GLADWIN – The Michigan SBDC issued a press release about new local ownership of a business in Gladwin. According to the release, back in the spring of 2019, Bob and Tony Buzzell were ready to pursue their life-long dream of being business owners. They were new to the entrepreneurial field, so the Buzzell’s contacted the Mid Michigan SBDC to sit down and help sort out the details.
The Buzzell’s were looking to purchase Triple M Collision, a very successful auto body shop in Gladwin, Michigan. SBDC Business Consultant Jeff Punches was there to guide them through the entire process.
From looking at existing financial statements they were able to discover what the future may look like for Triple M Collision. This allowed the Buzzell’s to see where the business could go and get an idea of what to expect moving forward as new business owners.
As they pieced together the business plan, they got a clearer understanding of Triple M Collision, by identifying key customers, other potential areas to explore, and important cultural aspects of owning this type of business.
The Buzzell’s also had the opportunity to team up with SBDC Growth Team Specialist David Beeson. Together they strategized plans for maintaining a positive work culture, as well as how to manage workplace communication.
With all of this, the Buzzell’s were able to work with multiple lenders to develop a loan package that allowed them to purchase the business and transfer owners while continuing daily operations as seamlessly as possible. Since purchasing Triple M Collision, the Buzzell’s have been expanding business into new areas, helping to sustain and strengthen the core business.
They’ve retained the key employees necessary to the business, and have brought upon new employees, including their son, to reinforce the reputation of quality service the previous owners had built up. The Buzzell’s are using new technology to track their progress, and will work with their various partners (CPA, attorney, insurance agent, and lenders) to keep their business focused on taking care of all stakeholders.