Quantcast
Jump to content


Recommended Posts

Posted

As co-founder of Schwartz Advisors, Managing Partner Rick Schwartz specializes in working with clients on strategic planning, growth, performance improvement and M&A strategy related to the motor vehicle aftermarket. Rick is a recognized leader in the aftermarket and has a critical eye for what it takes to drive value.  He is the lead Schwartz Advisors partner in support of projects with private equity firms, boards of directors and management teams. Rick is a Trustee of the University of the Aftermarket Foundation and a member of the Auto Care Association Board of Directors. He is a recipient of the prestigious Northwood University Automotive Aftermarket Management Education Award. Prior to starting Schwartz Advisors, Rick held various senior level positions at Nestle, Macy’s and The Upper Deck Company. Rick received an MBA from the University of Southern California Marshall School of Business and a BA in International Relations from USC. Key Talking Points

  • What is going on in overall M&A – not just the aftermarket- Many of the investment bankers are reporting record deal flow. A few key factors driving the abundance of M&A deals- catch up to deals that were put on hold in 2020. Excess “dry powder” (cash)- financial buyers (private equity firms & family offices) had an abundance of capital ready to deploy last year. Potential tax changes- the change in political administrations in the U.S. has caused concern among business owners that the capital gains tax will increase substantially upon exit. Low-interest rates- easier for buyers to finance acquisitions 
  • The aftermarket has slow steady growth- making it appealing to private equity 
  • Business owner- opportunity to cash out and next owner could do a lot to recruit, market, and grow.  
  • Why are some family-owned businesses selling? Timing – it is time to exit, (not related to the economy), competition, diversify personal investments and net worth, concern about changes in the tax code
  • How long will the current M&A activity keep up? Looks like M&A activity will remain very active through the end of this year and into early 2022, perhaps longer. Big changes in tax laws could slow down M&A, but will Congress pass big changes?
  • What is driving M&A in the service sector, from a buyer’s perspective? What are buyers looking for? Growth beyond simple organic growth (i.e., growth beyond same-store sales growth). Acquire businesses before competitors. Buy distribution. 
  • No matter who is selling what preparation is necessary? Even if you are not thinking about selling, be prepared: Documentation in order: 3 years financials, 5 years is better, copies of all contracts/leases. Have your estate plan in order. Hire advisors who can help- hire a lawyer who knows how to do M&A – might not be your regular business lawyer (and don’t bring in a lawyer who might be experienced in other areas but not M&A). Talk to your CPA.
  • Link mentioned for AAPEX Award Nominations HERE.

Carm interview with Rick's dad, Mort Schwartz in episode 332 HERE.

  • Thanks to Rick Schwartz for his contribution to the aftermarket’s premier podcast.
  • Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers.
  • Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP’s HERE
  • Find every podcast episode HERE.
  • Every episode is segmented by Series HERE.
  • Key Word Search HERE.

Be socially involved and in touch with the show: Facebook   Twitter   Linked In   Email Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE. Buy me a coffee This episode is brought to you by AAPEX, the Automotive Aftermarket Products Expo. AAPEX represents the $740 billion global automotive aftermarket industry and has everything you need to stay ahead of the curve.  The Virtual AAPEX Experience 2020 is in the record books. Virtual AAPEX lived up to presenting leading-technical and business management training from some of the industry’s best and brightest. Now set your sights on the homecoming in Las Vegas in 2021. Mark your calendar now … November 2-4, 2021, AAPEX // Now more than ever. Shop-Ware-Call-To-Action-Graphic-v3.png This episode is brought to you by Shop-Ware Shop Management. It’s time to run your business at its fullest potential with the industry’s leading technology. Shop-Ware Shop Management will increase your efficiency with lightning-fast workflows, help your staff capture more sales every day, and create very happy customers who promote your business. Shops running Shop-Ware have More Time and generate More Profit—join them! Schedule a free live demonstration and find out how 30 minutes can transform your shop at getshopware.com/carm ARN-Logo-Wide-Blue-600px-300x84.png

Click to go to the Podcast on Remarkable Results Radio



Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Available Subscriptions

  • Have you checked out Joe's Latest Blog?

         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
  • Similar Topics

    • By carmcapriotto
      Thanks to our Partner, NAPA Autotech
      NAPA Autotech’s team of ASE Master Certified Instructors are conducting over 1,200 classes covering 28 automotive topics. To see a selection, go to napaautotech.com for more details.
      Contact Information
      Email Matt: [email protected] Diagnosing the Aftermarket A - Z YouTube Channel
      Key Highlights:
      Matt reflects on the idea of self-awareness and balance, emphasizing that "everything comes from you" and that we are all part of a larger matrix of experiences and growth.
      Vision Conference Recap:
      Matt shares his experience at the Vision Conference, where he faced a challenging drive through a snowstorm and crosswinds to get there. He highlights the hands-on training sessions he participated in, including: Key Cutting and Programming Class: Co-taught with Andrew Sexton, where attendees got to physically cut keys and program them using a Honda ignition system. Pico Training: A full day of hands-on training with Scott Shotton, focusing on practical, car-side diagnostics. Tech Talks: Featuring Garrett Jacobson (HP Tuners) and Zeb Beard (Thermal Imaging), both of whom delivered high-energy, informative sessions.
      Key Takeaways from Vision:
      HP Tuners: Matt learned new functionalities of the tool, even after using it for over five years. Garrett Jacobson’s class demonstrated how intuitive and powerful the tool can be for diagnostics. Thermal Imaging: Zeb Beard emphasized the importance of using thermal imagers regularly, even when it doesn’t seem immediately necessary. His session focused on diesel diagnostics but applied to all vehicles.
      Personal Reflections and Connections:
      Matt shares heartfelt moments from the conference, including dinners with industry friends like Dan Baumgartner, Matt Hall, Kevin Looney, and others. They reminisced about Harvey Chan, a beloved figure in the industry who passed away too soon, and the impact he had on everyone. Matt reflects on the duality of emotions—being sad about losing someone but happy to share stories and memories.
      Behind-the-Scenes Stories:
      Matt dives into the importance of understanding the "behind-the-scenes" of how things are created, whether it’s a business, a movie scene, or even a professional wrestling match. He shares an iconic wrestling story about Stone Cold Steve Austin and Bret Hart, highlighting how collaboration and trust led to one of the most memorable moments in wrestling history.
      Themes of Authenticity and Sharing Knowledge:
      Matt discusses the tendency in the industry to want to feel "special" or to exaggerate success stories. He emphasizes the importance of being honest about how things are achieved, whether it’s diagnosing a tough problem or building a successful shop. He encourages technicians and shop owners to share their real stories, even if they involve luck or being in the right place at the right time.
      Filling Your Own Bucket:
      Matt reflects on the need for self-validation and filling your own "bucket" rather than constantly seeking external validation. He stresses the importance of being honest with yourself and others, giving credit where it’s due, and taking pride in your work without exaggeration.
      Key Quotes:
      "Set the freaking thermal imager on your diagnostic cart and start using it, even when you don’t know why." "At some point, you’re going to have to fill your own cup. You’re going to have to be content with yourself." "The real stories, if somebody could tell them, didn’t take away from the magic. It’s the art, the craftsmanship, the creativity that’s magical."
      The Aftermarket Radio Network: https://aftermarketradionetwork.com/
      Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/
      Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/
      The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/
      The Aftermarket Radio Network
      Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion
      Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.
      The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.
      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      Thanks to our Partner, NAPA Autotech
      NAPA Autotech’s team of ASE Master Certified Instructors are conducting over 1,200 classes covering 28 automotive topics. To see a selection, go to napaautotech.com for more details.
      Contact Information
      Email Matt: [email protected] Diagnosing the Aftermarket A - Z YouTube Channel


      Key Topics Discussed:
      Blade Runner Monologue Appreciation:
      Matt opens the episode with a reflection on the iconic "tears in rain" monologue from Blade Runner. He shares the behind-the-scenes story of how Rutger Hauer improvised the line, making it one of the most memorable moments in cinema history. Matt expresses his love for behind-the-scenes stories and the genuine, unfiltered insights into success and creativity.
      The Role of Luck in Success:
      Matt discusses the often-overlooked role of luck in achieving success. He references the "iceberg" analogy of success, where hard work, talent, and drive are below the surface, but luck plays a significant role. He emphasizes the importance of giving credit where it’s due and acknowledging the contributions of others.
      Mailbag Questions:
      Do You Believe in Ghosts?: Matt shares his thoughts on ghosts, explaining why he doesn’t believe in them and how he finds the idea more exciting than scary. Fuse Testing: Matt dives into his preferred methods for testing fuses, emphasizing the importance of using a test light with an incandescent bulb and checking for corrosion, especially in rust-prone areas. Loss Leaders in Business: Matt discusses the concept of loss leaders (e.g., free diagnostics, cheap oil changes) as a marketing strategy. He explores the pros and cons, including the risk of devaluing services and setting unrealistic customer expectations. Cell Phones in the Shop: Matt shares his perspective on allowing cell phones in the shop, acknowledging their utility as tools for diagnostics and service information but warning against distractions.
      Upcoming Events and Classes:
      Matt teases his upcoming classes, including a hands-on Pico training session with Scott Shot and a key class with Andrew Sexton. He highlights Tech Talks featuring Garrett Jacobson on HP Tuners as a diagnostic tool and Zeb Beard on diesel diagnostics.
      Key Takeaways:
      Behind-the-Scenes Stories: Matt’s passion for genuine, unfiltered insights into success and creativity shines through, whether discussing Blade Runner or the realities of running a business. The Importance of Evidence-Based Diagnostics: Matt emphasizes the value of using data and evidence to support recommendations, whether in diagnostics or business decisions. Balancing Loss Leaders and Profit: While loss leaders can be an effective marketing tool, they come with risks, including devaluing services and setting unrealistic customer expectations. Cell Phones as Tools, Not Distractions: In the shop, cell phones can be powerful diagnostic tools, but they must be used responsibly to avoid distractions.
      Memorable Quotes:
      "All those moments will be lost in time, like tears in the rain." – Matt reflecting on the Blade Runner monologue. "Luck plays an uncomfortably significant role in success, and people don’t like to hear it, but the data is overwhelming." "If you give away things, you start devaluing them." – On the risks of loss leaders. "Cell phones are step one in us slowly becoming more and more cybernetic."
      Call to Action:
      Check out the Aftermarket Radio Network for more shows on business, marketing, and communication. Attend Matt’s upcoming classes to learn more about diagnostics and tools like Pico and HP Tuners. Share your thoughts: Do you believe in ghosts? What’s your take on loss leaders? Let Matt know on social media or via email.
      Links and Resources:
      NAPA Auto Tech Training Aftermarket Radio Network Blade Runner (1982) – Watch the iconic "tears in rain" scene. HP Tuners – Explore this underutilized diagnostic tool.
      The Aftermarket Radio Network: https://aftermarketradionetwork.com/
      Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/
      Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/
      The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/
      The Aftermarket Radio Network
      Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion
      Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.
      The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.
      Click to go to the Podcast on Remarkable Results Radio
    • By Changing The Industry
      Why Auto Shops Are DITCHING Aftermarket Parts in 2025?
    • By carmcapriotto
      Thanks to our Partner, NAPA Autotech
      NAPA Autotech’s team of ASE Master Certified Instructors are conducting over 1,200 classes covering 28 automotive topics. To see a selection, go to napaautotech.com for more details.
      Contact Information
      Email Matt: [email protected] Diagnosing the Aftermarket A - Z YouTube Channel
      Introduction:
      Fuel trims are a common topic in professional forums, classes, and diagnostics, often leading to bold diagnostic decisions. Matt shares his experience of quickly diagnosing vehicle issues using fuel trims, even before leaving the parking lot.
      Key Challenges in Discussing Fuel Trims:
      The more you learn about fuel trims, the more nuanced and complex the topic becomes. It’s difficult to generalize fuel trim behavior across all vehicles, as each system has unique characteristics. Fuel trims are just one piece of data that must be factored into a broader diagnostic process.
      What Are Fuel Trims?
      Definition: Fuel trims are adjustments made to the base fuel schedule by the engine control unit (ECU). Matt credits Matt Ragsdale on iATN for one of the best explanations he’s seen.
      Two Primary Fuel Systems:
      Speed Density Systems:
      Relies on the Manifold Absolute Pressure (MAP) sensor and engine RPM as primary inputs. Engine control algorithms tend to be more complex.
      Mass Airflow (MAF) Systems:
      Uses the Mass Airflow Sensor (MAF) and crank sensor (RPM) as primary inputs. Simpler in design compared to speed density systems. Modern systems often blend elements of both speed density and MAF systems.
      Closing Thoughts:
      Matt emphasizes the importance of understanding the nuances of fuel trims and how they vary across different vehicle systems. He plans to dive deeper into the topic in future episodes, providing more detailed insights and practical examples.
      The Aftermarket Radio Network: https://aftermarketradionetwork.com/
      Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/
      Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/
      The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/
      The Aftermarket Radio Network
      Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion
      Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.
      The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.
      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      Sometimes life just doesn’t slow down, does it? Between running a business, managing a team, and balancing everything else, it’s easy to feel like you’re drowning in tasks. If that sounds familiar, you’re not alone.
      Hi, I’m Kim Walker, and today I’m sharing my personal journey through a season of overwhelm—and how I’m finding my way back to productivity and peace. This episode isn’t just about getting things done—it’s about giving yourself the grace to start where you are and take small, meaningful steps forward.
      So, take a deep breath, grab a notebook, and let’s get organized—because even in the chaos, we’ve got this
      Thank you to our friends at RepairPal for this episode. RepairPal will introduce your shop to new customers through repairpal.com, the largest site for auto repair. Learn more at RepairPal.com/shops.
      Are you ready to convert clients to members? App fueled specializes in creating custom apps tailored specifically for auto repair businesses. Build client loyalty. Get started today with your own customer loyalty app. Visit Appfueled.com 
      Lagniappe (Books, Links, Other Podcasts, etc)
      Stephen Covey's Time Managment Matrix 
      Remarkable Tablet 
      Time Blocking
      Show Notes with Timestamps
      
      How To Get In Touch
      Group - Auto Repair Marketing Mastermind
      Website - shopmarketingpros.com 
      Facebook - facebook.com/shopmarketingpros 
      Get the Book - shopmarketingpros.com/book
      Instagram - @shopmarketingpros 
      Questions/Ideas - [email protected] 
      Aftermarket Radio Network
      Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion
      Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.
      The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.
      Click to go to the Podcast on Remarkable Results Radio


  • Our Sponsors

×
×
  • Create New...