By Pierre Desmarchais, Business Coach, Trainer and Speaker
I wouldn’t be far off if I said that, for as long as I’ve been in this industry—and it’s been a while—rumours predicting the apocalypse have surfaced every 10 to 12 years. Yet, as far as I can tell, there are still plenty of vehicles on the road.
Most of these predictions are based on evolving technologies, the growing complexity of mechanical systems, and the lack of interest among younger generations in taking on such a massive challenge. But that’s a whole other conversation.
I have to admit that when I talk with reps who are out in the field, I hear the same thing over and over: “Last year, two shops closed, and I think the land will end up as condos… no one wanted to buy it.”
Have you ever seen someone sell a business because it was too profitable? However, if a business has averaged returns of 2.5% to 4% over the past five to seven years, it becomes far less attractive as an investment. On the flip side, at least there wasn’t much tax to pay…
The real reasons, in no particular order, are:
• Burnout
The shop is in disarray, paperwork isn’t up to date, sales reps keep interrupting, and technicians aren’t reliable—ready to leave for an extra dollar an hour…
• Poor Business Management
Numbers aren’t really my thing—the accountant handles that. The cheques clear, so things must be fine. How much does it cost just to open the shop in the morning? It’s expensive, I can tell you that…
• Lack of Administrative Succession
This one is less obvious. Even when things are going well, having no one to take over is not a good sign. In my view, it’s even more critical than the shortage of technical labour.
• Resistance to Change
“You don’t change a winning formula!” The point isn’t to change it, but to adapt it to evolving realities. Some remain stuck in outdated paradigms.
Remember: if your business is the way it is, it’s because you are the way you are. If you want it to change, you have to change.
What you’re comfortable doing—you’re already doing. To go further, you need to push past psychological inertia, think outside the box, and reignite your willingness to adapt.
“Progress is impossible without change,
and those who cannot change their minds
cannot change anything.”
— George Bernard Shaw (1856–1950)
Food for thought.
Picture and text credit : Pierre Desmarchais
