Cybersecurity For Your Auto Repair Business
Password: fluffy1234. One of our clients asked us to use this for setting up his email, telling us it was the name of his wife’s cat. “Admin” was another client’s request for a username, and he wanted his password to be 1234. Nope! No way, no how! We vigorously refuse to put unsecure passwords in
Working ‘On’ Your Business, Not Just ‘In’ It
Once upon a time, my accountant had to prepare 102 W2s in a single year for my shop. We had so much turnover, dealt with so much chaos and were putting out so many fires that it was impossible for me to contemplate working “on” my business instead of “in” it. So what’s the way out? How can we break the cycle? I’ll come at this problem from two directions, but, truthfully, it comes back to a single principle: we have to focus on results instead of activity.
Case Study: Overcoming Daunting Challenges Selling An Automotive Aftermarket Business
While every transfer of business ownership is unique, unforeseen challenges – in this case, a national business recession that resulted in decreased sales and complicated by environmental and family ownership issues – can cause the selling process to drag on for what seems like forever, to the frustration of all parties involved.
Executive Q&A, Part 1: Art Blumenthal MBA, CBI Nationwide Automotive Aftermarket Business Broker
In the first of a two-part series, we delve deep into the process of selling a business by interviewing Art Blumenthal, nationwide automotive aftermarket business broker, who provides business valuations, exit planning, and buying and selling advisor services.
Hire The Superstars While Building Your Business
One of the most common questions our coaches are asked is, “How do I find the superstar technicians and service advisors?” Interestingly, what most shop owners do is wait until they need a tech or advisor before they start their search. Unfortunately, when they use this technique they inevitably end up hiring the best of whomever happens to be available at the time, rather than the best of the best.
Case Study: Buying And Selling An Auto Service Business – A Look At The Perspectives Of Both Buyer And Seller
I’ve found that every new listing is like a fresh new project. Although the perfect outcome is always a Win:Win situation for both buyer and seller, the backgrounds and experiences of the people involved and the steps to getting there are always different. For example, although many business sales involve a retiring, older owner selling to a younger buyer, here’s one that was just the opposite.
Case Study: Buying And Selling An Automotive Service Business
Jim Torres had owned a prominent auto service center in North Providence, RI, since 1983. Although still in good health and wanting to remain active in the automotive aftermarket in some capacity, he sought retirement from the daily grind of owning and operating a business.
10 Mistakes to Avoid When Selling Your Business, Part 2
The majority of challenges and frustrations experienced by sellers can be avoided with solid information about the pitfalls of selling a business in today’s market. While there are dozens of challenges to overcome, in the January/February 2013 issue the first five most common mistakes were discussed that can have drastic repercussions and cause both stress and loss of value on a business sale.
Executive Interview: Dan Moody, General Manager, MAHLE Aftermarket Business, North America
During his career with MAHLE, Dan Moody has served as project leader of several acquisition projects, including the Dana Engine Parts business and most recently, RTI Technologies. Moody began his career at Sealed Power Corporation (now SPX Corporation). He later served as president for the Dana Sealed Power/Perfect Circle group, and became group vice president of the Dana Engine Products Group before joining the MAHLE Group in 2006. Moody’s extensive experience strengthens MAHLE Clevite Inc. as the premier supplier of engine system components in North America and a leading supplier of filters to the import aftermarket.
Can Your Auto Repair Business Run Without You?
I received a distressing email the other day from a fellow shop owner. The shop owner stated in his email that he was scheduled for surgery the next day, and asked if I knew of a tech who was looking for temporary work. He went on to say that his other tech (a full-time police officer), works at his shop between shifts, and with him out of commission due to surgery, he will need help in the shop. This shop owner fills in when the tech is working at his other job. This shop owner has been in business for more than 25 years and is well into his 50s. What’s wrong with this picture?