Tekmetric Co-Founder Prasanth Chilukuri Featured in latest issue of Texas CEO Magazine

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June 27, 2022

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Read time: 3 min

When it comes to starting a business, you have a lot to consider.

How are you going to make sales?

Are your operations in order?

How will you approach legal, HR, and marketing?

But it’s important to not forget about one key part to getting your business off the ground: funding.

You’ll want to be well-versed in what to look for in a potential partnership whether you’re in the startup phase, the expansion phase, or even in a plateau phase.

By better preparing now, you’ll set your company up for future success.

Recently, Prasanth shared his thoughts about different kinds of funding with Texas CEO Magazine. You can read the full piece here, or check out some of the highlights below.

Determine The Right Equity Path For Your Business

The first step for any business owner should always consist of researching and selecting the right method of funding for your company. Once you’re confident in your company’s business model, your company’s current state, and any future aspirations for your company, you’ll want to determine the right equity path that can take your company where you want it to go.

1. Venture Capital

Venture capital is a more traditional route and is optimal for new entrepreneurs. If you have an idea for a potential business venture but aren’t sure exactly what to do with it just yet, venture capital could help you secure funding so that you can bring your ideas to fruition.

With venture capital, your partner will purchase a significant portion of the company, and in turn will offer support and guidance to nurture your company’s growth

2. Growth Equity

If your company has already excelled in the starting phases and needs another boost to continue expanding, you’ll want to consider growth equity—otherwise known as “rocket fuel.” Growth equity tends to be founder-centric and offers more autonomy and room to remain true to your company’s original core values and business model.

3. Private Equity

Companies that have reached the later stages of their business’ lifecycle may opt for private equity.

This route can be a good contender for companies that are at risk of going under due to lack of profits. Private equity can give your company the boost needed to prevent it from closing up shop.

Whoever you choose to partner with will take a large portion of your company’s ownership and will make significant changes to the company. However, the private equity route tends to yield bigger checks.

What Did Tekmetric Do For Funding?

Prasanth knows how important the right funding for your company is.

Prior to 2021, Tekmetric was in the startup and the small business stage, so the initial funding from friends and family was an avenue that worked out really well at the time

After 2021, Tekmetric started to expand exponentially. Tekmetric’s Co-CEOs and Co-Founders Prasanth and Sunil Patel realized that more growth could be possible if they changed from their personal network funding to the growth equity route.

Growth equity provided funding for additional initiatives, such as marketing, product research, and hiring. In turn, Tekmetric was able to pursue the vision that Prasanth and Sunil had outlined during the company’s beginning stage.

Find The Right Partner

You’ll want to be intentional about choosing any of your partnerships as a business owner, especially when it comes to finding the right funding partnerships.

The partner you decide to go with will help determine what your business’ tone and future will be like.

As you’re determining the right partnerships for you, ask yourself 5 questions:

  • Is the partner aligned with my business goals?
  • Do I trust this partner with my team and my business?
  • What will my relationship with this partner look like?
  • How much day-to-day involvement in my company does this partner expect?
  • Does this partner provide a reasonable amount of funding to support my goals?

No matter what equity direction you take, you’ll want to find a partnership dynamic that works for you, your business, and your team. As you’re choosing the right partner, remain transparent about any goals and expectations you have in mind for your company.

You won’t want to choose a partner solely based on numbers. The partnership will be a long-term business relationship—a marriage of sorts—and you should treat the partnership with thoughtfulness and respect.

What Did Tekmetric Do For Funding Partnerships?

At Tekmetric, Prasanth and Sunil knew whichever partner they selected to provide funding would play a significant role in the company’s future, and would have a strong impact on Tekmetric’s overall tone, goals, and growth.

At the time Prasanth and Sunil started looking for partners, Tekmetric was a well-established name throughout the auto repair industry, so they wanted a partner that would work alongside them, not just someone who would give them money and stay at a distance.

Eventually, Tekmetric found the right partner—one who is not only sensitive to the company’s needs but also the needs of Tekmetric’s customers.

Tek-Tip: Always ensure your partnerships are a two-way street.

As an auto repair shop management system, Tekmetric has long realized the importance of mutually beneficial partnerships. We’ve established partnerships along the way with companies like Mechanic Advisor and Advance Auto Parts Pro Solutions to help us better meet our customers’ needs.  In fact, Tekmetric has more than 30 industry partners (and counting) to ensure the most seamless possible experience.

Want to assess your general partnerships beyond funding? Find out what you should consider as a shop owner before entering into an auto repair shop partnership here.

Remain True To Your Business Yourself

No matter the equity path you choose to go or the partnerships you choose to take, you’ll want to stay true to your business’ core values and who you are as a business owner.

Rather than cutting corners, you can opt for the best possible solutions.

Prasanth said it best: financial support and equity can be confusing, and it’s easy to get lost in the numbers and forget why you started your business in the first place. However, the right partner will make all the difference.

After all, if you are putting significant time and effort into your idea, your company, and your team, you should expect a partner who supports your continued success long into the future.

→ Check out our latest blog on 12 marketing strategies to help you bring in more customers, or learn how you can become the ultimate leader for your team

A special thanks to Texas CEO Magazine for providing space for Prasanth to share his knowledge.

👉 Ready to grow your automotive business? [Book a personalized Tekmetric Demo Here]

FAQ

similar articles

At the end of the day, customers want to feel like they can trust your shop, they know they'll be taken care of, and you're only doing the repairs that are most necessary.

On the other hand, your shop wants to bring in as much business as possible, and generate as much revenue as you can with the time and resources available to your team. That's made possible with the right tools for the job, streamlined and efficient processes, and transparent communication with your customers.

Better operations means smooth repairs, smooth repairs means happier customers, and happier customers means more business.

When your shop is trying to run like a well-oiled machine, any breakdown in workflow can lead to delays, a frustrated team, and unsatisfied customers.

For example, if a customer's repair takes longer because the part you thought you had in stock is actually on back order, they're going to be less likely to return.

That's where shop management software comes in. Just any other tool in your shop, there will be a return in your investment.

What if we told you that you can get even more value out of the work you already do with the right processes in place?

Top 3 Benefits of Auto Repair Shop Management Software

May 16, 2024

Read time: 3 min

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Almost 1,000 shop owners, service advisors, and technicians gathered in Houston for Tektonic 2026, Tekmetric's first industry conference. Over two days at the Marriott Marquis, attendees packed breakout rooms, traded hard-earned lessons, and heard from operators, coaches, and industry leaders who have built and scaled shops of their own.

The Question That Started It All

Tekmetric CEO and Founder Sunil Patel opened Tektonic 2026 with a question he has been asking since he was writing service tickets and mopping floors at his former Houston shop, Motorwerks of Houston: "Why does it have to be so hard? Why does it have to feel like we're fighting a war on 12 fronts?"

That question, he told the room, is the reason Tekmetric exists.

Standing in front of shop owners, service advisors, and technicians who understand that question on a cellular level, Patel walked through how much harder running a repair shop has become. Vehicles are packed with software, sensors, and calibration systems that require entirely new toolsets. Customer expectations have been shaped by on-demand everything. Technician shortages continue to press on shops across the country. And OEM data restrictions are making it harder for independent shops to do the work they were built to do.

But Patel didn't stop at the challenge. He laid out four pillars he believes the industry needs to move forward: stop celebrating burnout as a badge of honor, build genuine trust with customers and teams, invest in an ecosystem of great partners and vendors, and embrace technology that serves shops rather than extracts from them.

He closed with a simple ask for everyone in the room: be curious, be open, be generous with what you know, and be present. 

"I want you to take something away from here," he said. "Something that will get you to be 1% better than you were."

That set the tone for everything that followed.

Top Takeaways

Process Consistency Wins on the Hard Days

Busy days don't create problems. They expose them. The best shops build their standard operating process before the chaos starts.

  • Call the day before. A preappointment call to review service history and flag overdue maintenance turns intake from reactive to planned and primes customers to say yes before they walk in the door.
  • Speed is your biggest sales tool. Every hour between drop-off and delivering an estimate costs roughly 10% in approval rates. Get findings to customers fast.
  • Set the next promise, not the finish line. Never promise a completion time you can't guarantee. Promise the next specific update and deliver it on time, every time.
  • The in-store customer is the highest-priority repair order in the building. Every other car can wait. The person sitting in your lobby cannot.
  • Improve one thing at a time. Pick one process to fix, measure it, and build accountability before moving to the next. Trying to fix everything at once fixes nothing.

Speed Closes More Jobs Than Salesmanship

Closing rates drop sharply with every hour that passes between drop-off and the customer call. A customer who has been waiting since 8 a.m. has had time to read every one-star review and talk themselves out of approving the work.

  • Get inspection results to customers within 30 minutes of dispatch. That's the speed zone. Everything else in the shop is secondary until that call is made.
  • In-store customers get findings in 15 minutes or less. The customer is sitting right there. Use it.
  • Relative priority is your daily compass. At any moment, the most important thing is moving the car that's furthest behind in the process. Not the loudest customer. Not the most expensive ticket. The earliest step.
  • Two daily goals. Full stop. Every technician runs at least eight billable hours. The shop hits its gross profit target. Nail both and everything else follows.

You Don't Have a Technician Shortage. You Have a Culture Problem.

The technician pipeline isn't as broken as it seems. What's broken is how many shops make it hard to stay.

  • Rethink flat rate. Hybrid pay models that combine a solid base with performance incentives align your team's goals with the shop's goals and they're far more attractive to the next generation coming into the trade.
  • Answer two questions before you do anything else. Why would a technician work here? Why would a customer come back? If you hesitate on either, start there.
  • Recognition is the highest-ROI leadership move you have. Research cited at the conference found that team members become disengaged because they don't feel seen. Fix that before you invest in anything else.
  • AI won't replace hospitality. Technology can handle administrative weight, but the trust a service advisor builds with a customer at the counter is irreplaceable. Invest in that skill set.
P.J. Leslie, Tekmetric's head of mid-market and enterprise sales, moderates a panel during Tektonic 2026 in which multishop owners break down the real strategies behind expansion: buying shops, building shops, systemizing operations, integrating teams, protecting culture, and planning for eventual exit or partnership.

Growing to Multiple Locations Takes More Than Money

Every multishop operator on the stage agreed: you're never fully ready, and that's fine. What matters is being profitable, having the right people, and expecting the unexpected.

  • Profitable and cash-positive before you move. When you make a mistake at location two—and you will—you need a healthy location to cover it.
  • You're ready when your shop doesn't need you. Build your bench before you open the next door. The manager for location two should already be in your building today.
  • Start your exit plan on day one. Almost no one in the room at one of Tektonic’s breakout sessions had a clear exit strategy. Don't leave money on the table because you never thought through how the story ends—whether that means selling, transitioning, or building for long-term cash flow.

Leadership Is the Ceiling on Everything Else

Your shop will never outperform your leadership. What you tolerate becomes your standard. How you show up on Monday morning sets the emotional temperature for everyone around you.

  • Know your triggers before they know you. Name what sets you off. Once you can spot it, you can stop it before it damages a relationship.
  • Pause for three seconds. Before you respond to anything that's gotten under your skin, stop. Three seconds is the difference between a reaction and a response.
  • Hear less. Listen more. After someone finishes speaking, let the silence sit. People almost always have more to say and the second thing is usually the real thing.
  • Walk into hard conversations knowing how you want them to end. Start with the outcome in mind, not the grievance.
Tekmetric Chief Product Officer Jared Haleck breaks down Tekmetric's new products at Tektonic 2026. The new products include Tekmetric digital ads, Smart DVI, and Tekmetric phones.

Product Announcements at Tektonic 2026

The closing session belonged to the Tekmetric product team. Drawing on data from more than 15,000 shops on the platform, Tekmetric President and COO Lauren Langston and Chief Product Officer Jared Haleck built the roadmap around key areas where winning shops consistently outperform the rest: car count, average repair order (ARO), driver experience, and cycle time.

Here's a look at what’s coming:

Tekmetric Digital Ads: AI-powered advertising on Google Maps and Search, built for the moment a driver has a problem and is ready to act. It connects directly to Tekmetric so you can see the gross profit behind every dollar of ad spend, not just clicks.

Smart DVI: Technicians walk the vehicle, narrate what they see, and Smart DVI builds the customer-ready inspection report automatically—findings organized, images annotated, and jobs pre-suggested for the estimate. Less time typing. More time turning wrenches.

Tekmetric Phones: Customer details, open repair orders, and communication history surface the moment an inbound call rings. No more looking it up while someone's waiting. A future capability in development will transcribe calls in real time and auto-populate appointment notes.

See You in 2027

Tektonic 2026 was Tekmetric's first industry conference, and it delivered on the promise Sunil Patel made from the stage: a room full of shop owners, service advisors, and technicians who showed up to get better.

The through-line across every session was the same. The shops that win are the ones that build systems, invest in their people, and keep getting 1% better. Not all at once. One thing at a time.

Registration for Tektonic 2027 is already open. We hope to see you there.

Legal Disclaimer: This article is written for informational purposes only and does not constitute professional financial advice. Please reference section179.org and a professional accountant for advice on financial planning and filing taxes.  

As 2020 comes to an end, you might be thinking about all of this year's expenses and wondering what you might be able to write off on your taxes. You may even be considering whether or not to make a big purchase, weighing the tax deductions you could get if you bought it this year versus next.

Is it worth buying that new lift before the year ends? Or should you put it off until 2021?

What is Section 179?

Section 179 of the IRS tax code allows business owners to write off the entire cost of a piece of equipment, renovations, or other assets in the first year instead of writing off an asset a little bit at a time over a five, seven, fifteen, or thirty-nine year period. To give an example, if a shop owner buys a new tire machine, they could either write off the taxes over a seven-year period, or they can use Section 179 to get the entire deduction in the first year.

What Type of Costs Qualify for Section 179?

  • Tangible business property, including machinery and equipment
  • Leasehold improvements
  • Computer software*

*Is Tekmetric Eligible for Section 179?

Generally speaking, off-the-shelf computer software that has been purchased outright is eligible for Section 179. Because Tekmetric is a web-based software and does not make users sign a contract, it is not eligible for section 179, but it does qualify for a standard tax deduction.