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https://youtu.be/VTp_2k2_Cuc Greg Bunch is the owner of Aspen Auto Clinic, a five-location automotive and service business in Colorado. Greg started his passion for cars at 15 when he began rebuilding a 1966 Volkswagen Bug. Greg has moved from a Volkswagen mechanic to ASE Master Technician, to Management, to starting his shop 18 years ago in his garage, to an award-winning multi-location business. Greg is currently a board member for the STEM-based charter school call “Automotive Institute of Science & Technology” and on the Advisory board of Ratchet and Wrench Magazine. Greg is also a board member of the Autocare organization and a certified instructor for the Worldpac Training Institute and Carquest Technical Institute. Greg’s unwavering passion for the industry has also led him to form a company called Transformers Institute, a coaching and training company dedicated to transforming the automotive industry. Listen to Greg’s previous episodes https://remarkableresults.biz/?s=Greg+Bunch (HERE). Transformers Institute https://www.transformersinstitute.com/ (HERE). Dwayne Myers is a partner in Dynamic Automotive in the greater Maryland area. Dwayne invests time in the industry with the Auto Care Association and serves on the education committee with CCPN (Car Care Professional Network). Dwayne was recently honored as one of only 17 outstanding individuals that qualified for the prestigious 2017 World Class Technician Award presented by The Auto Care Association and ASE. He is very passionate about hiring and sustaining a strong and engaged team. Listen to Dwayne’s previous episodes https://remarkableresults.biz/?s=%22Dwayne%20Myers%22 (HERE). Doug Grills from AutoStream Car Care Center is a chain of FIVE family-owned, automotive service facilities that deliver honest and professional automotive repair and maintenance services to customers in the Greater Baltimore/Washington, DC area. Doug along with his partner Rick Levitan has been around the service station business for over 25 years and have built their reputation by offering best-in-class service to their customers. All AutoStrem Car Care technicians are ASE Certified and the shops are AAA approved. Listen to Doug’s previous episodes https://remarkableresults.biz/?s=%22Doug%20Grills%22 (HERE). Key Talking Points: Don’t fall in love with an opportunityA magazine survey a few years ago: 56% of shop owners wanted to be out of business by 2020. They are shopping their business Disciplines to haveLocation, Location, LocationDo your research, internet search on demographics, traffic count Cash is King Team, People If you don’t have strong systems and processes don’t even consider growing to another location Standard Operating Procedures (SOP) are required to scaleWritten and documentedWriting it down forces you to understand it and know how it works. Perpetually tweaked Each operation should engage with the customer the same way and operate the same way Watch the movie ‘The Founder’ all about Ray Kroc from McDonald’s Watch the TV show ‘The Profit’ all about People, Process and Product A diamond in the rough could entice youLong time business You feel strongly you can turn it around. The Potential with new energy and perspective Strong location and business that is not keeping up You know your strategy, systems, processes and people will work in the marketplace If the owner is the reason for the business and he/she leaves this could impact your diamond Everyone wants $1,000,000 for their business but the numbers must substantiate it. It is an emotional life work valueThe seller needs to show you how they came up with $1MAn emotional issue What is your cash flow Strenght in the fundamentals of the business Come to common ground Understand the multiple or blue sky value (premium above cash flow) You must have good financial statements Make sure your business can function without you and be profitableNo vacation