Automotive & HD Business Management Articles.
Bob Greenwood. June 6, 2012. ( over 6 years ago ) 736 views
The business model of operating a typical independent shop today is totally broken! The aftermarket of today MUST execute the beginnings of a succession plan in writing—this year—realizing a proper succession plan takes 4-7 years for a shop to be in a position to provide a proper “buy-out” to the current generation.
The NEXT generation must get positioned “today” to allow them to be fully and properly engaged for the future opportunities right around the corner. If current owners are not thinking like this now, then they have and are setting themselves up for incredible financial disappointment. This is reality.
The next generation owner will truly be a “position” within the company, as the average independent shop must move from 5 bays to 8-12 bay operations. It will be a true profession to operate a shop as well as work within an independent shop. The Trade days are over… along with a “Job” mentality. The “Career” days are here as a lifetime Profession at one business is now available.
The next generation realizes education will be a constant within the business. All staff and management will attend regular business and technical courses being performed during the daytime within the workweek instructed by the next generation educators.
The Aftermarket must set an urgency to get succession in place with the next generation. That means full business education as to what to do and what internal shop processes to instill within the operation to ensure success, must be priority one followed up with building staff competency, not only from a technical level, but also from a cultural level.
It’s important for every level of the Aftermarket to broadcast this message, including the school system in each province!
Too many people in the aftermarket are shrugging their shoulders and passing this off as a “Yeh Yeh”. This attitude MUST CHANGE and this topic must come to the surface for action.
If you’re a person working within the Aftermarket today who feels the next generation does not have to be addressed so urgently or seriously NOW with an actual written action plan in place by the end of this year, then I submit to you that you live in the KODAK world… KODAK would not accept that the consumer has moved on to a digital photography world over chemical technology. The result of that management arrogance: Kodak is bankrupt today!!