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Old 01-08-2014, 11:09 PM   #1
klenzer
Scooby Newbie
 
Member#: 348281
Join Date: Feb 2013
Chapter/Region: VIC
Location: Vancouver
Vehicle:
93 Impreza 120hp!!
white w. black WRC decals

Default Wonder if I can get some insights into the auto mechanic industry here...

Hey guys, wondering if any of you work in the auto mechanic industry in Vancouver and can give me some feedback as to it's current state?

I'm looking at investing in a decent sized and well established auto shop here (nowhere near Dales! ) - I bring both significant cash and extensive marketing background to the table and while I love cars, I don't know a ton about the current state of the industry or the business itself. As part of my research I'm reaching out everywhere I can to see if I can get some front line recce before moving a dime or making an offer.

If anyone here can give me any thoughts, positive or negative, I'd greatly appreciate any insights. The amount of cash is significant enough that I could open my own shop and own all of it (not that I have the time to) - but on the other hand this one is large, fully functional and has a decent client base.

Thanks in advance.
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Old 01-09-2014, 11:42 AM   #2
rs420
surf ninja
Moderator
 
Member#: 157784
Join Date: Aug 2007
Chapter/Region: VIC
Location: victoria baby
Vehicle:
02 swapped bugeye
anthricite

Default

The numbers never lie. If you have looked at the books, and financially it is profitable and well run (ie: low overhead, low cost of employee wages, etc..) then it potentially has the ability to make you money.

The things I would do if I were potentially interested in buying an established shop is find out what their reputation is, if they are well liked in the community, or if they have good location for visibility and ease of access. Convenience is key, and you will loose customers just for not having adequate parking or easy to find directions.

I also find (as ive worked in the service industry so long) when I go to a shop, I like to sit and listen. Fade into the background and watch/listen to how the people interact with customer, other employees, or on the phone.
If you get good vibes from that, meet the techs in the shop. If you cant trust them to do a quality job, your business will suffer.

These are all things Id do before potentially making an offer.

Starting your own shop would be nice, but the hardest thing is to stay afloat while trying to make a name for yourself and establishing why your better to deal with than joe down the street. The startup costs would also put you down quite a ways for generating profit and you might have to focus lots of money on advertising or giving deals to drive people through the door.

Hope that gives you a couple ideas, Im sure there is more to buying a shop, but those are all things Id look at.
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Old 01-10-2014, 01:20 AM   #3
klenzer
Scooby Newbie
 
Member#: 348281
Join Date: Feb 2013
Chapter/Region: VIC
Location: Vancouver
Vehicle:
93 Impreza 120hp!!
white w. black WRC decals

Default

Props to the gentlemen who spent an hour on the phone with me going over the industry in amazing detail. Will leave your name off this but you know who you are.
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