Every shop operator reading this column at one time or another overcame that same fear when they started their own business. All of you encountered that moment when you realized running a body shop was worth the risk.
This month marks a beginning of sorts for me into completely uncharted waters. For years I've wanted to take the leap into real estate – buying an investment rather than simply a shelter for myself and my family. As I write this I'm preparing to close on a three bedroom, 1.5 bath ranch-style home that needs some TLC – several coats of new paint, new kitchen cabinets, new carpet and flooring, landscaping.... The list is rather daunting. The idea is to flip it quickly, ideally having it fixed up and ready for resale in four to six weeks. It's a plan that has kept me awake nights, worrying about everything from a second mortgage to new hostas.
I've done nothing more than listen to the advice of others and read up on the process for years. A lack of knowledge certainly held me back, but I think fear of failing, more than anything else, left me hesitant to take that final step. Nobody wants to fail at anything, and sometimes that paralyzes us, even when common sense and desire are telling us to take a chance. I have no idea if the six-week project will get done on time, and no idea if the money I'm investing will find its way back into my bank account. Ultimately the move had to be made to end any "what-if" scenarios in my mind ten years down the road.
Every shop owner reading this column at one time or another overcame that same fear when they started their own business. All of you encountered that moment when you realized running a body shop was worth the risk. You believed in your ability to properly run a profitable shop (otherwise you wouldn't have done it). You had enough business savvy to take out a loan and to sink your hard earned resources into "a diamond in the rough." And most importantly, you knew how to fix cars and you trusted that knowledge.
Why do I bring all this up? It seems lately fear is wreaking havoc on collision repair shop owners. So much change, so quickly appears to have unsettled the masses. Changes in direct repair programs, pushes to shrink the marketplace, changes in repair processes and new technologies – all of these items and more are playing out at warp speed. There's no doubt the collision repair industry of tomorrow won't be the same as the one of today.
All this change, though, has rattled the confidence of great shop owners who may not recall why they got into this business in the first place. Where's your swagger? Where's that gumption that helped you overcome that fear and pushed you to operate your own business?
You know what it takes to properly return a car to pre-crash condition. You've been doing it for years, so keep doing it. Take a step back and view your business as any new buyer would. This is the same thing you did years ago when you invested in your shop, so do it again. Decide what needs fixing and go about your daily routine finding solutions to those problems. And don't let fear of losing business force you into making decisions that are bad for your business. If that means turning down jobs where you're being forced to cut unreasonable corners, so be it. If that means tougher negotiations with insurers over reimbursements or DRP guidelines, go for it. In the long run, you and your business will be better for it.
About the Author
Michael Willins
Mike has been involved in the automotive industry since 1997. He was formerly Publisher and Editor-in-Chief of Automotive Body Repair News. In 2005, under Mike's direction ABRN won the Advanstar Communications "Magazine of the Year Award." Prior to that he was senior editor of Aftermarket Business. With Mike's help Aftermarket Business earned the 2004 Gold Key Award as Publication of the Year given out by the Association of Automotive Publication Editors.