Opinion | Commentary

  • There are many important factors to consider when negotiating a business purchase or sale in addition to price. These are four of the more common ones we see when helping clients manage transactions in the collision repair industry.
    Brad Mewes
  • There are things you can do to that may increase your multiple like building scale or investing in training and technology. But in general, the primary way to increase the value of your business is to improve your financials. Here are 5 simple ways to increase the value of your business.
    Brad Mewes
  • One of the first things we do when working with clients (helping them sell or helping them expand) is to perform a business valuation. Valuations are important because they set a baseline. It answers the question ‘what is my business worth?"
    Brad Mewes
  • But strength in numbers may not necessarily equate to an enhanced overall customer experience. 
    Michael Giarrizzo
  • Insurance providers and vehicle owners have increasing expectations for excellent service, rapid repairs and low costs. The result is additional investments in process and procedures like lean, 6 sigma and kaizen.
    Brad Mewes
  • I certainly believe that increasing technological complexity fundamentally changes the industry. And, depending on your inclination and your time horizon, it can either be seen as a huge opportunity or a huge threat.
    Brad Mewes
  • There are 3 main areas I see that will continue to impact the industry: technology, consolidation, and monetary policy, i.e. the Fed. Here are 3 collision industry predictions for 2016.
    Brad Mewes
  • Because of the everyday personal relationship I have with the industry, I find myself constantly evaluating the industry's ongoing progress and the many outside resources that help to create an improved customer experience that enhances the overall perception of our business.
    Michael Giarrizzo
  • Following major companies in the automotive aftermarket segment helps give industry consultant Brad Mewes a better look at market trends and insight into the drivers of profitability.
    Brad Mewes
  • Consolidation in the collision industry continues to march forward at an astounding pace. The largest companies in the industry continue to aggressively grow through acquisitions, or by buying existing collision repair operators. 
    Brad Mewes
  • There is a lot of opportunity for entrepreneurial business owners at present. But looking ahead, we also see some headwinds that can change the market dynamics.
    Brad Mewes
  • Relying on the MacGyver bucket is telltale of a repair process that wasn't planned out correctly from the start. And because of that, your tech is now scrambling to meet the pressure of on-time delivery. 
    Michael Giarrizzo
  • Financing equipment or facility upgrades is commonplace in many industries. While many of us were raised with the notion that debt is bad, the reality is that debt is simply one tool of business finance when prudently used. A core tenant of corporate finance is that the liabilities of the firm ought to match the assets of the firm. 
    Brad Mewes
  • I often ask business owners, paint and body technicians, customer service representatives, estimators and other members of the team the following important question: “Why is there never enough time to do the job right the first time; however, there is always time to go back and do it again?” 
    Mike Jones
  • Regardless of what stage of your career you are in, others’ experiences can lead to valuable knowledge for continued growth and success.
    searchautoparts
  • Responses to early career injuries were creative but not always ideal.
    searchautoparts
  • A common misconception is that organic growth is less risky and less costly than inorganic growth. But as humans we are actually inherently bad at assessing risk. Referred to as probability neglect, we assume that common activities we engage in are inherently safer and less risky than less uncommon activities.
    Brad Mewes
  • When considering growth by acquisition, a lot of time is spent identifying and quantifying synergies. Synergies are advantages that come about through the integration of two companies that, individually, the two companies would be unable to achieve. There are three common types of synergies: revenue, cost, and financial.
    Brad Mewes
  • I do not believe that .25 percent increase will materially change the M&A market, in the automotive industry, or otherwise. The reality is that most businesses do not collapse because of a .25 percent change in lending rates.
    Brad Mewes
  • One of my early lessons was that on occasion you might need to “fire” a customer. I’ve personally only done it once, and it became somewhat of an epic story.
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