This week's guest is Jordan Beshears, vice president of Steve’s Auto Body, a two-store -- and growing -- operation out of the St. Louis area. Beshears and host Cole Strandberg discuss a ton in this episode, including how Steve’s Auto Body has grown to where it is today, the dynamics of a family business, OEM certifications vs. DRPs, some exciting growth plans in the works and much more.
Episode Overview
Beshears' professional journey is a tale of unexpected turns and the pride of continuing a family tradition. Initially pursuing a path in finance, Beshears found his calling within the family business. After his parents took over Steve's Auto Body, he dove into the collision repair world, leveraging his diverse skills in estimating, production and finance to drive the company's success.
A defining moment for Steve's Auto Body was the opening of a second location in 2017. Beshears highlighted the importance of process refinement and lean training as key to enhancing efficiency and productivity. Despite the challenges brought on by the COVID-19 pandemic, which interrupted acquisition discussions and called for a stabilization plan, the company's resilience was evident. It bounced back, doubling its revenue and tripling its profitability. Looking forward, Beshears excitedly announced plans for a new greenfield project, setting the stage for a third location by year's end.
Moving into the strategic approaches to Steve's Auto Body's growth, Beshears illuminated the complexities and benefits of both acquisitions and greenfield ventures. He stressed the importance of ensuring the company's growth strategies are in harmony with its core values, a crucial aspect for any business eyeing expansion.
Steve's Auto Body is navigating the emerging field of Advanced Driver Assistance Systems (ADAS) calibration. Beshears discussed the potential of establishing a dedicated calibration center and the strategic incorporation of these services.
In the collision repair sector, the conversation around the value of OEM certifications versus DRP relationships continues. Beshears provided a balanced view, recognizing the importance of both. He praised OEM certifications for ensuring quality and safety, while also acknowledging the significance of maintaining DRP relationships for sustained business success.
Looking to the future, Beshears shared his vision for Steve's Auto Body, which includes ongoing expansion and the addition of a CFO to the leadership team. He reflected on the unique experience of contributing to a family business and the dynamics that come with it. Highlighting the importance of belief in one's vision, flexibility and strategic real estate use, Beshears identified the cornerstones of lasting success.
Wrapping up their dialogue, Beshears emphasized the need for business owners to be skilled operators and to take responsibility for their company's achievements. He championed networking as a crucial tool for business owners, both within the collision repair industry and in broader circles.
The strategies and insights shared by Beshears are invaluable, and should inspire those in the collision repair industry who are interested in goring their shop from one location to multiple. The distilled wisdom from their discussion is clear: embrace growth, leverage technology, find the right balance between certifications and DRPs, and keep faith in your vision while remaining adaptable.
