Quantcast
Jump to content









Recommended Posts

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

  • Like 1
Link to comment
Share on other sites

  • 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.

Link to comment
Share on other sites

  • 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!

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Have you checked out Joe's Latest Blog?

         3 comments
      Got your attention? Good. The truth is, there is no such thing as the perfect technician pay plan. There are countless ways to create any pay plan. I’ve heard all the claims and opinions, and to be honest, it’s getting a little frustrating. Claims that an hourly paid pay plan cannot motivate. That flat rate is the only way to truly get the most production from your technicians. And then there’s the hybrid performance-based pay plan that many claim is the best.
      At a recent industry event, a shop owner from the Midwest boasted about his flat-rate techs and insisted that this pay plan should be adopted by all shops across the country. When I informed him that in states like New York, you cannot pay flat-rate, he was shocked. “Then how do you motivate your techs” he asked me.
      I remember the day in 1986 when I hired the best technician who ever worked for me in my 41 years as an automotive shop owner. We’ll call him Hal. When Hal reviewed my pay plan for him, and the incentive bonus document, he stared at it for a minute, looked up, and said, “Joe, this looks good, but here’s what I want.” He then wrote on top of the document the weekly salary he wanted. It was a BIG number. He went on to say, “Joe, I need to take home a certain amount of money. I have a home, a wife, two kids, and my Harly Davidson. I will work hard and produce for you. I don’t need an incentive bonus to do my work.” And he did, for the next 30 years, until the day he retired.
      Everyone is entitled to their opinion. So, here’s mine. Money is a motivator, but not the only motivator, and not the best motivator either. We have all heard this scenario, “She quit ABC Auto Center, to get a job at XYZ Auto Repair, and she’s making less money now at XYZ!” We all know that people don’t leave companies, they leave the people they work for or work with.
      With all this said, I do believe that an incentive-based pay plan can work. However, I also believe that a technician must be paid a very good base wage that is commensurate with their ability, experience, and certifications. I also believe that in addition to money, there needs to be a great benefits package. But the icing on the cake in any pay plan is the culture, mission, and vision of the company, which takes strong leadership. And let’s not forget that motivation also comes from praise, recognition, respect, and when technicians know that their work matters.
      Rather than looking for that elusive perfect pay plan, sit down with your technician. Find out what motivates them. What their goals are. Why do they get out of bed in the morning? When you tie their goals with your goals, you will have one powerful pay plan.
  • Similar Topics

    • By Joe Marconi

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • By Joe Marconi

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • By carmcapriotto
      Recorded Live at MACS (Mobile Air Climate Systems) 2024 Training Event & Trade Show, Adam Kimmel discusses the refrigerant and thermal management industry. He highlights the significance of air conditioning technology in vehicles, the essential use of fluorine in refrigerants, and the evolution of refrigerants for environmental safety. Adam Kimmel, Koura, [email protected] Show Notes
      The importance of air conditioning (00:00:01) Discussing the significance of air conditioning in vehicles and homes and the commitment of industry professionals. Understanding fluorine in refrigerants (00:01:53) Evolution of refrigerants (00:05:16) Future challenges and developments (00:10:19) Regulations and alternatives (00:14:18) Safety and handling precautions (00:16:10) Engineer training and transparency (00:17:11) Understanding refrigerant nomenclature (00:19:47) Efficiency and GWP (00:25:38) Thanks to our Partners, AAPEX and NAPA TRACS Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections            
      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      What if there's a fire in your shop? An oil spill? A natural disaster or God forbid, a death? How do you prepare for that? Well, This week, Hunt talks about preparing for the unexpected:
      Vision Expo: Hunt shares experiences and insights from attending the Vision Expo in Kansas City, emphasizing the importance of community and industry events. Importance of Preparedness: The significance of being ready for unforeseen incidents, such as theft or natural disasters, affecting auto repair shops. Insights from Roundtable Discussions and Classes: Valuable lessons from discussions and classes, including managing risks and implementing preventive measures. Understanding Insurance Coverages: The necessity of comprehending what business insurance covers, identifying coverage gaps, and making sure you have comprehensive protection. Preventive Measures Against Risks: Steps to minimize risks associated with fires, accidents, and other potential threats to auto repair shops. Contingency Planning: The need for having a solid contingency plan to tackle unexpected situations effectively. Financial Readiness and Strategic Planning: Emphasizes the role of financial preparedness and strategic planning in fostering long-term success and stability for auto repair shop owners.  
      Thanks to our partners, NAPA TRACS and Promotive
       
      Did you know that NAPA TRACS has onsite training plus six days a week support?
      It all starts when a local representative meets with you to learn about your business and how you run it.  After all, it's your shop, so it's your choice.
      Let us prove to you that Tracs is the single best shop management system in the business.  Find NAPA TRACS on the Web at NAPATRACS.com
      It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
      Paar Melis and Associates – Accountants Specializing in Automotive Repair
      Visit us Online: www.paarmelis.com
      Email Hunt: [email protected]
      Get a copy of my Book: Download Here
      Aftermarket Radio Network
      Click to go to the Podcast on Remarkable Results Radio
    • By Joe Marconi

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.



  • Similar Tagged Content

  • Our Sponsors



×
×
  • Create New...