Business Increases for 41 Percent in iATN Poll

A recent poll done by the International Automotive Technicians' Network (iATN) indicates 41.3 percent of members had an increase in business in 2010 compared to 2009. Of the 41.3 percent, 28.7 percent report business increased slightly, while for 12.6 percent, business increased significantly. Business stayed about the same for 18 percent of members.

A recent poll done by the International Automotive Technicians’ Network (iATN), www.iatn.net, indicates 41.3 percent of members had an increase in business in 2010 compared to 2009. Of the 41.3 percent, 28.7 percent report business increased slightly, while for 12.6 percent, business increased significantly. Business stayed about the same for 18 percent of members. The online poll concluded February 2011 with 4,282 votes from iATN members.

The results, when compared with results of the same poll done approximately a year ago, indicate that business continues to improve for many iATN members. In the previous poll, 32.5 percent of members had an increase in business in 2009 compared to 2008.

“While the recent poll results show an upward trend and are very encouraging, they also remind us that 2010, compared to 2009, was still a difficult year for a number of shops,” said Scott Brown, iATN president. Approximately 40.8 percent of iATN members reported business was off in 2010. This number, however, also continues to show a positive trend compared to the same poll a year ago when 53.5 percent of members indicated business was off.

A slightly greater trend toward preventive maintenance and speculation that people are keeping cars longer were among the reasons given for an increase in business. A common reason given for the shop’s decrease in business was its increased cost of doing business.

In a separate poll conducted in early 2010, 67 percent of iATN members predicted an increase in business for 2010. A new iATN poll is underway to determine members’ business expectations for 2011.

iATN was founded in 1995 and is the largest online community of automotive technicians, repair shop owners and other allied service professionals in the world with more than 73,700 active members from 156 countries. iATN members exchange technical knowledge with their peers around the globe, collectively sharing approximately 1.7 million years of experience.

The iATN Mission of Excellence: To promote the continued growth, success and image of the professional automotive technician by providing a forum for the exchange of knowledge and the promotion of education, professionalism and integrity. For additional information about iATN or to join, visit www.iatn.net.

iATN is a registered trademark of the International Automotive Technicians’ Network.

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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