Rankin Transmissions SBDC Success Story
Economic Impact
- Business Expansion
- 5 Jobs Retained
- BPC Grant
Rankin Transmissions has been a trusted part of San Angelo’s auto repair industry for over 60 years. As a second-generation business owner, Stephen McLaughlin continues the family business, focusing on quality service and strong ties with the community. Under his leadership, Rankin Transmissions has continued to serve West Texas with reliable transmission repairs and rebuilds.
In 2024, Stephen set his sights on a new growth opportunity: expanding into the remanufactured transmission sales market. This strategic pivot would allow the company to diversify revenue, increase local inventory, and serve a broader customer base across the region. To support this move, Stephen entered the 2024 San Angelo Business Plan Competition, seeking both funding and feedback to sharpen his vision.
Stephen partnered with the ASU SBDC, where he worked closely with Senior Certified Business Advisor James Leavelle and student advisor Zian Mares. He received hands-on support in refining his financial projections, market analysis, and business narrative. Their collaboration led to a compelling plan that impressed the competition judges. Rankin Transmissions won 1st place in the competition, securing $50,000 in grant funding. These funds are now being used for the company’s expansion, such as building inventory and laying the groundwork for a future facility dedicated to distribution.
This milestone not only preserved local jobs but also marked a new chapter in the business’s long-standing legacy. With guidance from the ASU SBDC, Rankin Transmissions is ready to grow and serve even more customers across the region.
“The advice and contributions of James Leavelle and student advisor Zian Mares of the Small Business Development Center were instrumental to the success of my entry in the 2024 Business Plan Competiton.”