How Does Buying and Selling a Business Work? Also, TRX and Eco One Chat. Episode #859

In this episode of the Pints and Polishing podcast, Marshall and Nick discuss various topics including buying and selling, car culture, using TRX and Eco One, and their experiences at car shows.

They also share stories about getting tires repaired and evaluating a used car for purchase. In this conversation, Nick and Marshall discuss the importance of getting a used car inspected by a mechanic before purchasing it.

They emphasize that if a seller refuses to allow a mechanic inspection, it's a major red flag. They also talk about the significance of taking care of a vehicle and the potential problems that can arise after 60,000-70,000 miles.

They caution against overpaying for a used car and highlight the need to negotiate based on the vehicle's condition and market value. The conversation also touches on the topic of accepting payments in a business and the importance of keeping proper financial records.

Takeaways

It's important to provide as much information as possible to educate and inform others in the car care industry.

Car culture is evolving, with more people becoming famous in the car world without being directly involved in the car business.

The versatility of products like TRX and Eco One allows for various dilution ratios and applications, making them useful for different cleaning needs.

Car shows offer a chance to see different types of cars and engage with car enthusiasts.

Choosing between new and used tires depends on personal preference and the specific situation.

When evaluating a used car for purchase, it's important to inspect it thoroughly and consult with a trusted mechanic. Always get a used car inspected by a mechanic before purchasing it

Refusing a mechanic inspection is a major red flag when buying a used car

Take care of your vehicle to avoid major problems down the line

Negotiate the price of a used car based on its condition and market value

Keep proper financial records and accept payments in a way that aligns with your business goals

Chapters

00:00 Introduction and Sharing Information

03:20 Remembering Rob Pitts and the Changing Car Culture

06:26 The Versatility of TRX and EcoOne

09:39 Using EcoOne for Rinse and Cleaning

13:42 Exploring Car Shows and Engaging with Car Enthusiasts

20:56 Getting Tires Repaired and Evaluating a Used Car

26:55 The Importance of a Mechanic Inspection

30:03 American Made Cars and Vehicle Maintenance

36:29 Negotiating the Price of a Used Car

43:38 Accepting Payments and Keeping Financial Records