Gain Traction By cover art

Gain Traction

By: Neal Maier and Mike Edge
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  • Summary

  • The Gain Traction podcast features top automotive entrepreneurs and experts and shares their inspiring stories.
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Episodes
  • Ownership, Acquisitions, and Mergers With Tommy Gaynor and Chris Garman of Sun Auto Tire & Service

    Ownership, Acquisitions, and Mergers With Tommy Gaynor and Chris Garman of Sun Auto Tire & Service
    Jul 24 2024
    Chris Garman, Vice President of Business Development at Sun Auto Tire & Service, built up his family's auto service business from three to nine stores before selling to Sun Auto in 2019. He leads the company's mergers and acquisitions, significantly expanding its footprint. Tommy Gaynor, Director of Mergers and Acquisitions at Sun Auto, joined the company after acquiring his family's successful auto repair shops. With a history in 20 groups and a deep understanding of the industry, Tommy works closely with Chris to grow Sun Auto across various markets. Together, they share a passion for auto service excellence and helping business owners transition smoothly through acquisition. In this episode… Are you an auto service business owner mulling over an exit strategy but wondering if you're "big enough" for acquisition? Is there a strategy that guarantees the continuity of your legacy and provides growth opportunities for your team? Could you envision a future where your hard work pays off for everyone involved? According to Tommy Gaynor and Chris Garman of Sun Auto Tire & Service, there are significant opportunities for owners of single stores and small chains to sell their businesses to larger companies like Sun Auto. They emphasize that while major acquisitions often make headlines, they are equally interested in purchasing individual stores or smaller groups, especially if they have strong teams. Chris and Tommy stress the importance of having an exit strategy and encourage owners to start thinking about preparing their businesses for sale well in advance, even if they're not ready to sell immediately. They also highlight the value of retaining existing teams during acquisitions, viewing the employees as a crucial asset. On this episode of Gain Traction, Chris and Tommy join host Mike Edge to delve into the intriguing world of business acquisitions within the auto service industry. They discuss their journeys from running family-owned shops to becoming drivers of Sun Auto's dynamic expansion, helping owners navigate the exit process. With a people-first strategy and a track record of employee growth and retention, Chris and Tommy highlight the win-win scenarios they strive to create in every deal. Here’s a glimpse of what you’ll learn: [1:49] The origin stories of Chris Garman and Tommy Gaynor in the auto service industry[4:37] The process of selling an auto service business to Sun Auto[5:17] Chris Garman's transition from architecture management to leading a family auto business and beyond[8:13] The internal culture of Sun Auto and its approach to business acquisitions[10:48] Why showing gratitude and appreciation can pivot your business culture[19:22] How Sun Auto views the private equity sponsorship's role in company growth[22:45] The value of quality over quantity in acquisitions[29:00] An important experience that changed the way Tommy did business Resources mentioned in this episode: Chris Garman on LinkedInTommy Gaynor on LinkedInSun Auto Tire & ServiceMike Edge on LinkedInTread Partners Websites: treadpartners.comtractionsummit.com Quotable Moments: "We're just trying to build a great company, and that's the bottom line." - Chris Garman"You can raise the attitude with gratitude." - Tommy Gaynor"All of our managers, all of our tenured service advisors, all the master technicians, all still work there." - Tommy Gaynor"The biggest thing they get is opportunity." - Chris Garman"The people that work for them are super valuable; they understand that they've put great people in great positions to be successful." - Chris Garman Action Steps: Develop Your Exit Strategy Early: Reflect on your current business and create a roadmap for future transitions. It's important to plan ahead; knowing your endgame ensures continuity and opens opportunities for your team. Create a Culture of Gratitude: Integrate genuine appreciation into your leadership style to foster a positive environment. Demonstrating gratitude consistently has proven to enhance team morale and productivity, as highlighted by Tommy's example. Embrace Opportunities for Learning: Always assume you can learn from others and provide learning opportunities for your Staff. By acknowledging that everyone has something to teach us, we promote an atmosphere of continuous improvement and expertise sharing. Equip Your Team for Growth: Place people in positions where they can succeed and grow with the company. Investing in talent development leads to higher employee retention and a resilient business model, as seen at Sun Auto. Build Strong Industry Relations: Maintain good relationships with peers and competitors in your field. Networking and sharing insights, as Chris and Tommy practiced through their 20 groups, can lead to mutually beneficial opportunities. Sponsor for this episode... This episode is brought to you by Tread Partners. At Tread Partners, we provide digital marketing for multi-location tire dealers and auto repair shops. By ...
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    35 mins
  • Driving Innovation: From a Steel Worker’s Son to an Industry Leader With Mike Graber of Toyo Tires

    Driving Innovation: From a Steel Worker’s Son to an Industry Leader With Mike Graber of Toyo Tires
    Jul 11 2024
    Mike Graber is the President and CEO of Toyo Tires, a role he has embraced with vigor since joining the company in 2013. With a foundation in truck part sales and an eight-year tenure in various roles at Michelin, Mike's experience spans across the industry from sales to product development. In addition to a passionate commitment to product quality and customer engagement, Mike’s leadership reflects his belief in the significant role genuine relationships and people play in the success of the tire industry. In this episode… Have you ever considered how the leaders in the tire industry keep their wheels spinning in the right direction? The right blend of leadership, innovation, and community engagement can turn any company into an industry powerhouse. But how does one navigate the intricate paths that lead to success in such a competitive market? Seasoned tire industry professional Mike Graber of Toyo Tires explores the heart of what makes a leader effective in the tire industry. Highlighting Toyo Tire's reputation for high-quality products, Mike shares key strategies for customer re-engagement, emphasizing the role of a passionate team in fostering a high-energy corporate environment. With a career encompassing various roles, his story is a blueprint for embracing change and leveraging partnerships to enhance brand visibility. In this episode of Gain Traction, Mike Edge chats with Mike Graber, the President and CEO of Toyo Tires, about nurturing leadership and growing a quality-centric brand. Mike provides an insider's look into Toyo Tire’s approach to innovation, such as developing an EV tire and enhancing wet traction performance. He also delves into the value of humbly learning from industry role models, balancing a genuine management style, and the symbolic parallels between golfing and leadership. Here’s a glimpse of what you’ll learn: [4:26] Mike Graber’s fascinating background and rise to leadership in the tire industry[7:53] The significance of people and sincerity in the tire industry's success and innovation[14:14] How Toyo Tires builds its high-energy environment and cultivates customer loyalty[17:40] Insight into Toyo Tires' passionate community culture and impactful social media strategies[21:30] How partnerships, like the one with UFC, enhance brand loyalty and showcase products[28:02] The importance of authenticity in leadership and the pursuit of personal interests for growth Resources mentioned in this episode: Mike Graber on LinkedIn Toyo Tires Mike Edge on LinkedInTread PartnersRobert “Sonny” McDonald on LinkedInStan Chen on LinkedIn Companies: Michelin Websites: SEMA Quotable Moments: "It's not just about the tires; it's the people behind them that drive our success.""Returning to Toyo was like coming back home — the industry's genuineness was always the draw for me.""We're not just selling tires; we're building a community, a brotherhood among our customers.""Innovation is key, but without a passionate team, the wheels don't turn as smoothly.""Golf has taught me life lessons that I apply to my leadership style — strategy over power, always." Action Steps: Engage with your customer base on a personal level: Mike's success with Toyo highlights how genuine customer interaction can improve brand loyalty.Innovate continuously to meet emerging market needs: Toyo's development of new products, like an EV tire, demonstrates the importance of staying ahead in technology trends.Encourage a company culture of passion and teamwork: Toyo's energetic environment at SEMA is a testament to the effectiveness of a collaborative and enthusiastic team.Build strategic partnerships to expand brand visibility: The partnership with UFC underscores the power of well-aligned collaborations for broader exposure.Cultivate both leadership abilities and personal interests: Mike's approach to authentic leadership and embracing hobbies, like golf, points to the need for a well-rounded personal and professional life. Sponsor for this episode... This episode is brought to you by Tread Partners. At Tread Partners, we provide digital marketing for multi-location tire dealers and auto repair shops. By using our strategy, branding, and marketing services, we help shops sell more tires and put more cars in bays. We’ve helped companies like Action Gator Tire, Colony Tire and Service, and Ulmer’s Auto Care Center bring extreme growth in paid leads, ROI, and searches. So, what are you waiting for? Visit www.treadpartners.com or email info@treadpartners.com to learn more.
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    34 mins
  • From Family Business to Tire Titans With Joe and John Inchiostro of St. Louis Wholesale Tire

    From Family Business to Tire Titans With Joe and John Inchiostro of St. Louis Wholesale Tire
    Jun 20 2024
    Joe Inchiostro is the Owner and CEO of St. Louis Wholesale Tire. His cousin, John Inchiostro, is Operations Manager. The company is renowned for providing hard-to-find tires and other specialty products in the automotive industry. Their fathers founded St. Louis Wholesale Tire, which started in their living room and eventually grew into an enterprise serving a national customer base. Together, Joe and John have expanded the company's offerings, introducing their own AIRLOC brand inner tubes and positioning St. Louis Wholesale Tire as a silent partner to wholesalers needing unique tire solutions. In this episode… The story of St. Louis Wholesale Tire is a true testament to the American dream; two brothers steered their business from brokering tires out of their father's living room to leading a tire industry empire. How did these two brothers manage to create a culture that prioritizes people over profits, fostering a sense of belonging that transcends the boundaries of a traditional workplace? According to cousins Joe and John Inchiostro, the secret to St. Louis Wholesale Tire's success lies in the unbreakable bond between the founders and their commitment to treating employees like family. From the very beginning, their fathers — who are the founding brothers — instilled a philosophy of putting relationships first, understanding that money comes and goes, but the connections they forge are invaluable. This mindset permeates every aspect of the business, creating an environment where employees feel supported and valued. Whether it's accommodating family emergencies or celebrating personal milestones, the company's leadership recognizes that a happy and fulfilled workforce is the key to long-term prosperity. In this episode of Gain Traction, Joe and John talk with host Mike Edge about the evolution and modernization of the family tire business. They reveal how they managed to reinvent their business repeatedly to stay ahead of market trends. The cousins emphasize relationships over profits, exceptional service, and the unique products that set them apart. They discuss their approach to customer service, the significance of offering a broad product range, and strategic partnerships with geographic distributors. Here’s a glimpse of what you’ll learn: [01:52] How St. Louis Wholesale Tire began as a true American success story[10:28] The inception of the AIRLOC brand and how it became pivotal for business growth[13:27] Strategies St. Louis Wholesale Tire employed to navigate industry changes[15:45] The importance of responding to customer demands with innovative solutions[17:59] How the ATV Tire Bible came to be a testament to the company's market adaptability[23:20] The services and support offered by St. Louis Wholesale to other wholesalers[28:10] How Joe and John Inchiostro embody the philosophy of "time and pressure" in business growth Resources mentioned in this episode: Joe Inchiostro on LinkedInJohn Inchiostro on LinkedInSt. Louis Wholesale Tire Mike Edge on LinkedInTread Partners Companies: Goodyear TiresMOOG AutomotiveTire Mart Websites: Traction Summit Quotable Moments: "I really feel like it's a true American success story of taking everything you’ve got, taking a shot at it, and you're all in.""Pressure and time. One small move a day, one good decision. Over the course of a year, you will move mountains.""We want the employees to feel like they're part of our family. Handle your own troubles; we'll handle ours. We're here for each other.""We try to go above and beyond just the sale of the tire and provide convenience, service, and quality. Really, value is what we're trying to provide.""If there's something wrong, we'll make it right. We're not worried about that tire. It's the relationship. We want to build trust." Action Steps: Adopt a "time and pressure" approach to business challenges. This patient and persistent approach is proven by the Inchiostro's success and reinforces the importance of incremental progress [00:28:10]. Embrace your unique history and expertise to carve out a niche in the market. Understanding your distinct strengths can set you apart from competition, just as St. Louis Wholesale Tire's specialty in rare tires did [00:06:04]. Make strategic partnerships for business growth and market expansion. Collaborating with other companies, as St. Louis Wholesale does with tires, can increase your reach and create mutually beneficial relationships [00:21:33]. Innovate by responding to customer demands with practical solutions. Addressing client needs with forward-thinking products and services, like the seller return program, can drive subscriber confidence and loyalty [00:15:45]. Prioritize relationships in every aspect of the business. Building trust and treating customers as friends, as Joe and John Inchiostro do, can foster a positive reputation and long-term success [00:30:36]. Sponsor for this episode... This episode is brought to you by Tread Partners. ...
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    35 mins
Leadership Management Economics
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