Acquiring Minds Rolling Up EBITDA and Rents with Auto Repair Shops
Jun 3, 2024
Experts Stephen Quindlen and Paul Westhart share insights on acquiring auto repair shops, employee benefits, SBA loans, real estate acquisition strategies, and the challenges in managing multiple shops. They discuss their successful venture in the Mountain West and recruiting workers from California to Idaho, offering valuable tips for entrepreneurs looking to enter unconventional industries.
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COVID Sparks Entrepreneurial Leap
- Paul pitched Stephen the idea of buying a business using SBA loans during COVID.
- Stephen's bias for action accelerated their pivot from corporate jobs to entrepreneurship.
EV Tailwind to Auto Repair Roll-up
- The EV transition won't drastically reduce auto repair demand soon.
- Rolling up allows capital to adopt new tech, absorbing competitors who can't pivot.
Boost Value by Operational Excellence
- Professionalize shops with management systems to double throughput.
- Adjust labor rates to market levels to boost revenues immediately upon acquisition.