Editor’s Notes: Back in Time

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BodyShop Business - Babcox Media
The information source for the collision repair industry.
Shop Operations

Back in Time

Just the other day, a reader asked me if I remembered a certain article from several years ago and could I get her a copy. Thus was born the Time Machine, where BodyShop Business re-runs an article from its past that is just as useful today as it was years ago.

Jason Stahl
By Jason Stahl
Jason Stahl has 30 years of experience as an editor, and has been editor of BodyShop Business for the past 18 years. He currently is a gold pin member of the Collision Industry Conference. Jason, who hails from Cleveland, Ohio, earned a bachelor of arts degree in English from John Carroll University and started his career in journalism at a weekly newspaper, doing everything from delivering newspapers to selling advertising space to writing articles.
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Have you seen the movie, “Hot Tub Time Machine”? It’s supremely stupid but also supremely funny.

That movie gave me the inspiration for the name of a new feature BodyShop Business has unveiled this month: the “Time Machine.”

Just the other day, a reader asked me if I remembered a certain article from several years ago and could I get her a copy. And she added, “You know, you might consider running that article again because it is just as relevant today as it was then.”

It occurred to me then that I get many calls and emails from readers seeking old articles. Why not run those articles again? First and foremost, they could provide great information. They could also maybe show in some instances (depressingly) how much things haven’t changed. Lastly, they just might provide some good ol’ nostalgia.

So in comes the Time Machine. For this issue, we’ve plucked out an article from our archives that was originally published in the March 2005 issue. The article covered a topic you may be familiar with: steering. In 2005, George W. Bush was president, Mariah Carey’s “We Belong Together” topped the music charts, and yes, steering was a big problem. And as we all know, it still is today! Read and enjoy this article on pg. 62…and feel free to reach out to me to let me know what yesteryear article you’d like to see!

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Management

Exit Strategies: Personal Vision & Financial Planning

The most critical first step in an exit or transition plan is to develop a financial plan and personal vision of what your life will look like post-business.

Matthew Di Francesco
By Matthew Di Francesco
Matt Di Francesco is a financial technician for collision repair professionals and the principal at High Lift Financial. He can be reached at (855) 804-3548 or [email protected].
Published:

Jerry was a 63-year-old auto body shop owner who contacted me regarding putting together an exit strategy. Like most shop owners, he had become tired of the day-to-day grind of dealing with the back-and-forth fights with the insurance carriers, yet he still loved the idea of being a part of a business he built from the ground up. Ideally, he would have liked his production manager, Evan, to become his heir apparent, yet he had no idea if Evan was interested in owning the shop or if he was even capable of doing so. His shop was a prime candidate for a consolidator, and he had received an offer from one, yet he cared about his employees and wanted to make sure they were taken care of. Also, he was unsure what he would do with himself if he did not have a place to go. He did not know where to turn.

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