[Podcast] Partnerships [RR 503]

[carmcapriotto]

Mark Roberts is the owner of Roberts Properties, Inc, Managing Partner of Total True Automotive dba Schertz Auto Service, Craftsman Building and Renovation LLC. He is also partnered with a Local Custom Home builder. Mark is also the former owner of Auto Collision Works. He grew up in Schertz and has been a resident since 1969.

Mark also serves on the Board of Directors of Guadalupe Valley Electric Cooperative, Guadalupe Valley Home Services Corporation, and the Guadalupe Valley Economic Development Corporation. Listen to Mark’s previous episodes HERE.

John Long started to gain more interest in vehicles and just after his 21st birthday, he accepted a position working at National Tire & Battery as a service advisor. He knew nothing about tires or vehicle systems and how they worked, but he learned as much as he could.

In 2005, John and his wife decided it was time for a move. He arrived in San Antonio late on a Friday night after driving 24 hours straight and interviewed with Mark Roberts on Saturday morning. Mark hired John, and for the next several years he helped grow the new mechanical repair shop business. Listen to John’s previous episodes HERE.

Key Talking points:

• Mark Roberts has plans to grow via partnerships
• It has been beneficial for all parties
• Mark worked in a collision business and he was told by the owner that he would never partner with anyone, even his children unless they purchased it
• Mark wanted to create an opportunity for David and John to own a business; to be his partners
• Succession planning was not in his thoughts when he did this
• They discovered their compatibility when they started to read Rocket Fuel. (see books page) 
• Agreements and buy-sell.Will not deal with ex-wives
• Passing on, the shares come back to company and wife gets bought out
• Another consideration is incapacitation. They don’t have this clarified yet
• All partners need to be protected. Too many lives at stake
• It was tough for Mark to walk out of the shop and not be involved in the day to day
• When they buy Mark out they may sell a portion of the business to additional partners
• Consider different levels of responsibility in a partnership agreement
• Partnerships are not for everyone
• Many potential partners really don’t know what owners do. You have to plan on grooming, training and coaching them. Pay for the classes they need to learn to be a CEO
• Mark does a wheel of life once a month with his partners

Resources:

• Thanks to Mark Roberts and John Long for their contribution to the aftermarket’s premier podcast.
• Link to the ‘BOOKS‘ page highlighting all books discussed in the podcast library HERE. Leaders are readers.
• Leave me an honest review on iTunes. Your ratings and reviews really help and I read each one of them.
• Love what we do, buy a cup of coffee HERE.

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