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While looking for absentee investments, I found a self-storage and Auto repair shop on sale. The purchase price is small and also cash flow is very high to ignore.
But, I am a Software Engineer and I am New to running a Business leave alone an Auto repair. The shop is 2 hrs drive from my home. The owner is ready to provide 2d/week consulting service, and lone other mechanic is ready to work with new owner. Plenty of cash transactions. No computers to log work orders. Specialist in exhaust systems. The mechanic is not insured. Shop and storage has some level of insurance. Small town and original owner ran business from the shop for 33 years. Now wants to retire.
I have plans to modernize the work orders and add cameras for remote tracking. I will have to add one more mechanic, and then trust mechanics and also introduce softwares to increase transparency.
For someone who is interested in Auto repair in general, do you think its good business to run as absentee? I plan to spend few hours at the shop once a week and less frequently later. I am 40 year old, I think right time for me to start a business and get off the corporate world.
Please advice. Appreciate.
By Joe Marconi
Here's a tip I have posted before, but it's worth repeating.
One job that goes unnoticed most of the year is the job of the part's driver. You get part deliveries all day long, every day, all year long. Many times, these part's drivers take all the abuse due to wrong parts, the parts took too long to be delivered, on and on and on. Those drivers may not say anything, but they take it to heart.
So, here's what you are going to do. Buy small gifts, such as small boxes of candy or chocolate. Nothing expensive. During the holidays, give all the drivers one of these small gifts and say "Thank you, I appreciated what you do."
Two things will happen. First, the driver will be stunned and will not know what to say, and they will be very thankful that you thought of them.
The second thing that will happen is this: The very next time those part drivers have three delivers to make at three different shops, what shop do you think they will want to go to first? Yes...Yours!
It seems that Goodyear corporate stores are changing their business model from Tire and Repair Service centers to strictly tires. The franchise stores are free to continue their old business model. Around here, the corporate stores are going to close down on January 27 for 2-3 weeks for a major remodel and possibly? rebranding. They will sell tires and do alignments, but will not be able to align if they need repair parts. I've not seen any official statements on this, so I don't really know more than the scuttlebutt.
It looks like Hunter will have a great year this year as a result. I saw a brand new Hunter Revolution tire machine in one of the local stores already.
I stand to benefit from this change as we may see some of their repair business. Since I don't sell tires, I'm not a Goodyear competitor, which allows them to safely refer repair business to us. Almost everyone else around here sells tires. We refer quite a few folks to tire-only stores, so Goodyear will now be on my referral list.
My name is Karla, I had previously owned a 3-bay mechanical repair shop in Burlington, VT for 6 years and built it to maintain an outstanding reputation and provide a comfortable income. I had the opportunity to sell my half of the business and finalized that deal this past fall. I have worked in all areas of the auto repair industry over the past 15 years, graduated from a two-year ASE certified auto tech program and went on to earn my Bachelor’s in business and a masters degree in executive leadership.
I have some capital I will be contributing to the planning and opening of a new shop and am very open to meeting potential partners/investors in all areas of the country. I greatly look forward to building something new in a location new to me.
Anyway, I’d like to welcome all /any interest and to answer any questions about joining forces in shop planning and management. Please do not hesitate to contact me, thanks for considering!
Hello Everyone! Hope you enjoyed your Thanksgiving as much as I did. I wanted to bring this topic up because of PEP BOYS recent "expansion" into launching their "mobile" service. I was interested in your thoughts. Are mobile mechanics a threat to your shop in any way? What are your thoughts? Do they/can they provide the service that today's cars need?
Or, on the other hand, do you operate as a mobile tech? What are the struggles you face. From what I am hearing, people "seem" to expect mobile to be cheaper.
Only trying to start a discussion about this - and really because, from what I am seeing, there's a lot of buzz around the Pep Boys effort.
Comments? Really interested to know your thoughts.
"The Car Count Fixer"
PS: Join me on YouTube and check out this totally FREE on-line course I'm offers- "How to Double your Car Count in 89 Days!"