CINCINNATI — Tire Discounters, the sole family-owned-and-operated retail tire dealership among the nation's 10 largest retail chains, has been on a growth tear the past few years, and management has no plans to slow down.
As the calendar year ticks toward 2023, Tire Discounters' management is finalizing a six-store acquisition in Virginia that will bring to 39 the number of new points of sale added this year.
The dealership has every confidence it will match or exceed that total in 2023, President and CEO Jamie Ward told Tire Business recently, as the company's growth-by-acquisition strategy is hitting on all cylinders.
- This article appears in the Dec. 5 print edition of Tire Business.
Should the dealership keep up that pace, it would vault Tire Discounters solidly beyond 200 points of sale.
In addition, the business is branching into the allied fields of auto glass repair/replacement and car washes — which represent dozens of more locations, some co-located with Tire Discounters retail stores — and has branched into the commercial end of the business with six locations skewed heavily in that direction.
The firm's growth curve is not growth for growth's sake, according to Ward and Anna Wood, vice president and managing director, who discussed the dealership's strategy recently with Tire Business.
Instead company management evaluates each move resolutely for its impact on the firm's business footprint as well as the bottom line.
"First and foremost," Ward said, "we look for a good family-owned and -operated business. Otherwise is just a real-estate transaction, something we don't want to consider offering."
"Part of the reason we're in the acquisition business is because we're family owned. We want to make sure those same core values are there," he said, listing things such as high employee- and customer-retention rates. "We don't want companies with the wrong ethics or style of treating employees."