Several months after putting additional tire dealership buy-outs on hold, Monro Inc. is back in the acquisition game, revealing on Oct. 28 that it has picked up Allen Tire Co., a longstanding independent in southern California, for an undisclosed sum.
The challenges of 2020 have been immense, and commercial tire dealers are doing their best to weather the storm. As Bob Berlin, president of Orange, Mass.-based Pete’s Tire Barns Inc., put it, “We’re pretty much flat for the year — and we’re happy.”
Including the current, COVID-19-based economic downturn, the United States has experienced three recessions in the past two decades, including the post-2001 dot com bubble burst and the Great Recession of 2008. All three have provided merger and acquisition takeaways that can be useful to independent tire dealers who are managing through the present crisis.
Tire Dealer of the Year Chip Wood provided his take on five topics that independent tire dealers grapple with on a daily basis - and how they impact his dealership, Tire Discounters. Here’s what he had to say.
I’ve always enjoyed watching infomercials on television. It doesn’t matter what the product is, I enjoy watching how the salesperson makes me think it will solve every problem in the universe, and I must order it today.
Is there still a place for the smaller wholesale-distributor? Who will be making the next dealership acquisition? And what about Amazon? MTD columnist John Healy examines challenges tire dealers face in 2020.