Sometimes the best opportunities happen when you’re not even looking for it. Greg Buckley wasn’t searching for a second location, but a gold mine fell on his lap for the taking. The business he purchased was run as a hobby without any records. Find out how and why Greg took on this second location, 85 miles away from his 1st location.
Greg Buckley, owner of https://www.buckleysautocare.com/ (Buckley’s Auto Care) in Wilmington, and Millsboro DE. Greg’s previous episodes https://remarkableresults.biz/?s=%22greg+Buckley%22 (HERE).
Key Talking Points
The second location has 2000 square foot apartment above the shop- 85 miles from the original location
Booming growth in Delaware
“It’s not where the puck is, it’s where the puck is going to be”
Homework- worked for a week with the owners, asked for P and L sheets, taxes etc
3 part deal- 450K for real estate property, 113K for equipment, 227K for goodwill. Hold mortgage for 7 years. Went to the settlement with 40K
No records- customers, parts, work orders are estimates only then disappeared with no final invoice
Paying employees- the pressure is on the owner to provide opportunities for them to succeed
LSD (lower slower Delaware)- adjusting to the different timelines with parts availability and customers have a slower timeframe to get their vehicles back
Challenges- seeing cars with cheap part repairs, introducing DVI’s to customers
ARO- close to 1K
Run your business as a business, not a hobby
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Learn more about NAPA AutoCare and the benefits of being part of the NAPA family by visiting http://www.NAPAAutoCare.com (www.NAPAAutoCare.com)
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