Five Ways You Haven’t Thought of to Increase the Value of Your Business
As a collision repair business owner, you understand the importance of staying competitive in a crowded market. One of the best ways to stay ahead is to increase the value of your business. Not only does this help you stand out from other businesses, but it can also help you attract potential buyers if you […]
Episode 73: How a Financial Assessment Process Works – Part 8: Income Needs, Funding, Incentive Planning, and Asset Protection
Last year, I was a guest on the Virtual U.S. Financial Advisors podcast where I talked about my financial assessment process. We’ve divided the episode into 8 parts and today I’ll be sharing with you the last of the series. In this episode, I completed the financial assessment process that we go through without […]
Evaluating Successors of a Collision Repair Shop
The collision repair industry is rapidly growing, making it critical for shop owners to plan for the future of their businesses. According to Vantage Market Research, the automotive collision repair market will grow from 187.2 billion in 2021 to 209.6 billion in 2028. Succession and transition plans are essential for identifying potential successors and […]
Episode 72 – Finding Life After Business with Larry Dragan
A smart and effective transition plan for a family business is critical for its future and should be taken seriously. That is why getting the necessary help from professionals is important for anyone who is thinking about transitioning their family business to the next generation. Because a well-thought-out transition plan is not just about preserving […]
The 3 Tools You Need For Business Exit Planning
As a collision repair shop owner, you have dedicated your time, money, and energy to building a successful business. But what happens when you’re ready to move on from it? It would be best if you had a solid exit plan in place to ensure that you can maximize the value of your business and […]
Episode 71 – How a Financial Assessment Process Works Part 7: Questions to Ask When You’re Looking For a Financial Advisor
We’re now down to the last 2 parts of this series, where I talked about my financial assessment process as a guest on the Virtual U.S. Financial Advisors podcast. In this episode, I shared my insights on what financial advisors do and how to determine the right advisor for your specific needs. In this episode, […]
5 Ways to Keep Your Best Collision Repair Technicians
A cohesive team of employees is essential for any successful collision repair shop. From understanding the importance of hiring experienced technicians and investing in staff training to involving your staff in decision-making and recognizing their hard work, there are many ways to create an environment where your employees can thrive. An engaged and enthusiastic […]
Episode 70 – Developing Strong Leaders with Bruce Schronce
People are the power engines of business success and growth. That’s why managing “people problems” should be seen as a necessary part of developing a successful business. What makes a strong leader is someone who understands the dynamics among people, can motivate and enable team members, define roles, look at external factors that may affect […]
Transitioning Out of Your Business: DIY vs. Hiring a CExP
Transitioning out of your collision repair business can be a complex process. For business owners, ensuring a smooth transition takes time and resources. The process includes selling the business, transferring ownership, finding new staff to take over operations, and other essential tasks that need to be taken care of before you leave. When transitioning out […]
Episode 69 – How a Financial Assessment Process Works Part 6: How to Continue Your Business Without a Family to Take Over
Several months ago, I was a guest on the Virtual U.S. Financial Advisors podcast, where I shared details of my financial assessment process. We have divided this episode into 8 parts which we shared with you over the past few weeks. In the 6th installment of this eight-part series, I shared my insights on what […]
