Keith Matus began making of body shop work to pay for his studies in geology and chemistry in the early 1980s . He did not know when it would be his work aside, not schooling, that will lead to success in search of the American dream.
Today, Keith owns Keno Collisiontek, an auto repair shop leading to Kenosha, Wis., A direct repair partner and customer of insurance companies with ERIE Sparks insurance. He built the company over the past 30+ years, starting with a freelance concert in a closed junk yard and becoming a full garage with 12 employees. It has four newest personally buying properties for a property in Florida and should not bank a dime.
"All around, I feel successful," he said.
But like most stories of success, that success does not happen overnight. That meant working hard for some hours the jobs needed. sometimes it meant taking a risk, like taking a loan to grow to the next level. And sometimes it meant to finally put on the payroll.
"cash flow was rough at first, "he recalls," but the costs of labor were also cheaper at the time. I had to borrow money to make payroll. But sometimes you come in last when looking to pay your people. "
So, how do?
He grew slowly
Keith had $ 800 and only a handful of clients to start his business in 1983. for the first six months he has paid $ 300 for rent and $ 500 for parts and worked with just a wood stove for heating.
After that, he had done enough that it could move in a small shop in town, and within a year, he hired an employee. Keith was at this little shop for about three years before buying a large property.
"at that time I'm either going to get into 100 percent or I was going to walk, "he said
customer confidence is low in small businesses;.. it would be more to stay in business Rather than give up, he bought the largest store known as Keno Body & Paint, Inc. and hired four employees. He put 10 percent down to buy the property and covered the rest with a loan from the Small Business Association, he paid in eight years.
After 10 years there, Keith bought a dealership that went out of business and rehabbed the garage of the building, it is in today Collisiontek-Keno. In addition, it has expanded into a second business, Keno Lube & Alignment, to help get customers to their vehicles on time.
He planned ahead
"I had the mindset that I always wanted to pay Uncle Sam and always wanted to pay the bank," said t -he.
while taxes and benefits for employees can be steep, Keith always made sure to have a reserve that covered these expenses while growing the business.
"Taxes are a fact of life," he said. "You just have to cope. It is inevitable that they will go up and it's a matter of being prepared."
Keith also paid all debt as quickly as possible. He added: "You never want to get behind on your payments. This will kill a business faster. "
He did it his way
I was shocked when Keith casually mentioned that he only has one hand. When he was 15, he lost his left hand when a model rocket exploded instead of taking off. But it's the last thing he speaks when it comes to his business and be successful.
"I'm not considered invalid by the state, and I have never applied for grants or something like that, "he said. "I understood that things were against me, especially when the work in geology and chemistry were nowhere to be found. But if you put your mind to something, you can do it. Take the challenge and make a play. "
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