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.
By Jay Huh
Saw a Tesla the other day at the mall with it completely stripped down.
Has tires with tie rods connected to the steering column and a self contained motor at the rear.
No oil, no spark plugs, no moving components.... everything electronic.... NOTHING to replace but tires and possibly brakes every 100,000 miles.
Is this the future? How long, in 20 years? 15 years? I'm 30 and I think I will be good by the time I retire but a completely different story for the next generation. Gotta think too, as we start transitioning over, there will be less and less work for the numerous number of automotive shops out there. Just in my shopping center alone, there are 5 major shops and 1 more across the street. In our 5 mile radius, there has got to be more than 20
By Framingham Auto Service
I had very high hopes for the beginning of 2017, taking in consideration that we finished the year very strong, and had a very good January.
But it seems that the ground had open it and swallowed all the business......
How about you guys, how are you doing?
By Mail Shark
After speaking to a number of Euro & Specialty shops recently about executing targeted direct mail campaigns, I’ve realized there isn’t a clear understanding from the shop owners perspective about the capabilities and source of targeted auto lists. I hope to add some transparency to the subject here.
1. What type of targeted auto data is available?
Below is a list of 6 categories available to select specific vehicles to target, with the top 3 being the most widely used. I have also attached a sample report that illustrates an example of data from a list that was run by make, model & year.
4. Fuel Type
5. Auto Class
6. Auto Style
2. Where does this information come from?
This seems to be the point of the most confusion. Targeted auto data is NOT available from any DMV. This is due to what is called the Shelby Act AKA Data Access Act. You can google Shelby Act and read a plethora of information about it on google.
Since the DMV does not release this data, the actual data that is available is compiled using multiple sources. The following list includes the primary sources of where this data is derived from. This list includes but is not limited to:
1. Co-Registration: When someone goes to specific auto service businesses for example, they take down the vin number and car info and then sell this info the list compilers. That is just one example. Over 90% of lists will come from service industries that report the vin info. Info is lacking on new models because they didn’t go to a service provider that releases the data.
2. Responder info: Someone who fills out form from a magazine, surveys, or forms they filled out somewhere, etc.
3. Online insurance quotes
4. Warranty Companies
5. Transactional data: If the consumer has purchased something for their car such as a stereo or running boards, etc.
6. Major Car Clubs of America.
7. Aftermarket Repair Companies
3. Questions to ask your direct mail &/Or List provider before purchasing a targeted vehicle mailing list.
1. Is your list triple verified? This means your list must have come from and have been verified by three sources in order for the record to be included.
2. Is your list NCOA’d? To NCOA a list means to utilize the post office data to validate that the recipient’s name matches their current address. This ensures that the owners of the vehicles haven't moved and are in fact located at the address confirmed.
3. Is your List Shelby compliant?
In summation, I can tell you first hand that not all list providers are created equal. I have personally vetted over 10 of the top list vendors to choose our resource for targeted lists. Therefore, my strong recommendation is to do your research, ask all of the questions listed above and get a list count from more than one vendor to compare.
I hope this helps and if there are any questions, please let message me.
Executive Vice President of Sales
Email: [email protected]
Targeted List Example.xls