North Star Motors
“Thank you [SBDC]!!! . . . We couldn’t have done it without you!!!”
North Star Motors is the original Redding-based full service Mercedes-Benz shop, starting in 1986. They strive “to develop long-lasting relationships with our customers and their Mercedes-Benz automobile.
Challenge
Richard and Jesse DeCosta had been in the automotive industry for many years. Rich is an expert technician and Jesse is an experienced automotive repair office manager. When the opportunity came along for them to purchase the longest-standing Mercedes repair shop in the Redding area, they wanted to leap at the chance; but they had no idea what steps to take to make the acquisition.
Gameplan
Rich and Jesse turned to the Shasta-Cascade SBDC. We helped them establish the parameters of the deal, prepare a business plan with forecasted financials and put together a package (including their own investment, family investment, a loan and the old owner carrying part of the amount).
Results
Rich and Jesse celebrated on July 1st, 2021 when they officially became the new owners of North Star Motors. To their advisor, they wrote: “Thank you [SBDC]!!! We couldn’t have done it without you!!!”
