Virtual Profit Solutions takes over the former PNC building in New London

Ellen Simmons
·3 min read
Mike Dyer has taken over the former PNC building in downtown New London and started a new business called Virtual Profit Solutions.
Mike Dyer has taken over the former PNC building in downtown New London and started a new business called Virtual Profit Solutions.

NEW LONDON – Mike Dyer has taken over the former PNC building at 24 E. Main St. downtown and started a new business called Virtual Profit Solutions (VPS).

A graduate of Canton's McKinley High School, Dyer became a military police investigator in the Army. After being discharged in 1983, he worked in the automobile industry for more than 30 years, starting as a salesman and quickly working his way up through the ranks, eventually serving as the director of operations for an Ohio 10-store automotive group.

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He married New London native Shannon Perkins in 2007. A few years later, he began thinking about becoming his own boss and in 2017 started Key Profit Solutions (KPS). In this business he works with car dealerships providing auto protection products. He offers consulting, training and the products themselves and has built a successful company, which today employees eight full-time staff members.

Dyer realized there were many small used car dealers out there who might be able to use the same services. Dyer and his long-time production director with KPS, New London native Ben Harrison, partnered to form Virtual Profit Solutions (VPS).

Needing a location for both businesses, Dyer purchased the former PNC location.

VPS business expected to grow, add workers

VPS took what KPS offers and expanded it to, “a complete finance department solution for independent dealers,” according to a company brochure.

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Dyer says this means, “We take over their complete finance department, with everything done electronically, and supply them with services formerly only available to the large dealerships.”

The newest business, VPS, has 6 employees, but Dyer foresees that number growing to 40 or even 50. Also, plans include regionalizing into the Carolinas. In addition to Ohio and the Carolinas, they also do business in Pennsylvania, Wisconsin, Michigan, Missouri and Tennessee. All are served from the New London location.

Dyer served as a speaker at the Ohio Independent Automobile Dealers Association convention last October and will be the keynote speaker at the Carolina Independent Auto Dealers Association convention in August.

Plans for the former bank building include taking the front exterior, “back to its original look,” and repairing the clock. The interior will be rehabbed as necessary to accommodate the growing workforce, but the two bank vaults will remain.

Dyer said they chose New London because, “My wife loves her town and I love it too.”  He admits to missing some of the amenities of a city, but believes New London is a great place to raise their family.

Dyer is passionate about his business, and family comes first.

love my family and love being a father," he said. "My job is to care for them.”

The family camps at the New London Reservoir Park, and in his spare time Dyer works out in his home gym and plays golf.

For more information about KPS or VPS, call 419-577-6011 or email mdyer@keyprofitsoltions.com.

This article originally appeared on Ashland Times Gazette: Mike Dyer opens Virtual Profit Solutions in New London