Quantcast
Jump to content

Salutations!

minutemanautoandmore@gmail
 Share

Recommended Posts

minutemanautoandmore@gmail Newbie

minutemanautoandmore@gmail

Posted
Posted

Hi all,

I stumbled across this forum while researching my new new auto shop I plan on opening 1/5/21. I have experience in business, quick lube, service writer, but limited technician experience. Im located in a small town (5k) in Missouri.  However, due the age of current shop owners in town, there is a lot of opportunity. Hope everyone has had a good week!

 

Link to comment
Share on other sites









rpllib Enthusiast

rpllib

Posted
Posted

I believe he just called us "old guys"! (and rightfully so!)

Welcome and congrats on your new shop opening. You truly are from a small town, which does come with a certain uniqueness, as it applies to operating an automotive service facility.

I recently shared the following with a group of shop owners.  I believe you can find value here if you chose. They require  an email address to download the resource listed, but it seems well worth it, and no one has contacted me or solicited me as a result. I have no connection to any of the firms or individuals listed, but I am a fan of good content and simple brilliance. I would concentrate on the book to start. It is filled with core information you will need. Imo, the portion on scaling your new business may be especially useful.

Here was my message published elsewhere:

"As we look to transition our business to the next generation, I have been assembling resources that I believe might be helpful in ensuring their success. Occasionally one of these resources jumps towards the top of the stack as it applies to core foundational reminders.

This book is one of those. https://paarmelis.com/your-perfect-shop-book-download/     It is more of a targeted short story written in large font on a small page format, and an evening read. . The author is a veteran CPA from a firm that specializes in automotive repair shops. They claim 450 auto repair clients, and they do have some impressive stores listed as clients. I like this organization. I have reviewed a few of their podcasts and webinars and they speaks/articulate well.   Many of us can find some value here, if we chose. 

The link below is to a webinar I came across that was put out by one of this firms young CPA's, interviewing an industry coach on a cash flow system that I had not previously heard of nor ever given much consideration. As the concept took hold, I immediately thought "simple brilliance".

I have now done what I do, which is to dig into the digital footprint of this "Profit First" concept and underlying for-profit industry. It is essentially the commercial version of the "consumer side industry" built around the teachings of Dave Ramsey. 

None the less, even after many hours of scrutinizing, I would still call the core foundation of this concept "simple brilliance". 

Typically, as most stores transition to the next generation of ownership, there can be a substantial change in the reserve cash a business has to operate on. This is one of the places this concept would make a real difference. The other is situations where a business has been in place for many years, but mostly has underperformed from a profit/cash perspective. 

For those that are not aware, overall we have a profit problem in this industry. Not everywhere, not with everyone, but I would suggest it is more common than not. 

The webinar is based on a cash flow process that has been lacking in my business for my entire career. It's an hour long and they really don't give you a good picture of it until you are almost an hour in. It is based on this concept:

 SALES MINUS EXPENSES=PROFIT---WRONG!

SALES MINUS PROFIT=EXPENSES---CORRECT!!!

I actually burst out laughing when this slide came up. It seems so simple and made sense to me immediately(because I had watched the webinar up to that point)

My goal is to make my successor better at running a service facility then I am, and more successful then I am. 

I have spoken to two of my banks and have appointments with both to discuss further. I meet with Chris Cotton (the coach in the webinar) and we may use him for implementation. He no longer participates in the "for-profit based" company that Profit First is built around, but like me, he believes in the underlying core concept. 

Early warning. NO ONE likes the part about the bank accounts, but i would contend that it is indeed our bank account balances, we pay the most attention to. "

Randy Lucyk

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share
Go to topic listing

  • Have you checked out Joe's Latest Blog?

    • Joe Marconi
      Want to End Your Technician Shortage? Focus on Retention!
      By Joe Marconi in Joe's Blog
         5 comments
      I recently spoke with a friend of mine who owns a large general repair shop in the Midwest. His father founded the business in 1975. He was telling me that although he’s busy, he’s also very frustrated. When I probed him more about his frustrations, he said that it’s hard to find qualified technicians. My friend employs four technicians and is looking to hire two more. I then asked him, “How long does a technician last working for you.” He looked puzzled and replied, “I never really thought about that, but I can tell that except for one tech, most technicians don’t last working for me longer than a few years.”
      Judging from personal experience as a shop owner and from what I know about the auto repair industry, I can tell you that other than a few exceptions, the turnover rate for technicians in our industry is too high. This makes me think, do we have a technician shortage or a retention problem? Have we done the best we can over the decades to provide great pay plans, benefits packages, great work environments, and the right culture to ensure that the techs we have stay with us?
      Finding and hiring qualified automotive technicians is not a new phenomenon. This problem has been around for as long as I can remember. While we do need to attract people to our industry and provide the necessary training and mentorship, we also need to focus on retention. Having a revolving door and needing to hire techs every few years or so costs your company money. Big money! And that revolving door may be a sign of an even bigger issue: poor leadership, and poor employee management skills.
      Here’s one more thing to consider, for the most part, technicians don’t leave one job to start a new career, they leave one shop as a technician to become a technician at another shop. The reasons why they leave can be debated, but there is one fact that we cannot deny, people don’t quit the company they work for, they usually leave because of the boss or manager they work for.
      Put yourselves in the shoes of your employees. Do you have a workplace that communicates, “We appreciate you and want you to stay!”

  • Similar Topics

    • Joe Marconi
      Should the Shop Purchase or Subsidize Technician's Tools?
      By Joe Marconi

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • Changing The Industry
      Episode 163 - Balancing Business Ownership & Technology With Gregg Rainville & James Harris of Steer
      By Changing The Industry
      Episode 163 - Balancing Business Ownership & Technology With Gregg Rainville & James Harris of Steer
    • Joe Marconi
      Business Has Slowed Down? Or Back to the Way it Was?
      By Joe Marconi

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • carmcapriotto
      Campfires & Carols: Building Culture Beyond the Shop with Coach Al & Kevin [163] - Chris Cotton Weekly Blitz
      By carmcapriotto
      The Weekly Blitz is brought to you by our friends over at Shop Marketing Pros. If you want to take your shop to the next level, you need great marketing. Shop Marketing Pros does top-tier marketing for top-tier shops.
      Click here to learn more about Top Tier Marketing by Shop Marketing Pros and schedule a demo:https://shopmarketingpros.com/chris/
      Check out their podcast here: https://autorepairmarketing.captivate.fm/
      If you would like to join their private Facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermind
      The Weekly Blitz is brought to you by our friends over at Shop Marketing Pros. If you want to take your shop to the next level, you need great marketing. Shop Marketing Pros does top-tier marketing for top-tier shops.
       
      Click here to learn more about Top Tier Marketing by Shop Marketing Pros and schedule a demo:https://shopmarketingpros.com/chris/
       
      Check out their podcast here: https://autorepairmarketing.captivate.fm/
       
      If you would like to join their private Facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermind
       
      In this podcast episode, Coach Chris Cotton from Auto Fix Auto Shop Coaching hosts a conversation with Coach Al and Kevin, a service manager, about the importance of team culture in an auto repair shop. They share their experiences with team-building activities like axe throwing, camping trips, and Christmas parties, emphasizing how these events enhance employee relationships and work dynamics. The discussion also covers their thoughtful approach to hiring and the necessity of appreciating staff. Coach Chris admires their methods and reflects on the value of investing in employees, while Coach Al highlights the inclusion of these practices in their hiring process to attract and retain a committed workforce.
      Culture and team building exercises (00:01:00) Discussion about the importance of culture and team building exercises in the auto repair shop industry.
      Creating a positive culture (00:02:50) Description of the strong chemistry and positive culture in the shop, emphasizing the importance of mutual support and camaraderie among the employees.
      Hiring process and culture fit (00:03:54) Insights into the hiring process, including assessing candidates for their skills and cultural fit through interviews and observations.
      Annual Christmas party and other events (00:06:02) Details about the annual Christmas party and other team-building events organized throughout the year, such as axe throwing and other outings.
      Christmas party preparations and employee appreciation (00:08:00) Discussion about the process of selecting personalized gifts for employees, the budgeting for the party, and the significance of showing employee appreciation.
      Appreciating employees through events (00:11:15) Explanation of the financial investment in employee appreciation events, such as the Christmas party, as a reflection of the shop's commitment to valuing and retaining great employees.
      Camping trip tradition (00:16:24) Origins and evolution of the annual camping trip, including the planning process, activities, and the inclusive nature of the event for employees and their families.
      Inclusive camping trip and its cost (00:19:07) Inclusion of employees' families in the camping trip and an overview of the costs associated with organizing the event.
      Maintaining order during the camping trip (00:20:32) Anecdote about managing noise levels and potential disruptions during the camping trip, highlighting the challenges of organizing a large group event in a campground setting.
      Camping Trip Planning (00:21:57) Discussion on the timing and survey process for the annual camping trip organized for employees.
      Employee Bonding (00:23:50) Kevin emphasizes the positive impact of team-building events on employee relationships and work dynamics.
      Investing in Employees (00:25:27) The importance of investing in employees and showing appreciation for their efforts is highlighted.
      Recruitment Strategy (00:26:05) Incorporating team-building events into recruitment discussions to emphasize employee appreciation and engagement.
      Connect with Chris:
      [email protected]
      Phone: 940.400.1008
      www.autoshopcoaching.com
      Facebook: https://www.facebook.com/
      AutoFixAutoShopCoachingYoutube: https://bit.ly/3ClX0ae
       
      #autofixautoshopcoaching #autofixbeautofixing #autoshopprofits #autoshopprofit #autoshopprofitsfirst #autoshopleadership #autoshopmanagement #autorepairshopcoaching #autorepairshopconsulting #autorepairshoptraining #autorepairshop #autorepair #serviceadvisor #serviceadvisorefficiency #autorepairshopmarketing #theweeklyblitz #autofix #shopmarketingpros #autofixautoshopcoachingbook
      Click to go to the Podcast on Remarkable Results Radio
    • Joe Marconi
      Can Companies Like Repair Pal & Open Bay help a New Repair Shop?
      By Joe Marconi

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.



  • nptrb

    Spring Clean Your Finances: 5 Steps Every Business Should Take

    By nptrb, in Automotive Industry,

    1 comment 552 views
    nptrb

    Understanding S-Corp Distributions and Draws | Are They Taxable?

    By nptrb, in Automotive Industry,

    0 comments 769 views
    nptrb

    Tax Season Preparation: A Comprehensive Guide

    By nptrb, in Automotive Industry,

    1 comment 648 views

  • Our Sponsors










Main Sections

More Sections

Discussion Forums

×
×
  • Create New...