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How To Get Buyer For Your Shop Real Estate
I knew nothing about commercial real estate. I had never leased or sold any before 2015 when I leased our shop. When it came time to sell in 2020, I didn’t have a clue. I was forced to sell when the buyer of my business and leaseholder skipped out on a 10-year lease after only…
10 Rules For Selling Your Transmission Shop (or any shop for that matter)
These are the rules I followed to sell our shop. TEN COMMANDMENTS FOR SELLING YOUR TRANSMISSION REPAIR SHOP 1. Value Your Shop Appropriately (and in this Business, Value is Based on Cash Flow) You must be realistic about valuing your shop. Sources state that 70% of all businesses for sale never sell, which is probably due to…
Don’t Focus On Parts – Focus On Labor
Let’s face it, with Amazon, RockAuto, and all the rest of them, we may not see the same part margin that we got five, six years ago. So I tell my clients don’t worry too much about parts now, because it’s all about labor. As an example, many of us do Toyota and Nissan, Subaru..…
Common Service Advisor Myths
Common Service Myths There are a few myths out there that simply will not die. The reason they won’t die is because these myths are used as excuses by those who do not want to work, and instead want to cruise along on the road of mediocrity that leads to nowhere. Myth One: “We can’t…
To the Loser Go the Spoils
Losing sucks. It doesn’t matter if you’ve lost a sports competition, a job to another applicant, or a promotion that you truly believed you earned; it sucks to lose. Rejection is losing, too. You know, like when you ask someone to dinner and they politely decline. It is particularly hard to watch others lose, especially when you were…
Success or Struggle: Are You Inspired or Stuck?
Success or Struggle: Are You Inspired or Stuck? By Chasidy Rae Sisk In the auto repair industry, it’s common for one shop to struggle to keep up with their workload, while a shop down the street struggles to keep the lights on. Maylan Newton of Educational Seminars Institute (ESI), addressed this dichotomy on Jan. 12th…
When You Gamble with Your Time, You Chose Your Destiny
The year 2021 will be the year of the individual. The individual will define their destiny and the individual will gamble their time wisely. If we have learned anything at all in 2020, it is that our time is precious. Working from home, required us to manage our time with a personal responsibility many had never experienced…
Licensing? Employee Appearance? Choosing Management Software? – AUDIO 60 Minutes
Unscripted. Unrestrained. Unplugged. We cover Licensing, Employee Appearance, Choosing Management Software, and a lot more. This is going to be fun – c’mon along! Click here to listen on Google Click here for more options
The Right to Repair Law – Don’t Let Vehicle Manufacturers Move the Goalposts
Moving the goalposts is a sports metaphor that means to change how a goal can be scored while the game is still in progress to give one side an advantage or disadvantage. Vehicle manufacturers are seeking to move the goalposts placing consumers and independent repair facilities at a disadvantage by lobbying against the Right to Repair…
Predicting an Unprecedented 65% Drop In Total Vehicle Miles Traveled in U.S.
Predicting an Unprecedented 65% Drop In Total Vehicle Miles Traveled in U.S. for March 2020 – How Automotive Services Are Impacted As the COVID-19 pandemic hit U.S. soil early this year and as states went into shelter-in-place, many businesses implemented a work-from-home policy. Non-essential travel was discouraged by local towns, cities, and states. Additionally, the…