Common Challenges to Running an Automotive Business
Don't worry, we all struggle with it.
You want to protect your legacy, but operating an automotive business in today's day and age has become more and more challenging. You're probably dealing with the same issues we did many years ago, like:
- Good Profit Margins Require Buying Power
- Supply costs, payroll/wages, IT expenses, competitive pricing
- Handcuffed to the Business
- Hard to take vacations and really "check out"
- Stability is hard to come by nowadays
- Hiring and keeping good talent, virus/hacking risks, systems crashing, external support lines
- Support For Successor is Key to Legacies
- Don't hand off the same problems you encountered without a lifeline
Primary Succession Options
We looked at all of these too.
There are options, but they come with trade-offs. For example. you could:
- Invest Significantly
- Build out an entire central staffing team, including legal, finance/accounting, real estate, marketing, logistics, etc. etc.
- Build even more infrastructure, including IT systems, CRM, loyalty, warehouse management, equipment upgrades, etc.
- Sellout to Private Equity or Large Corporation
- Cash out, but damages customer reputation and employee loyalty (my legacy)
- Franchise with Large Corporation
- Loss of control, overly expensive, limited added value and attention
Tire Discounters has already chosen to Significantly Invest
We built out extensive "in-house" infrastructure across finance, real estate, legal, purchasing, marketing, IT software and hardware, human resources, sales and field management, business analytics, training, and many more.
As a result, Tire Discounters has Buying Power, a Diverse and Skilled Team that is deep and agile, Stability, and a robust team of experts prepared to Support the Next Generation.
So what does that mean for you?
3 options to protect your legacy with Tire Discounters.
- Option 1: Sell Real Estate and Business
- Retire with peace of mind.
- Pass along your legacy to USA's largest 100% family-owned and operated tire dealer.
- Legacy preserved - Kick back in peace.
- Your customers remain cared for by family business.
- Retire with peace of mind.
- Option 2: Sell the Business, Keep the Real Estate
- Make money with less effort by banking monthly rental income.
- Hold real estate and receive a long-term rental income.
- Make money with less effort by banking monthly rental income.
- Option 3: Franchise with Tire Discounters and Gain an Army
- Still manage or own, with support.
- Leverage our buying power and systems.
- Franchise with USA's largest 100% family-owned and operated tire dealer.
- Still manage or own, with support.