The Benefit of Acquiring a Competing Shop's Customer Database
While Bill Orsborn only owns two shops, he did acquire a third location—sort of.
“Two years ago, we bought out another business,” says the owner of two Gateway Transmission locations in Washington, meaning he didn’t acquire a new facility for shop operations, but instead acquired a new customer database.
On top of that, as a result, Orsborn's facilities few more technicians and an array of tools and equipment.
He then sold the building, making up for some of the costs.
Orsborn coordinated with the former shop owner and a newsletter team to inform the existing customer database of the change. He vowed to embody the former owner’s ethical concerns.
Gateway also took over the former shop’s old website and social media pages, and was able to inform his new customers of the change in that format as well.
“It was pretty seamless,” he says. “Acquiring other businesses can be a profitable way to go.”