Shownotes
Andrew Marcotte, American Pride Automotive, 5 locations, Virginia.
Melissa Parker, Harrell's Tire and Auto, 6 locations, North Carolina.
Show Notes
- Watch Full Video Episode
- The Peer Review and Transformers Group (00:00:01) Discussion about being at Scruggs Automotive for a peer review with the Transformers group.
- Growing and Expanding the Business (00:02:25) Conversation about the excitement and challenges of expanding the number of locations and the mindset required for growth.
- The importance of retaining high-quality people (00:07:52) Discussion on the goal of retaining high-quality employees and the challenges faced when trying to change the mode of operation in a shop.
- The impact of owner involvement on business value (00:08:28) Exploration of how the level of owner involvement can affect the value of a business and the importance of prioritizing a sellable business.
- The significance of cultural fit in acquisitions (00:09:28) Conversation about the importance of cultural fit when acquiring a new location and the potential consequences of not considering it during the due diligence process.
- The importance of addressing toxic employees (00:16:40) Discusses the negative impact of having a toxic employee in a store and the importance of addressing the issue promptly.
- Hiring for cultural fit and potential (00:17:53) Talks about the shift in hiring philosophy to focus on cultural fit and potential rather than solely valuing work experience.
- Observations and recommendations from store visits (00:20:23) Discusses the process of observing store operations and sharing findings, including the need for consistency across locations and focusing on growth opportunities.
- The virtual service advisor (00:24:48) Discussion about the possibility of hiring a virtual service advisor for a multi-store operation.
- Butcher clean (00:25:43) Explanation of the term "butcher clean" and its relation to having clean books in a business.
- The role of a CXO (00:26:51) Exploration of the concept of a Client Experience Officer (CXO) and the importance of building a consistent customer experience.
- Building relationships and gaining insights (00:33:59) Andrew encourages listeners to build relationships within the industry and learn from other operations to find success.
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