Ever wanted your own engine business

[1ntCobra]

Keith,

Instead of looking to sell your business or find a partner, perhaps you might just want to think about why is it that you are working 12 to 18 hour days? Is it possible to delegate some of the things you are doing everyday to someone else? Perhaps to an existing employee or someone you hire?

Why not look at all of the tasks that you perform in your business and figure out which ones you like the most or which ones you provide the most value to your business? Then focus on doing those tasks and let someone else do the others.

If the way you run your business requires that you put in all of those hours, you may be a limiting factor to your business's maximum capacity. That is you are not allowing it to scale to a larger size because you feel you have to be so involved in everything that is going on. If you can find a way to get other employees to do some of your work, maybe you can work less hours and grow your business even more.

[jhv48]

I don't think Jack Roush spends 12-18 hours a day building his engines.

If you get my drift!

You might try the same.

Unless you're a perfectionist. Then you're screwed.

To Jack, there is an acceptable return ratio. As we have all seen!

It might be time for you to "manage" the business rather than "work" the business. You have succeeded in building a good reputation. Now, train others to do the work under your supervision. Learn to "work smart" rather than "work hard".

[csx4910]

Just my 2 cents but after running my own business for almost 5 years I can honestly say that no one would have the knowledge to give me advice about running my business unless they have owned a business similar to mine so I am not sure any of us has the knowledge or experience to give him advice on how to run his business. Everyone has their own reasons when they feel it is time to sell.

Keith, I have never bought a product from you but I can tell you I wish I would of known about you before I bought my Roush. I wish you the beast of luck no matter what happens.
Ron

[1ntCobra]

Originally Posted by csx4910

Just my 2 cents but after running my own business for almost 5 years I can honestly say that no one would have the knowledge to give me advice about running my business unless they have owned a business similar to mine so I am not sure any of us has the knowledge or experience to give him advice on how to run his business. Everyone has their own reasons when they feel it is time to sell.

Keith, I have never bought a product from you but I can tell you I wish I would of known about you before I bought my Roush. I wish you the beast of luck no matter what happens.
Ron

The advice to consider letting others do some of your work to reduce your workload is not specific to any business, it is pretty generic. Whether he looks for a business partner to buy into the business or finds an employee to help him run the business is up to him, but there are advantages to each situation. Losing a controlling interest in the business might not be a good idea.

Usually when you are selling a business, you don't want to be such an important part of the business that it will fail without you being there. You want to structure the business, so that it can function without you after the sale. If Keith is working all of those hours, is he required for the business to succeed? Will it mean that he will still have to work all of those crazy hours, but not be the owner anymore?

[Seagull81]

Dang it Keith! You can't retire. I'm still saving for one of your engines.
Sorry I missed you at the Texas Meet a couple of weeks ago.

If you really get to retire, enjoy yourself you have worked hard for it.

[Snakebit]

What a great opportunity for a younger person. To walk in to a turn key business and become a partner/trainee with one of the best engine builders in the world. I don't think you could put a price on that. This is better than any college education! I wish I was 30 years younger.

When I grew up, there was no UTI or Lincoln Tech, just your local vocational schools that my parents thought all the flunkeys from high school ended up. So today every one has to go to college and take a bunch of BS courses and when you graduate you still don't know S___t and it cost you over a $100 grand! Most kids don't belong in college. The trades are dieing off. Electricians, carpenters, masons, machinists, auto body repairmen, plumbers, HVAC, and the list goes on.

Keith, best of luck!

[Dallas56]

DanEC, I had a similar experience with Keith about a month ago. I drove to Arkadelphia to look at a Superformance that Keith was selling, my first Cobra, never met Keith before. He had put a small block stroker (427 cubic inch, 580 horsepower, 590 torque) and Tremek TKO-600 into a beautiful new SPF roller (Royal blue, double Wimbledon racing stripe). Keith gave me the full tour of his shop and two hours of his time, showed me the car, demo'ed the engine (no drive, it was wet), went over all paperwork (including Dyno data), and answered all questions. I bought the car on the spot. Keith is a big talent, hard working, honest, responsive. He and Shelly worked with me to resolve an SPF roller issue (no issues at all with the engine) and to generate all the paper work necessary to get a new title in Texas. Keith trailered the car to me in Dallas on his way to the Texas annual meeting in San Marcos. Car is great, engine is breathtaking. (Yesterday, a Corvette pulled up to me at a red light, driver rolled his window down, said "Now, that's a man's car, tell me about it." This was right after a cop waved at me, and a kid on a hot shot motorcycle challenged me (a challenge this brand new and inexperienced old man owner declined).) Keith gave me his cell number and has answered my phone calls at 8 PM at night. I can't speak highly enough of the guy and don't understand how any customer could have an issue with him. If he retires . . . our loss.

[Keithc8]

I want to let my customers know and hopefully and future customers that I am not retiring anytime soon. I more or less wanted to see if there was anyone young or old that might have an interest in getting thir feet wet in this business.
There would be no way I do not think that someone could walk in one day and me leave the next. I just want to slow down a little on my end and just wanted to see if there was anyone interested in getting into this business that had a true desire. This would take someone that had a love for cars and engines and wanted more than a job. It is getting harder and harder to find those kind of people.
I have good employees that could pretty much run the shop without me as long as the work was rolling in. Well as we know that does not just happen without talking with people and being involved with activities that put you in touch with car people. My engine assembler Jeff Henry has been with me 15 years and I would put him up against anyone anywhere. He is one of the few like me that when his name goes on something he wants it the best it can be. You have to have pride in your work and have a desire to be the best.
Like someone here said Roush has very little to do with the crate engine business. Pretty much got approached with an ideal to do the crate engine deal when his shop slowed down. Other people run it and he said do not do anything to hurt my name. They have done a pretty good job with that, but you will not call there and talk about a problem with Jack Roush, he has other things to do.
I started my shop about 17 years ago after splitting with a partner. I had a 3000 square foot building and myself for about a year and then Jeff came to work for me and then about 4 months later my brother-in-law. We three took it from there up to about a 12,000 square foot shop, ten employees and about 20 engines a month sold to about 20 different countries world wide.
Know with over 2 million invested and three children I will not retire in the next year but do plan to slow down some. So I hope that we can keep doing business with the Cobra community because it has been good to us. Just checking and looking for a few options in the future.
By the way the profit margins are tight in this business and I do not see how some of these others places can compete with us with our location and lower overhead. I tell people we are not the cheapest and we are not the most expensive but somewhere in between.
Thanks for the post and private e-mails and be sure we will not leave our customers high and dry.

Thanks, Keith Craft

[SoTxButler]

Something GOOD on tax day.....who would have thunk it!!!!!

[DanEC]

Originally Posted by Dallas56

DanEC, I had a similar experience with Keith about a month ago. I drove to Arkadelphia to look at a Superformance that Keith was selling, my first Cobra, never met Keith before. He had put a small block stroker (427 cubic inch, 580 horsepower, 590 torque) and Tremek TKO-600 into a beautiful new SPF roller (Royal blue, double Wimbledon racing stripe). Keith gave me the full tour of his shop and two hours of his time, showed me the car, demo'ed the engine (no drive, it was wet), went over all paperwork (including Dyno data), and answered all questions. I bought the car on the spot. Keith is a big talent, hard working, honest, responsive. He and Shelly worked with me to resolve an SPF roller issue (no issues at all with the engine) and to generate all the paper work necessary to get a new title in Texas. Keith trailered the car to me in Dallas on his way to the Texas annual meeting in San Marcos. Car is great, engine is breathtaking. (Yesterday, a Corvette pulled up to me at a red light, driver rolled his window down, said "Now, that's a man's car, tell me about it." This was right after a cop waved at me, and a kid on a hot shot motorcycle challenged me (a challenge this brand new and inexperienced old man owner declined).) Keith gave me his cell number and has answered my phone calls at 8 PM at night. I can't speak highly enough of the guy and don't understand how any customer could have an issue with him. If he retires . . . our loss.

I saw your car up on a lift in his shop when I was there. A beautiful car. Glad to hear Keith isn't going any where soon.

Dan

[DAVID GAGNARD]

6 or 7 years ago, I place an order for a 331 rotating assy. with Keith,told him it was for a road racer and what kind of rpms/use it would get, he put together the parts and pieces for me....I could have bought the same stuff from Summit/Jegs or any one of many other places, but Keith was about a 100 bucks less for the same parts and driving distance for me, so I saved another 100 bucks or so on shipping. Also, my flywheel was a 28 oz. balance and needed a 0 balance for the stroker,he said no problem, bring it when you come and we'll re-balance it to 0 for you while your'e here.......

They did so while Tony gave me the $2.00 tour of the shop, and what amazed me was every employee down to the 2 guys tearing down old greasy motors and washing them, would stop and say "hello" and shake my hand as we went thru each department and those folks didn't know me from Adam!!!!!!!!!!!!!!

Class act people down to the lowest guy on the totem pole.......first class shop with $$$$$$$ equipment too..........

David