For the year ending December 31, 2011,
CARSTAR reported nearly 400
store locations in 31 states and 10
Canadian provinces. Company wide sales
topped nearly $600,000,000 for 2011,
exceeding its financial objectives for
the year. The CARSTAR network
outperformed the industry on same store
sales, delivering nearly double-digit
same store sales increases, compared to
the approximate 2 percent increase for
the industry overall.
Corporately managed insurance sales
saw double-digit growth in 2011 as
CARSTAR expanded its MSO network,
delivering the second highest annual
increase in the network’s history. It
also was a record year for rebates
generated to the system.
CARSTAR has recently added 17 new
CARSTAR locations throughout Texas,
Florida, Washington, Missouri, New
Mexico and Massachusetts. It also
announced its expansion into
California.
The performance of
the new stores was strong, with
new store revenues increasing 50
percent over 2010, the company said. CARSTAR credits the
performance to the quality level of
stores it is bringing into the system
and benefits of its value proposition.
“During 2011, we made a number of
changes to strengthen the foundation of
CARSTAR and set the stage for growth as
the economy improves,” said David
Byers, CEO of CARSTAR Auto Body Repair
Experts.
“We surpassed our
financial objectives for the year and
continue to operate with a strong
balance sheet and an overall strong
financial position. This year, we are
optimistic about the growth
opportunities in the marketplace, both
for our current store owners and new
store additions, and look forward to
fulfilling our potential as North
America’s largest MSO network.”
For 2012, Byers outlined four key
objectives for the company: Growing
existing store revenues and profit
through operational improvements across
the CARSTAR network.
This
includes increasing stores’
participation in the EDGE program,
which drives work process improvements
to deliver repeatable outcomes;
expanding the financial focus groups to
allow more stores to participate; and
strengthening the business group
network.
PAGE
2CARSTAR also enhanced its
regional service team with collision
industry veterans to focus on these
operational improvements. It added new stores through an aggressive
expansion effort in 2012, including the
launch of CARSTAR in California.
CARSTAR expects to add more
than 50 new stores this year. It also
doubled its business development team
with industry veterans – led
by Ryan Keller, whose experience includes
Driven Brands, parent company of MACCO,
with Keith McCrone, formerly of FIX
Auto and Mitchell, leading the
California market, and Mark Behrens,
previously with Puroclean, a franchised
emergency services company, leading the
effort in the Northeast.
Adding
new MSO insurance relationships by
strengthening the network of multi-
store operators who can guarantee
repeatable outcomes and good KPIs,
provide centralized management system
data about their stores and deliver
excellent, measurable customer
satisfaction.
Corporately,
CARSTAR is in active discussions about
MSO-type agreements with the top 20
carriers. Fully deploying the CARSTAR
Solution, the proprietary centralized
management system that helps stores
improve operational efficiency,
financial management and data
measurement.
To date, more than
50 stores have implemented the system
and some 100 stores are currently being
deployed. CARSTAR expects to have all
U.S. stores completed by year-end. “We
have an incredible network of
independent store owners across the
country, and we’re proud of what we’ve
accomplished working together over the
past year,” said Byers.
“This
shared vision and united focus on
achieving our goals will deliver new
growth for their businesses this year,
and help build the entire organization
for the future.”
For information and
store locations visit www.carstar.com.
