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.htmlMarc 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 officeHow Magnet bought its way into fleet in 2004Taking over in October 2023 when his dad stepped backGoing from mate to boss, and the hire he regrets letting goTurning away the busy fools and £4,000 to £5,000 a week of turnoverFleet versus retail: margins, authorisation and high spend reviewsSplitting workshop control from the front deskThe five year plan, ramps, and why he is not opening a second siteTimestamps:00:00 - intro01:44 - leaving school and the six months at home07:29 - how magnet got into fleet in 200413:15 - the dip and taking over in October 202319:18 - the sultan of brunei cars23:06 - Castrol | The Race Group Partnership24:26 - the setup, the staff and buying the wrong building33:02 - fleet versus retail margins and authorisation39:15 - the numbers and turning away the busy fools46:27 - becoming managing director52:46 - the five year plan and adding ramps59:36 - outroSubscribe for more expert insight, honest conversation, and real stories from inside the independent garage sector.https://beacons.ai/ontheramp#garageowners #independentgarage #automotiveindustry #mechaniclife #ukgarages #trades #automotive #castrol #fleet #familybusiness #ontheramp