Tire Industry Insights: Have You Been Asked to Sell Your Tire Shop?

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Tire Industry Insights: Have You Been Asked to Sell Your Tire Shop?

Over the years, increasing numbers of tire and service retailers have been approached about selling their businesses. But just how many?

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By Steve Schroeder
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asked to sell your business tire shop

Behind the headlines of mergers and acquisitions driving trends of industry consolidation is a simple question asked by one group to another:

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“Do you want to sell your business?”

Over the years, increasing numbers of tire and service retailers have been approached about selling their businesses. While it may seem that a large number of tire dealers are being bought out by bigger companies, our most recent research shows that roughly only two of 10 tire and service retailers have actually been approached by a national or regional chain interested in buying them.

Tire industry tire dealers asked to sell business

MORE: Take a look at Tire Review’s October 2018 Digital Edition

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Tire Industry Labor Shortage: Improve This to Keep Employees

I’ve spoken to many representatives from manufacturers, wholesalers and retailers who report that techs, counter people, drivers and even white-collar team members have walked off the job, failed to report, or given notice, and their businesses have been impacted by these departures. This isn’t just a tire industry issue—and goes beyond the tech shortage that

Phillip Kane
By Phillip Kane
After beginning his career as a paperboy, Phillip Kane went on to spend more than 25 years in some of the best-known automotive, industrial, consumer durables, distribution and banking businesses in the world. Currently, Phillip is CEO and Managing Partner of Grace Ocean, LLC a boutique advisory firm located in northeast Ohio serving clients ranging from Fortune 500 corporations to mid-market private-equity-backed firms. Phillip also acts as a Senior Advisor to Stout Risius Ross and Rothschild & Co, where he brings operational expertise to their investment banking businesses. Previously he was the Chief Commercial Officer in Key Markets at Pirelli in Milan, Italy working in their commercial truck tire business. Prior to Pirelli, Phillip spent 11 years working for the Goodyear Tire & Rubber Company. Before that, Phillip held executive roles with Genuine Parts Company (NAPA) and Snap-On, Inc. He is the author of the book, The Not So Subtle Art of Caring: Letters on Leadership from John Hunt Publishing, London. He is a contributor to Inc. Magazine and Tire Review writing on leadership issues and topics relevant to the trade and currently lives in Akron, Ohio, the rubber capital of the world.
Published:
Tire Industry-Labor Shortage-Great-Resignation

I’ve spoken to many representatives from manufacturers, wholesalers and retailers who report that techs, counter people, drivers and even white-collar team members have walked off the job, failed to report, or given notice, and their businesses have been impacted by these departures. This isn’t just a tire industry issue—and goes beyond the tech shortage that has plagued the industry for decades.

Read Full Article

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