Auto Parts Banner Programs

Thanks for the info. I think you made the right decision. 

No wholesale for other shops.  I avoided warranty companies like the plague, mainly because of the hassle factor of plugging up our production.  We only did retail jobs and left the rest to other shops to do.   We had plenty of work to do.

Did you do wholesale work, work for other shops?  And also for warranty companies.  Were there different labor rates for these, and how did you maintain a decent profit margin?  

We had different labor rates for different jobs.  Sometimes it was because of the difficulty, and other things like risk.  We had our labor rates at the lowest, plain vanilla, straight jobs.  If the vehicle had been chipped, twin turbos, high flow heads, exhaust, or deleted emissions, part labor for those types of vehicles carried a higher premium labor rate.  For me, it's not just about the money as it was about managing risk. We commonly found when customers make a horsepower/torque range change, the first thing that goes is usually the factory original transmission.  With diesels, this is especially true.  The transmission simply is the weak link in the drivetrain.  They were never meant to handle that much power.   Sometimes it was the extra hard parts/upgrades that drove the price up, which is additional parts on top of the increase in labor.  Our ARO for major jobs was about $3,600 as of 2015.

A critical strategy that should be consider by shop owners!  Excellent podcast! 

Once again, Hunt brings clarity and great information to shop owners! 

With labor rates going up, one concept me also need to consider is multi tier labor rates. For example, performing jobs on heavy trucks is different than work on a Honda Civic, or Toyota Corolla. Also, if you do complicated computer work, electrical and driveability, that requires your top tech with the most expensive tools and training. And those jobs have no part profit. Shouldn't this be billed at a higher labor rate? Do you have a tier labor rate strategy?  I would like to hear from other shops.   

Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Rich Falco and his twin sons, Zack and Tyler, discuss the intricacies of family business succession in the automotive industry. The Falco's share their personal experiences, emphasizing the value of learning through challenges and the significance of understanding both the technical and business aspects of the industry. They explore the dynamics of customer interaction, continuous professional development, and the evolving nature of automotive technology. Rich Falco, Diag on Demand, Instructor at Carquest Technical Institute. Listen to Rich’s previous episodes HERE Zack and Tyler Falco, Diag on Demand. Show Notes Watch Full Video Episode Succession and grooming (00:00:51) Discussion about succession, grooming, and growing young talent in the automotive industry. Training and learning experiences (00:01:34) Rich discusses letting his sons fail and learn while working together in the business. Challenges of being a mobile technology specialist (00:04:10) Zack talks about the challenges of being a mobile technology specialist and learning to interact with customers. Learning from experience (00:05:29) Zack and Tyler discuss their learning experiences and the importance of admitting when they don't know something. Future of the business (00:09:04) Rich discusses the challenges in generating revenue and the potential changes in the industry for mobile work. Working together as a family (00:15:10) Tyler shares his experience of working with his dad and brother, highlighting the dynamics of their working relationship. Learning from Job Experiences (00:16:05) The speakers discuss the continuous learning experience and the value of mistakes in their work. Passion for Working with Hands (00:19:00) Zack expresses his enjoyment of working with hands and the satisfaction in understanding the technical aspects of his work. Diagnostics and Gray Areas (00:19:47) The conversation delves into the complexities of diagnostics, the gray areas in the auto repair industry, and the appeal of clear-cut logic in technical work. Changing the Perception of Technicians (00:22:18) Challenge the traditional perception of technicians and advocate for a shift towards recognizing them as technology specialists. Transition to Advanced Technology (00:23:44) The conversation highlights the transition to advanced technology, including the need for specialized equipment and the future of automotive technology. Business Education and Succession Planning (00:25:40) The importance of business education, succession planning, and the need for understanding the financial aspects of the business are discussed. Client Experience and Problem-Solving (00:29:34) The significance of following up with clients and the emphasis on problem-solving to build strong relationships with customers is highlighted. Succession and Family Business (00:32:39) Discussion about the succession and future of the family business with Rich, Zach, and Tyler Falco. 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