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Posted

Hello to everyone from Memphis, Tennessee! Elvis says "hey"....

 

I am not only new to the site, I am also a new non-mechanic shop owner. I recently partnered with a high school buddy who basically channels automotive expertise. He has about 30 years of experience, most of which lies with Mercedes-Benz and BMW's. Our shop will be specifically marketed to these two makes of car. We've invested about $100k in the shop but, to be honest, are about $50,000 short of where we need to be.

 

Where his expertise lies in the technical end of the enterprise, I am the business end. I have a finance background and am pretty analytical, so we are definitely the Odd Couple. I happen to own the building in which our shop is located (not debt free unfortunately). It actually includes about 46,000 sf of space, although the shop currently takes up a 5,000 sf bay and currently has two lifts.. We are considering using some of the remaining space for climate-controlled vehicle storage. If anyone has thoughts on this, fire away. I've researched this quite a bit but sure welcome any first-hand knowledge. I also have plenty of secure outside storage for RV's, boats etc.

 

I have been so impressed with the knowledge represented by the members thus far and find the entire site to be invaluable. Even though I have confidence in my own experience and abilities, I realize how much i have to learn about the automotive business. I remember my school teachers saying "There's no such thing as a dumb question." If this statement does not apply here, someone better let me know pretty quick; I have a lot of them lined up already....

 

I look forward to corresponding with everyone!

 

Rob

Posted

Welcome to the site from a fellow TN member :) Middle TN here. Look forward to hearing from your business expertise. It takes both mechanical and business sense to run a good shop. You guys will do good.

Posted

Welcome! How much demand is their for climate controlled vehicle storage?

 

That is a great question, and i frankly don't know the answer yet. The target market is primarily car collectors who are intent on storing their vehicles in a secure environment. Other prospects are owners of restored classics. In my research on this, I have been floored by the number of car fanatics who own 10 or more vehicles. I have also talked to several local collectors who own 20 to 40 cars, including a local guy who acquired the Mustang driven by James Earl Ray. These folks are not the target for me, however, because they generally have the wherewithal to acquire their own building. Our target is the guy whose eyes are bigger than his stomach, ie, he's bought 5 or six cars and they are either cluttering up his driveway or he's storing them in a self storage place. There is a certainty to the idea, however, and that is that collectors are dedicated to keeping that car in good shape.

 

But here is the side benefit: we all know that a valuable vehicle, whether a Ferrari or restored '57 Chevy, cannot sit fallow. so, as a service, we will provide regular maintenance for stored vehicles to keep them from deteriorating. For a monthly fee, we can start the engine or drive the car, keep it detailed, change fluids, or even do some engine work. We can also arrange for folks to pick up their car if they want to drive it on a nice day. When they bring it back, we'll put it back into storage for them.

 

I think there's a need for it...I just don't know how deep it is and how much folks will be willing to pay.

Posted

Rob, I want to welcome you AutoShopOwner.com and wish you the best of luck. I appreciate the kind words and I can agree that there is a wealth of knowledge on the forums. So ask away, we are all eager to help one another.

 

Joe

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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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