What It's Really Like Taking Over the Family Garage at 24

This episode is sponsored by Castrol and The Race Group. To learn more about Castrol Service, please visit:

https://www.castrol.com/en_gb/united-kingdom/home.html

Marc is 25 and runs Magnet Autos in Liverpool, a third generation family garage his granddad started in 1978 after accidentally buying the wrong building at auction. He came into the business straight out of school after six months at home, took over in October 2023 when his dad stepped back to care for his granddad, and was made managing director just under two years later. Turnover has roughly doubled in three years.

Tim Guidotti joins Alex on co-hosting duty for the first time, so there is a proper fleet conversation in here too: fleet versus retail margins, auto authorisation on the platforms, high spend reviews and de-fleeting, and why six technicians can run on one service advisor.

If you run an independent garage or you are heading into a family business handover, this one is honest about the parts that go wrong as well as the parts that work.

Topics covered:

Coming into the family business out of school and starting in the back office

How Magnet bought its way into fleet in 2004

Taking over in October 2023 when his dad stepped back

Going from mate to boss, and the hire he regrets letting go

Turning away the busy fools and £4,000 to £5,000 a week of turnover

Fleet versus retail: margins, authorisation and high spend reviews

Splitting workshop control from the front desk

The five year plan, ramps, and why he is not opening a second site

Timestamps:

00:00 - intro

01:44 - leaving school and the six months at home

07:29 - how magnet got into fleet in 2004

13:15 - the dip and taking over in October 2023

19:18 - the sultan of brunei cars

23:06 - Castrol | The Race Group Partnership

24:26 - the setup, the staff and buying the wrong building

33:02 - fleet versus retail margins and authorisation

39:15 - the numbers and turning away the busy fools

46:27 - becoming managing director

52:46 - the five year plan and adding ramps

59:36 - outro

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