{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Secrets to Scaling Your Auto Service Business With Joe Tomarchio Jr. of FOCUS Investment Banking","description":"Joe Tomarchio Jr. is a Managing Director at FOCUS Investment Banking, where he specializes in helping auto service businesses scale and prepare for acquisition. Before joining FOCUS, Joe co-founded and scaled a 26-location tire and auto service chain, generating over $50M in revenue before selling it to Monro. With over 65 major acquisitions under his belt, he is one of the most seasoned professionals in the industry. Joe now consults for private equity firms and dealers seeking exponential growth or strategic exits. In this episode\u2026 Auto service businesses often undervalue their labor, hurting both profitability and employee retention. Many operators struggle with hiring because they don\u2019t charge enough to offer competitive wages or create appealing work environments. How can owners realign their pricing and culture to build a more sustainable and attractive operation? According to Joe Tomarchio Jr., who leads strategic growth initiatives for FOCUS Investment Banking, the key lies in charging what you're worth and investing that revenue back into your team. By adjusting labor rates and responding rapidly to cost increases, Joe helped transform underperforming stores into profitable ones. His four-pillar hiring approach focused on attitude, enthusiasm, work ethic, and moral compass fosters loyalty, high standards, and accountability. On this episode of Gain Traction, Mike Edge welcomes Joe for a discussion about strategic pricing, acquisitions, and creating a workplace where technicians and staff want to stay. Joe shares his leadership principles, anecdotes from his time at Monro, and actionable advice for shop owners looking to grow, sell, or simply survive in today\u2019s competitive market. Here\u2019s a glimpse of what you\u2019ll learn:  [02:04] The journey from one store in Baltimore to a $50M tire and auto service empire [06:22] Why Joe Tomarchio Jr. focused solely on acquisitions for the last 8 years at Monro [08:05] The link between low labor rates and hiring challenges in auto shops [09:15] Why paying employees well is essential for customer satisfaction and retention [15:06] Joe\u2019s customer service philosophy: empower frontline staff with $500 autonomy [16:50] Why allowing employees to make mistakes is crucial for growth [18:01] The four pillars Joe used for hiring: enthusiasm, attitude, work ethic, and moral compass [29:26] Joe\u2019s current work at FOCUS Investment Banking helping dealers grow or exit Resources mentioned in this episode: Joe Tomarchio Jr. on LinkedIn FOCUS Investment Banking  Richard Balan on LinkedIn Raven Truck Accessories Robert Gross obituary  Mike Edge on LinkedIn Tread Partners Quotable Moments:  \u201cIf you can\u2019t charge enough, you can\u2019t pay enough \u2014 and then you can\u2019t retain the right people.\u201d \u201cPay more, but demand more. I strive for perfection and settle for excellence.\u201d \u201cTo beat me, you have to eat me. If I haven\u2019t won, the war isn\u2019t over.\u201d \u201cYou pay peanuts, you get monkeys \u2014 and monkeys don\u2019t deliver superior service.\u201d \u201cI know the top 10% and the bottom 10% of my team. Guess which one you don\u2019t want to be?\u201d Action Steps:  Raise your labor rates now: Don\u2019t wait for inventory to turn \u2014 adjust pricing as soon as costs increase. Invest in your team: Pay above market rate to attract and retain top technicians and managers. Screen for character, not just skill: Use the four pillars \u2014 attitude, enthusiasm, work ethic, and moral compass \u2014 as your hiring filter. Empower store managers: Give them financial autonomy to resolve customer issues quickly and effectively. Lead from the field: Spend time in your stores to connect with employees and understand operational challenges firsthand. 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\u2019ve helped companies like Action Gator Tire, Colony Tire and Service, and Ulmer\u2019s 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. ","author_name":"Gain Traction","author_url":"https:\/\/gaintractionpodcast.com","html":"