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I'm hoping some experts can help me out.  I'm buying an existing full-service shop and need to polish a transition business plan not only for my lender and partners, but also to help give us some focus and direction.  I'm certainly not coming into this empty handed, but would love to see what others might have used so I can be as successful as possible.  HELP!

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Hi Ken! I don't call myself an expert - but been around auto service/repair for the better part of 30 years. I re-read your question a few times, but still not sure of what you're looking for or how I can help you. I don't think I need to walk you through a business plan outline - there's a ton of that on-line and you've probably done it before - but I think that your biggest focus is to retain that customer list. I know, I know, everyone want to talk about assets like equipment and all that - but if you really think about it - nothing matters without the customers. 

Now, you don't mention if this is a "going concern" type of shop - meaning its already got X number of techs and ongoing customers - or if it's operating under a banner or franchise. But with that said, being an "existing full-service shop" (your words) I would think there's customers. Just remember that those customers built a relationship with the existing owners - not YOU.

So now, if you're a lender or partner - the only thing they're looking at (in reality) is how they're going to get their money back. Having borrowed millions for business investment, I know if you want their money - you have to show them how they're going to get it back. With that said, the ONLY source of revenue (cash) that business has it customers - and more you can show your plan to retain those customers - while building more - will be the key to getting funding.  Make sense? 

Let me know if you have any specific questions. You're welcome to message me on this forum, reply here or whatever. Hope this helps!

Matthew Lee
"The Car Count Fixer"

P.S.: Join me on YouTube at Car Count Hackers - Grow your Car Count, Income & Profits

 

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  • Have you checked out Joe's Latest Blog?

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      Maintaining adequate production levels is the responsibility of management to create the processes that will lead to high production while holding everyone accountable. 
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