Car fan buys auto repair shop

FOR IMMEDIATE RELEASE DECEMBER 09, 2007

BRIDGETOWN - The allure of cars and a good investment opportunity drove John Vince to buy a transmission repair shop on Cincinnati's West Side.
Vince acquired a Mr. Transmission franchise at 6596 Glenway Ave. from the previous owner in September. He worked in the service and parts departments at dealerships and a local after-market parts company in the late 1980s.
Though he's now a full-time Realtor in Northern Kentucky, Vince's fascination with cars remains strong.
"I've had Camaros, Thunderbirds, Fiats ... I've had them all," Vince, 38, says.
The franchise also fulfills another one of Vince's desires: to own his own company.
He says he bought the business because it's already established, has a loyal customer base and is among a few shops of its type in the area.
It typically costs about $60,000 to buy a Mr. Transmission franchise, but the price Vince paid for the existing franchise was not disclosed.
Vince also joins a growing number of entrepreneurs buying established businesses.
"Many of these new business owners are no longer starting from scratch. Instead, a significant number are choosing to purchase one of the more than 1.7 million existing businesses that for one reason or another are up for sale on any given day across the country, " according to a small business report on Wachovia Bank's Web site.
Vince hopes to set his shop apart from rivals by offering customers many services, including nationwide warranties. He hired Russ Pollard, a veteran with more than 25 years in the business, to manage the franchise.
It typically costs from $900 on up to rebuild a transmission, Vince says. The shop also replaces clutches for standard transmissions, rebuilds transfer cases on four-wheel-drive vehicles and offers free towing, among other services.
He also says because his business is a franchise, customers would have access to more than 200 locations that are sister brands of Mr. Transmission for repair work.
Vince is confident he can boost his store's sales by 20 percent in the next five years, and hopes to use it as an anchor to open more local stores.
Contact: 513-574-8726

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