Babcox Media, parent of Tire Review, operates a research unit, which recently polled independent repair shops (not tire dealers necessarily) on a couple of basic questions:
• What are your biggest concerns regarding your business over the next 12 months?
• What advice would you give to someone thinking about opening a repair shop?
The answers given to the first, by and large, hovered over the same themes:
• Government supporting chains and big business – nothing for small business
• Remaining profitable and exploring new product lines and services
• Too much government regulation
• Will we be able to afford special equipment?
• Keeping quality help and keeping them trained
• Trying to sell it; not enough profit; lack of qualified mechanics to hire; lease security
• Improve sales
• Keeping customers happy
• Planning to buy more car lifts and alignment tools and equipment
• Keeping up with tech info and changes in cars
• That the economy improves for everyone
• Taxes, insurance, utilities, tooling and schooling
• Lack of work
• Survival in the current economy
When these shop owners were asked what advice they would offer someone looking to get into the business, the answer was nearly universal:
• Think twice and then don’t
• Be ready to work 70+ hours/week for the first decade
• Look for other types of business
• Don’t do it
• Do your homework
• Think again
• Be properly capitalized
• Think three times
• Have common sense and excessive patience
• Make sure to have five years of expenses in bank
• Forget about it unless you have money to burn
Now, this is what owners of smaller independent repair shops have to say. What say you, tire dealers? What keeps you up at night? And what advice would you offer someone looking to open a tire store?
Post your responses here!
