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Hi all, 

First time poster and glad to be here.

I'm a 40 something entrepreneur not currently in the auto repair business but I've been exploring shop ownership for several years.

Unfortunately, I've come up short using traditional business brokers to find a shop worth purchasing. To date, all that I've looked at have been overpriced and/or have some serious issues.

As shop owners and managers, do you have any tips for finding a solid, well-run general auto repair shop (EBITDA/SDE of $250k-$2MM) to acquire?

I would be grateful for any insights.

Thanks,

Mike

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  • 1 month later...
On 5/25/2020 at 2:16 PM, spanner said:

All, Thanks for the tips and offers.

I'm focused finding a shop in Central Texas for the foreseeable future.

The journey continues!

 

 

Any luck? Buy a piece of property in a good area and put up a steel building! Hire some good techs and build it from scratch. Build where and how you want for the long term and own the property.

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  • 1 month later...

In today's economy, my choice would be finding the shop owner looking to retire or get out of the business. I understand your review of EBITDA, but if you can, go for the list. The money is ALWAYS in the list. 

Hope that helps!

Matthew
"The Car Count Fixer"

P.S.: How a shop owner generated an extra $22,470 in the middle of a lockdown!

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  • Have you checked out Joe's Latest 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.
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