By Nevil Jay
I'm currently looking into a business acquisition. It's a wheel repair shop based in South California. I have questions in terms of profitability and also, the expenses involved within the business.
I have profit and loss statements of the business. They currently operate 24/7 and have 30-35 employees. I am looking for someone who has experience in this sector that may be able to give me some unbiased advice. I also wanted to somehow come up with a valuation of the business. It operates out of a leased building, but consistently profits the owner a large amount of money. Who should I look for to verify these numbers? Will any CPA be able to understand?
Thanks in advance,
By Joe Marconi
If you have a repair shop business in New York State that you are looking to sell, please let me know. I will keep this strictly confidential. Criteria required, shops with 6 plus bays. Other details to be explained. Please email me: [email protected]
Hello Everyone! Hope you enjoyed your Thanksgiving as much as I did. I wanted to bring this topic up because of PEP BOYS recent "expansion" into launching their "mobile" service. I was interested in your thoughts. Are mobile mechanics a threat to your shop in any way? What are your thoughts? Do they/can they provide the service that today's cars need?
Or, on the other hand, do you operate as a mobile tech? What are the struggles you face. From what I am hearing, people "seem" to expect mobile to be cheaper.
Only trying to start a discussion about this - and really because, from what I am seeing, there's a lot of buzz around the Pep Boys effort.
Comments? Really interested to know your thoughts.
"The Car Count Fixer"
PS: Join me on YouTube and check out this totally FREE on-line course I'm offers- "How to Double your Car Count in 89 Days!"
By Joe Marconi
The aftermath of the great recession, which caused many new car dealers to go out of business, has resulted in a new breed of dealers. They have come to realize that the lower margins on new cars, combined with the intense competition, means that their service and parts departments must become primary profit centers. Which also means that they need more customers beyond the warranty period …. and that means they want your customers.
Ten years ago, I laughed at the attempts of the local dealers to try to steal my customers...but no longer.
Smart dealers have 4 primary strategies:
1. Offer free oil changes, - some for life, some of a specific time period - And setting up the first oil change service at the time of the sale
2. Wrap future maintenance plans into the monthly payment
3. Sell maintenance plans at the time of the sale
4. Use recalls as a way to sell services and repairs.
What are you doing to fight these strategies?
WOW. I'm finally launching my "winter project". I have created a fully online auto repair training course. I (as a shop owner) was amazed at the lack of training options that my employees could take while working full time. The course lays out the "basics" that I found myself teaching these guys every time I had a new hire with little experience. If you know anyone who could benefit from this, boy would I appreciate you sharing this! Or, if you as a shop need some training for new employees, maybe this could help you. I'm not trying to use this forum as a "sales platform", but I am very excited to see what hapens with this idea. Again, any help / feedback would be greatly appreciated. You guys are awesome to listen to! Here is the link: www.autorepairuniversity.com
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