ETI’s Well-Attended 2014 ToolTech Deemed To Be A Spirited Event

The Equipment and Tool Institute (ETI)’s
annual ToolTech conference, held April 28 through May 1, provided an opportunity
to attend industry-focused presentations, participate in panel discussions and
take away valuable insights into the “Connected Vehicle” — this year’s
conference theme.

The conference drew more than 130
professionals from more than 40 companies and four major automotive industry
associations to the Fairmont Sonoma Mission Inn in Sonoma, Calif.

At the organization’s business meeting
and opening session, reports were given by Charlie Gorman, ETI executive
manager; Jessie Korosec, ETI meeting and event manager; and Tim Morgan, ETI’s
vice president, marketing. Gorman updated attendees with information about his
meetings and correspondence with OEMs; Korosec provided an

ETI marketing report; and Morgan
discussed the group’s Collision Repair Market Survey, reminding the tool
manufacturers in attendance that scan tools and wheel alignment equipment are
being purchased by collision repair shops every day. “We are all in the
collision business,” Morgan said.

NASTF Executive Director Skip Potter
presented an annual update to tool-makers attending ToolTech, focusing on the
three most significant elements for NASTF in 2014: an increase in industry
outreach, changes in NASTF’s board of directors and its committees, and changes
in the funding of NASTF operations. Potter said the group is reaching out to
the entire industry to become a partner of NASTF. For more information, go to nastf.org.

ToolTech featured in-depth presentations
on telematics specifications and legislation; social media, collision repair
and OEM training as well as lively panel discussions featuring technicians and
vehicle manufacturer representatives. All of these presentations are available
on ETI’s website, www.etools.org.

Association members were given the
opportunity to present their new products to the press and engage in private
one-on-one meetings with individuals and companies of interest. And, there was
plenty of time for networking during the event’s opening reception and the
closing dinner, which were held at two of Sonoma Valley’s fine wineries.

“ToolTech 2014 was one of the
best-attended and most informative events ETI has put on,” said Korosec. “The
speakers were outstanding and the information relayed was very valuable to our
members, as were the many networking opportunities. Once again, the discussion
groups were a success and the company showcase was an excellent platform to
highlight products and services.”

Next year’s ToolTech will be in Austin,
Texas.

Equipment and Tool Institute Announces
2014-’15 Officers and New Directors

ETI announces the new officers and board
members on their election to office for 2014-’15.

Officers (one-year term):
President – Neil Davis (Snap-on
Diagnostics)
Vice President, Programs – Tim Morgan
(Spanesi Americas Inc.)Vice President, Marketing – Bob Holland
(Chief Automotive Technologies)

Secretary/Treasurer – Brian Herron (Drew
Technologies)
Immediate Past President – Ben Johnson
(Mitchell 1)

Directors:
Nominees for a three-year term on the
Board of Directors:
Robert Vogt (IOSiX)
John Heist (STAR EnviroTech)
Kevin Fitzpatrick (Autologic)

Nominee for a two-year term on the Board
of Directors:
Pete Richardson (Car-O-Liner)

Remaining Board Members (not up for
election) are:
Term expiring in 2015-’16
David Rich (Innova Electronics) (Technical Director)
Dennis Keane (Bosch Service Solutions)
Kathy Kedzior (Mahle Clevite)

Term Expiring in 2016-’17:
Greg Potter (DG Technologies)
Jim Fish (Bosch Automotive Service
Solutions)

When Your Shop Is Worth Much More Than You Thought

Although every sale of a shop in which I am involved has its own unique set of circumstances, which makes my job both very interesting and very challenging, Cowden Automotive stands out as particularly memorable because I was able to demonstrate to the long-time owner, Paul Cowden, that his business was worth about three times what he had initially thought.

Case Study: Owner of San Francisco-based Import Service Shop Delighted to Discover Just How Valuable His Business is to Qualified Buyers
I sometimes share case studies of the clients I have been able to assist in my role as an aftermarket business broker and provider of intermediary and advisory services. I do that when I think the story will provide a reader in similar circumstances with new insights or helpful information.
In the case of Cowden Automotive, Inc., I acted in a consulting capacity assisting the owner and his broker in valuing the business, creating a marketing plan, finding a qualified buyer, and arranging financing for the sale.
Although every sale of a shop in which I am involved has its own unique set of circumstances, which makes my job both very interesting and very challenging, Cowden Automotive stands out as particularly memorable because I was able to demonstrate to the long-time owner, Paul Cowden, that his business was worth about three times what he had initially thought.
Needless to say, delivering that kind of good news to a shop owner is a rewarding experience. Discovering that the sale of his business would result in his retirement nest-egg being substantially larger than he had ever thought was a fitting tribute to someone who had spent his entire working career as a busy automotive service shop owner.

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