All Activity
- Yesterday
-
Accu-Tech Auto Centre changed their profile photo
-
Metric Motors started following Should the Shop Purchase or Subsidize Technician's Tools?
-
We provide major equipment and some specialty tools, but for the most part, the technicians are responsible for providing their own tools. Having said that, Offering a spiff or a bonus of a credit on the tool truck can be a great incentive to increase performance or productivity. Especially for a tech in his first few years trying to build up their tool collection.
-
DUFRESNES started following Should the Shop Purchase or Subsidize Technician's Tools?
-
Some of our ASE certified technicians have in excess of $50K. When it comes to specialty tools, it depends if we will use it again or not. We have a small box to keep shop tools in if they are not owned by the technician. What happens if that tech moves on, he thinks they are his. In Oregon, not all shops, but if the person in charge of PP tax has now decided we have to pay tax on their tools. I have argued we don't own them. Their reasoning is but you make money off of them. I asked if all the dealerships pay PP tax on the tech's tools. No only if we find out. What does that mean?
-
Accu-Tech Auto Centre joined the community
-
nptrb started following Looking Ahead: Financial Planning Strategies for the Future
-
Is your lack of financial planning for a successful future keeping you up at night? If so, you’re not alone. In fact, over 50% of Americans don’t plan for their financial future regularly. Many times, this is because they’re unaware of what to plan for, so they sweep it under the rug to deal with another day. As a business owner, it’s critical that you have your assets in place for when the future arrives! Read on for five must-have strategies to help you secure a healthier financial future. Create a budget. Giving every dollar in your business a job will help you utilize your money intentionally. When you have a defined budget, you know exactly where your money is going so you can make the right decisions for a financially fit future. To create a budget, estimate your monthly expenses and revenue and create your budget from there to ensure you remain profitable. This will help you identify where you can cut costs, increase revenue, and put more profit in your pocket for the future. Here’s an example of a budget breakdown. *Note: Please keep in mind that yours may look different depending on your specific needs. Business expenses such as rent, utilities, equipment, inventory, etc.: 55% Employee expenses such as salary & payroll taxes: 25% Business insurance: 5% Retirement: 5% Paying yourself: 10% Online software programs like Tekmetric are designed to help automotive businesses create a budget, manage inventory, and stay on track with real-time data. Build an emergency fund. Unforeseen events will arise in your business from time to time. An emergency fund will act as a cushion when these occur. Having extra funds for those just-in-case moments will help you navigate emergencies without accruing unwanted credit card debt or loans. We recommend building an emergency fund with enough cash to cover six months of expenses. Creating a separate account for this will help you avoid accidentally dipping into these savings. Diversify your revenue streams. The market can be unpredictable, which is why we encourage our clients NOT to put all of their revenue eggs in one basket. Relying on one income stream can be risky because there is always the potential for it to dry up. Instead, explore different ways to sell your services and products. Can you market your products and services to other demographics? Can you develop partnerships with other businesses in the industry? Can you expand your sales channels to include additional platforms? Can you create customer retention strategies such as loyalty programs? Invest in your employees. Your employees are the cogs that keep your business running. Investing in them will set the wheel up for sustainable growth. Providing quarterly or yearly training to keep up with market trends and updates gives your business a competitive edge and a well-known reputation in the community. Healthy reviews and positive word-of-mouth due to top-notch service lead to more customers through the door for an increase in revenue over time. However, we understand that employee retention can be a concern when it comes to investing in their careers. What if you spend money on training, and they decide to quit a few months later? Consider implementing an employee incentive program to help reduce the risk of wasted funds. Performance-based bonuses, recognition awards, and employee appreciation gifts are just a few of the ways to promote a healthy work environment that will help retain your team. Have the right insurance policies. Insurance policies give you peace of mind that you will have financial security despite any bumps in the business road. Different types of insurance offer different benefits, so it’s important to carefully consider policies appropriate for your business. A few types to explore include general liability insurance, property insurance, business interruption insurance, worker’s compensation insurance, commercial auto insurance, product liability insurance, and employment practices liability insurance.
- Last week
-
Wow, 55 Year in Business, That's an accomplishment! ...with that amount of years, your business is a land mark for the city/town where you live. Your business is 55 years old, I am 52 years old and my business is 10 years old. We have had our ups and downs but I started this business from scratch.. I don't considered myself a mechanic since I did not go to school for that. I am an Entrepreneur/accountant that got retrained 10 years back to do Brakes & Suspension work. ...and Yes, I come from a family of Mechanics, I just did not enjoyed it when I was young, now I loved it It's harder for a younger business to even consider the thought of competing with a 55 year old. HOW? The business itself has it's path and journey, at that age of a business, somebody will come through the front door, it could be minor activity or a lot of it. Now reaching goals and owner's expectation is something totally different! Congratulation I just hope one day our business can reach to that age, and that would be up to my kids...
-
mikezat started following Best way to get rid off excessive filters inventory?
-
mikezat joined the community
-
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
-
Jimmy M Kraft changed their profile photo
-
Joe Marconi started following Should the Shop Purchase or Subsidize Technician's Tools?
-
The cost of tools, the toolbox and all the specialty tools needed these days is overwhelming. It's also hard to determine at times, what is a shop tool and what belongs in the tech's toolbox. Some tool boxes cost in the 10s of thousands of dollars. Should the company either supply the tools, pay for the tools or in some way subsidize the expense of a technician's tools? Or is it up to the tech to continue to invest in his or her future?
-
The lure of cheap rent is a universal rookie mistake resulting in a low/no traffic count. Cheap buildings are affordable for a reason. One of the best pieces of business advice I ever got was, "Expensive rent is the cheapest advertising you'll ever buy." From Roy H. Williams in Austin, TX. With a killer location, a shop won't need Repair Pal or Open Bay.
- 1 reply
-
- 1
-
- repair pal
- openbay
-
(and 1 more)
Tagged with:
-
I have a good friend of mine who is starting a repair shop, but his location is not good. In fact, he gets virtually no traffic. Now, I am not the biggest fan of Repair Pal, Open Bay and similar companies, But could these type companies help a start up, just to get cars coming to his shop?
- 1 reply
-
- repair pal
- openbay
-
(and 1 more)
Tagged with:
-
Well, I am old, been in business 55 years. What I have found and continue to do. You know what has worked in the past, because you always monitor it. If it doesn't work, get rid of it. We are on the west coast. As of today, we are up 39% for the year. That includes being shut down a whole week for a storm. I will say it has slowed down to the effect of we were making appointments out a whole week, now we are working on the current week. A couple things I will say is, know when it might be slow and do what it takes. For us it is our rebate check $39.23 mailed out in 3 groups, February, March and April. Our new snail mail to new customers 3 times over 6 weeks. Probably the best thing we have done is have the phones forwarded to either my daughter or me. We have Log me In on our home computers and can make appointments on the week-end. We have almost every month something going on from coat drives to Free brakes with donations for the food bank. Loaners were are biggest thing, especially after Covid. No more rides. We have a really small parking lot. We encourage our customers to pick up as soon as possible . No care leaves without paying.
-
I know exactly what you are describing. In my 41 years in business, I lived through many economic rollercoasters. You also make great points. I agree, we are in different times, and I don't know why some areas around the country are affected more than others. One thing I do know, doing all you can with the customers right in front of you every day is crucial for future success. Business is never easy, especially the auto repair business. Keep pushing, create the right culture in your shop, take care of each customer, and continue to market for new customers. Keep us posted and good luck.
-
BigAl27 joined the community
-
Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Recorded at the 21st annual TST Big Event, Sherwood Cooke shares his journey of running his business for 28 years, his success with social media, especially TikTok, under the moniker 'The Professor,' and the impact of digital content on attracting a wide customer base even from hours away. Discover the evolution of Cooke's business practices, the significance of ethical service, community engagement and how to build a team culture through understanding and investment in people's lives. Sherwood Cooke, Royalty Auto Service, St Marys, GA. Show Notes Living in Saint Mary's (00:00:35) Discussion about the location of Saint Mary's, Georgia. Sherwood's experience with social media (00:00:57) Sherwood's success on TikTok and YouTube. Deathtrap of the month (00:03:43) Discussion about a series featuring problematic cars. Client vs. customer (00:04:44) Sherwood's business philosophy on treating customers as clients. Challenges and benefits of social media (00:08:21) The time-consuming nature of social media and its impact on business. Starting a business with limited resources (00:10:23) Sherwood's humble beginnings and journey to success. Evolution of business model (00:13:25) Transitioning to a more sophisticated and higher-priced service model. Business principles and pricing strategy (00:14:08) The impact of pricing and service offerings on client base. Business Acquisition (00:17:23) Sherwood's experience of seizing a business opportunity and the importance of proactivity in business growth. Future Store Plans (00:19:13) Discussion about the potential opening of a third store in Florida and the patience required in business expansion. Family Involvement (00:22:14) Sherwood's family involvement in his business. Junior Technician Program (00:24:22) Sherwood's initiative to involve children in learning about automotive repair through hands-on experience. Ice Hockey Coaching (00:26:07) Sherwood's experience coaching ice hockey and the impact on his life and his son's involvement in the sport. Participation Trophies (00:28:16) Discussion on participation trophies and the impact on children's motivation and memories. Stay Out of the Rabbit Hole (00:29:44) Sherwood's class on avoiding pitfalls in automotive diagnostics and the importance of self-awareness and common sense. Making People's Lives Easier (00:32:38) Sherwood discusses the importance of making people's lives easier, including clients, team members, and vendors. Creating a Positive Culture (00:34:17) Sherwood emphasizes the significance of building a positive culture within the team and the time it takes to create it. Hiring Process (00:35:50) Sherwood explains his unique five-interview hiring process, including interviews with him, his son, and a team member, as well as meeting with the candidate's family. Weeding Out Unethical Behavior (00:37:05) Sherwood shares a story about weeding out unethical behavior during the hiring process and the importance of integrity in candidates. Learning from Hiring Mistakes (00:41:50) Sherwood and Carm discuss the importance of learning from hiring mistakes and the need to evolve in the hiring process. Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Get ready to grow your business with the Automotive Management Network: Find on the Web at http://AftermarketManagementNetwork.com for information that can help you move your business ahead and for the free and informative http://LaborRateTracker.com Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections Click to go to the Podcast on Remarkable Results Radio
-
Savvas Automotive joined the community
-
Phil Purkiser changed their profile photo
-
diautoservice joined the community
-
Good day to every one and very thankful for the responses, everything helps. I already took some action and reduced our advertising to the zip codes where we get the most on google ads. working up on a list of follow up from our current customers Also working on an advertising campaign for the coming holiday, Memorial Day and the summer, it's just around the corner and the traveling starts right after the memorial day, since school is out. Thanks again, I will come back with a report right after the end of this month