Euro Motorcars announced that it has just moved its certified collision center to Gaithersburg, Md., from Rockville, Md.
The new facility is 53,000 square feet with an aluminum bay, truck booth and a full service department. The new facility will also house the accounting department for all three of Euro Motorcars’ dealerships in the area.
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.
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.
Today’s collision repairers are challenged with a new set of concerns, one being the need to follow OEM repair procedures.
CARSTAR Jacobus Founder Jerry Jacobus and son Dave share a passion for collision repair and also model railroading.
In a perfect world, every repairer would make the right decisions in every repair, but we don’t live in a perfect world.
We talk so much about how much collision repair is changing, but so is the world of media!
VIVE Collision has announced the promotion of Stephen Kohut to vice president of operations.
For the new year, it’s important to conduct a thorough audit of your finances to look for areas of opportunity and things to change.
The good news for shops that want to sell but do not fit a consolidator’s
profile is that there is a fresh pool of new buyers.
So you want to provide safe and properly repair vehicles to your customers … even at a financial loss?
