements in becoming an AAA auto repair certified and holding a BBB A+ rating since the inception of the grading system in 2007. Listen to Brian’s previous episodes HERE Joe Hanson owns Gordie’s Garage. Joe has attended Management Success, NAPA training, Lawrence Tech University and most recently he is a member of the RLO 20 Group 13. He has earned his ASE C1: Automobile Service Consultant Certification. Under his father’s leadership, he has seen what it really takes to make a business like this work. Listen to Joe’s Episodes HERE. Key Talking Points
      Value your business before you sell or begin to think about selling- need to figure out value today so that you know what to do to change the value of the business in the future. Find an objective process to value your business before you start talking to a seller.  Use an objective third party to negotiate with buyer and seller- CPA/accountant/business valuators. “Higher than what you want to pay and lower than what you want to sell.” Work together instead of against.  The best tool to evaluate/estimate what a shop is worth- multiple of net income, what does it make at foundation over 3-5 years? Multiply 2.5-3X SDE- seller discretionary earnings, do you add it back in? If the owner is an integral part of the organizaion (owner and service advisor/technician etc) then you can’t justify adding back payroll. Financial forecast- creating a roadmap for bank/SBA, prepare financials, marketing campaigns, write assumptions for expenses The end game isn’t closing on the business, it is succeeding in new business  Know your buyer- price is important but the representation of price is where the value is Key advantages- finding out what motivation of the seller, most time it is about legacy and wellbeing for employees and customers.  Trust and transparency with both parties Take emotion out- need to be in a logical state of mind, you are purchasing and selling an asset Growing after purchasing- as an owner, business, and employees Support during venture- at home, professional network as you go through all the ups and downs. Learn from other people’s successes and failures.  A special thanks to Hunt Demarest, Brian Bates and Joe Hanson for their contribution to the aftermarket. Books Page HERE Listen to all Remarkable Results Radio, For The Record and Town Hall Academy episodes. Facebook   Twitter  LinkedIn   Instagram  Youtube   Email   Mobile Listening APP’s HERE Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE. Buy Carm a Cup of Coffee  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
    • By ASOG Podcast
      ASOG Podcast Ep 48 - Eduardo Trevino on Becoming A Business Owner
    • By carmcapriotto
      Dave Giles has been involved with the automotive, truck and transport and collision industries for over 30 years. He currently holds a Red Seal AST certification in Canada and is also certified HRAI instructor for the delivery and certification for controlled substances in several provinces as week as several other certifications and certificates in each trade involving advance vehicle technology and systems. He is often a guest speaker at several automotive conferences that involve battery electric vehicles and advance vehicle systems such as ADAS and automatous vehicles. His passion is to continue to learn and help find solutions for exciting and sustainable transportation for the future. Dave started ALL EV Canada In 2019 with his partner Jeff Farwell. Their goal was to put affordable electric vehicles on Atlantic Canada roadways. During that time they acquired Pure EV another dealer in PEI. From there they built an incredible growing business with sales and service on electric vehicles. Just recently in July 2021, Steele Auto Group bought out ALL EV adding two more dealers to the 55 family of dealers they already own. In less than a month they have opened 3 more dealer locations for ALL EV by Steele. This was all done during the pandemic of Covid-19. Key Talking Points
      Hedgehog concept- good at one thing and excel at it.  Made the transition to only EV’s and hybrids- also sell EV’s at auction and take in EV’s on trade. 2 locations and 2 dealer lots. Inventory of over 60 EV’s and about 15 Teslas are at 1 location. 6 bays shop for all EV repairs. Customers can shop for vehicles online.  Tesla- service and repair vehicles, purchase parts (VIN number is recorded and the customer will also get a copy of the invoice that part has been purchased for the vehicle, the customer is aware the parts have a markup. Parts are made by others, the aftermarket will get smarter on bringing parts to market. Cross-referencing will slowly start to show Tesla availability), restricted on scan tools access for diagnostics. Not as difficult as people think.  EV educators, not salespeople- more education involved with EV’s with charging, range (buy as much as you can afford), how they work in winter/summer Charging- 98% EV owners have their own homes to charge. Nova Scotia power program- install charger and $250 for next two years credit on account, allows control of charge rates during the night instead of overloading the grid. Fast chargers: 350-400 chargers in NS. One Tesla supercharger with 8 stations. Level 1- outlet charger, slower charge. Level 2 charger around $1000, Level 3- DCFC (direct current fast charging, booster).   Truck towing capacity- nothing beats torc of electric motor, the truck platform for EV- bigger and stores more batteries Website: Allev.ca Thanks to Dave Giles for his contribution to the aftermarket’s premier podcast. Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers. Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP’s HERE Find every podcast episode HERE. Every episode is segmented by Series HERE. Key Word Search HERE. Be socially involved and in touch with the show: Facebook   Twitter   Linked In   Email Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE. Buy me a coffee 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.  The Virtual AAPEX Experience 2020 is in the record books. Virtual AAPEX lived up to presenting leading-technical and business management training from some of the industry’s best and brightest. Now set your sights on the homecoming in Las Vegas in 2021. Mark your calendar now … November 2-4, 2021, AAPEX // Now more than ever. 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/carm
      Click to go to the Podcast on Remarkable Results Radio


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