Mario’s Classic Auto Body Repair
Mario’s Classic Auto Body Repair is owned and operated by Mario Tommolillo, a successful Paterson auto body repair company in business for over 20 years.
In 2013 Classic Auto Body needed financing to expand and applied for a loan from the Paterson Restoration Corp to purchase a neighboring building. They needed three year of financial projections in order to apply for a bank loan, and the bank officer sent Mario to the SBDC for assistance. The SBDC assisted the client with determining revenue growth potential and preparing the financial projections to support their loan application.
Mario successfully applied for and received a loan for $385K and line of credit for $100K totaling $485K in funding.
The SBDC recommended Mario and Classic Auto Body to the William Paterson University’s Business school to be analyzed by honor students in the semester long Practicum experience. The students reviewed all aspects of the business and gave a formal presentation to the business management on business expansion, marketing, and other business challenges they face.
The students compiled a complete business plan with recommendations in marketing, operations and financial management. Mario was very pleased with the presentation and reports, he is in the process of implementing several recommendations including:
- Change company name from “Classic Auto Body” to “Mario’s Classic Auto Body”
- Change employee uniforms
- Revamp website
- Regular management and staff meetings
In 2014 Mario’s Classic Auto Body has seen a 5% profit growth and added one new fulltime and two part-time employees, and is currently seeking new workers to fill vacancies to keep up with growth.