A digital version of the April/May issue of TechShop is now available online.
Click here
to access the easy-to-view digital version that features articles on
Cylinder Pressure Waveform Analysis, Air Compressors, Code P0340 and
more.
Plus, take a chance at winning $50 in our latest Guess the Tool contest.
See what the country’s top technicians are ranking as their Top 5 Favorite Tools, and then send yours in as well. You could win a $25 Bass Pro Shops gift card.
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.
I remember my boss complaining that electronic ignition was going to destroy our business back in the mid-’70s. “They are taking away our tune up business,” he would say. In some ways, he was right. Technology and change are things we can’t control. In fact, “change” is perhaps the one thing we can count on. And, as in life, it’s how we deal with change that matters.
Believe it or not, price advertising is a good thing. I am sure you will agree, everyone likes to find a good value, and price advertising lets people in your community know that you are looking for ways to help them save money. The problem most shop owners come across is that they’re unsure of exactly how to price advertise.
The Automotive Training Managers Council (ATMC) has issued a call for entries for the 2014 National Excellence in Training Awards. The annual program is designed to highlight the importance of training to the success of the transportation industry by honoring highly effective or innovative training programs. The awards are open to any person or entity providing training in the industry.
From ASA comes word that CARS this year “is not your father’s Oldsmobile.” This year’s CARS will be held July 30-Aug. 2 in Detroit and, for the first time, the focus will be on younger techs. Each program at CARS this year has been handpicked with an eye toward making your shop better, said Donny Seyfer, chairman-elect of the Automotive Service Association, which sponsors CARS.
Attendees of the Global Automotive Aftermarket Symposium’s (GAAS) 2014 Connected conference were engaged in a range of high-level topics affecting the automotive aftermarket now and in the future.
