We first introduced them in our June ’96 issue,
and now, it’s time to say good-bye. They’re staying in the business,
but they’re stepping aside to let another pair of shop owners
share their business experiences with us. (We’ll introduce you
to them soon.)

In this final chapter, the Slates look back
on their past two years as shop owners and share with us what
they wouldn’t – and would – do differently if given the chance.

A Look Back …

• We would not change our decision to purchase the body
  shop and to switch careers. Although we both had very good jobs
  working with good companies and friends, we made the right choice
  for us. Since this was the fifth shop we considered purchasing,
  we also feel we bought the right one.

• We would not change our decision to buy an existing
  business. This shop has been here for more than 50 years and enjoys
  a reputation that we could not immediately duplicate. I guess
  this could backfire on a buyer if the shop had a bad reputation,
  but in our case, it didn’t. Another great benefit is that business
  is already in motion. The burden of getting the momentum of business
  flowing was not a problem for us. Our problem was getting ourselves
  to catch up with the business and trying to manage it.

• We would not change getting involved with organizations,
  like SCRS, I-CAR, ASA and the Chamber of Commerce, and associating
  our business with strong suppliers that are active in these groups.
  We’ve benefited immeasurably from this involvement by getting
  to know other local shops and the people who knit our businesses
  together. These people have provided sound advice, as well as
  assisted us in locating good employees.
• We would not change our habit of reading trade publications
  to keep up to date. Paul has subscribed to BodyShop Business for
  many, many years and actually used the 1990 through 1995 annual
  industry profiles to compile data to base our business projections,
  which were submitted to our bank. We need to keep informed about
  our changing industry.

• We would change our decision to try to totally computerize
  a noncomputerized business immediately. It was a good idea to
  shift to computerized estimating, but we tried to convert the
  shop management, accounting, job costing, parts ordering and personnel
  management over all at once. We should have waited to add the
  shop management and accounting software for a later date. This
  would have relieved a lot of stress in trying to implement a new
  system in an already busy shop by two new owners who had never
  even heard of multiple supplements on one job. We had more to
  be concerned about than computerizing our total process.

• Our first year was filled with many learning experiences,
  [along with adjusting] to being entrepreneurs. This business lifestyle
  is completely different than our previous work. In our past jobs,
  we had a sense of security [that we wouldn’t fail.] Now, it’s
  up to us to make things work, without having the luxury of being
  isolated from failure. It’s a very exciting business that we truly
  enjoy [running] together.

BodyShop Business would like to thank the Slates for sharing
the past year of their lives with us. We wish them well!

In an upcoming issue, watch for our next couple, Darrell and Janet
Schroll, shop owners in Kansas who brought their shop back from
near death.