Giorgio Andonian is the Managing Director at FOCUS Investment Banking. Since joining the company in 2019, he has been instrumental in guiding mergers, acquisitions, recapitalizations, and capital raises for middle-market businesses in the Consumer and Automotive Aftermarket sectors. Prior to FOCUS, Giorgio served as vice president of 55 Inc. in Southern California and has held other roles in the tire industry spanning finance, operations, and supply chain management. He holds a MBA from Pepperdine University and several professional licenses including Series 79, Series 82, and Series 63.

In this episode…

Are you considering selling your tire and auto repair shop in the near future, or maybe the distant future? How far in advance should you begin planning your exit?

According to Giorgio Andonian from FOCUS Investment Banking, it’s never too early to start taking the necessary steps because these transactions often take longer than expected. Giorgio says his company recently played a part in a sale that took three years to complete due to the advanced maturity of the tire industry. Among the questions to start considering now: Are you a C Corp or an S Corp? Are you charging yourself fair-market rent? What will management look like when you are no longer the owner?

On this episode of Gain Traction, Mike Edge welcomes Giorgio for a conversation about the many aspects of selling a tire and auto repair shop. He explains why it’s important to know what type of corporation you are, why you should start planning for a potential sale with your accountants years in advance, and the considerations associated with ownership of the property where the shop is located. Giorgio also talks about what he learned while working at his family’s Discount Tire Centers.

Here’s a glimpse of what you’ll learn: 

• Growing up in the tire business as a small child
• How Giorgio Andonian became involved in his family business,  Discount Tire Centers of Southern California, as an adult
• Why Giorgio’s inventory management experience in the tire industry has paid off with FOCUS Investment Banking 
• Pep Boys’ acquisition of 25 of Giorgio’s family’s 50 Discount Tire Center location
• How Giorgio and his father more than doubled annual retail revenue after scaling down to two locations
• What precipitated Giorgio’s transition into investment banking?
• Advice to shop owners who are considering selling their business

Resources mentioned in this episode:

• Giorgio Andonian on LinkedIn
• FOCUS Investment Banking
• Michael McGregor on LinkedIn
• Mike Edge on LinkedIn
• Tread Partners

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 [email protected] to learn more.