Accounting, Profitability, & Payroll

https://youtu.be/rhL9fPkTosM Maylan Newton from ESI – Educational Seminars Institute is a business coach, trainer and industry speaker. Maylan is no stranger to the podcast having paid it forward many times. He is a much sought our speaker at industry events in the US. Find Maylan’s previous episodes HERE. “He is ‘just a car guy’ with lots of knowledge and is brave enough to talk about it”. Maylan’s purpose is to educate leaders to be a better owner or service writer. Carlo Sabucco, 2nd generation owner of Sil’s Complete Auto Care Centre. My father started the company September 1976, I joined in 1994 and succession of ownership in 2009. Company is now a 7000 square foot facility with 8 bays and 6 wonderful team members. I would never be here today without the team, the help of some amazing coaches, my peer group for the last 16 years, and lastly my wife Melanie. The last 2 years has been a steep learning curve of C Suite coaching, personal development, learning to be a better leader and focusing on where the industry will be in 5-10 years and preparing for it. Listen to Carlo’s other Episodes HERE. Glenn Larson, Foothill Autoservice, Lake Forest, CA Key Talking Points  Defining “what is worth”The value equivalent to that of someone or something under consideration The level at which someone or something deserves to be valued or rated We are here to push you to rethink your labor ratesBuild your customer base to people that want to pay your price to have you maintain their vehicles Weed out customers who don’t want to pay the rates 80/20 Rule - 80% of your profits come from 20% of your customers Successful yearReputation Word of mouth advertising Focus on your peopleCustomers Employees Emotion is a big driver in worth and what we charge 3 angles of worthWorth of the businessThe right tools The right technicians Do you believe in your employees Worth of the mathematicsFormulas Calculations Are you the owner-worthy? Does your facility warrant what you charge?Can you walk thru your place and say “I actually should be charging more?” Do I need to clean house here and change things around to make it look a little better? Do I need better tools? If you don’t look like you belong, no one will pay your ratesUse good parts Have certified technicians We get paid for our knowledge, not what we do The business is meant to work for us, we’re not there meant to work for it Every shop in every area is differentRaise labor rates 2% every quarter How to’s and why’s of figuring out what to chargeKnow that you have to charge more Know the value of your business The cost of doing business Running the business on “jingle factor” is not P&LFocus on net profit What net do you need? Why do you need net? Paralysis by Analysis  Final thoughtsGlennIf you have more self respect for yourself and realize what you’ve put into the industry and what your value is to this industry, this will help you charge what you’re worth Your customers want you and your team to take care of their car and they will pay what you charge CarloYou gotta make money because no one will be at your retirement party because you didn’t know how to run a business. If you don't make money, they’re not gonna be there to write you the check to take care of you in retirement. If your business goes under, it’s your fault MaylanWe have to understand our business Profit is not a bad word If something happens to you right now, how is this business gonna support your family with day to day expenses Your employees depend on you to make a profit so you can stay in business The value to your customer Resources: A special thanks to Maylan Newton, Carlo Sabucco and Glenn Larson for his contribution to the aftermarket. Books Page HERE Listen to all Remarkable Results Radio, For The Record and Town Hall Academy episodes. Facebook   Twitter   Linked In   Email Mobile Listening APP's HERE Join the Ecosystem - Subscribe to the INSIDER NEWSLETTER HERE. Buy Carm a Cup of Coffee  This episode is brought to you by Shop-Ware Shop Management. It’s time to run your business at its fullest potential with the industry’s leading technology. Shop-Ware Shop Management will increase your efficiency with lightning-fast workflows, help your staff capture more sales every day, and create very happy customers who promote your business. Shops running Shop-Ware have More Time and generate More Profit—join them! Schedule a free live demonstration and find out how 30 minutes can transform your shop at getshopware.com This episode is brought to you buy Shop Marketing Pros. Your guides are Kim and Brian Walker with a rich history as shop owners and industry veterans. When someone searches for a shop, who are they finding? Your competitors? It should be you! The good people over at Shop Marketing Pros know how to drive website traffic and make Google work for you! www.shopmarketingpros.com Click to go to the Podcast on Remarkable Results Radio

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January 2020 started without a hitch. We hit our sales and profit goals in textbook fashion. However, by the end of February, it was obvious that something wasn’t right. Sales for the month dipped by more than 30 percent. It was devastating. What we didn’t realize was that this was just the beginning of even greater losses. By the time Governor Cuomo of New York issued the stay-at-home order on March 22, sales had dropped 75 percent. With most of the country in lock-down, I didn’t know what to fear more—the coronavirus or the impending financial disaster the world was about to endure.   Before we go on, it’s important that we all remember those that have lost their lives due to COVID-19.  As in any crisis, there will be suffering. However, as a society, we must not dwell on it or let the crisis beat us. We must find a way to fight it and succeed.   When the impact of the virus first hit, emotions filled my mind every waking moment, mostly due to the uncertainty of the situation. Then, reality set in and all I could think about was my obligation to others. As an essential part of the community and the nation, it was my obligation to keep the doors open and be there to make sure that those that needed to get to work, could. If we were to win, survive and thrive, we had to create a winning environment. That meant that I had to elevate my leadership to a new level, put the health and welfare of my staff before anything else and realign my goals. In the coming days and weeks, I would get a working man’s PhD on how to win in times of crisis.  The first lesson learned in all this is to have the right mindset. We can’t look backward in time or wait around for a return to what we perceived was once normal. Looking forward and building a new future is all that matters. If you tell yourself, “the sky is falling.” It will.  Negativity spreads like a virus and infects everyone around you. Your mind shuts down in panic mode, clouding your judgment and mentally and physically paralyzing you. You must remain mentally strong and positive, even when you know the brutal facts of the situation. This is crucial. You, the leader of your shop, cannot lead others if you show fear and negativity. Be human, show emotions, but have the mental fortitude and show your team that we will get through this crisis.  The next lesson is to make sure you have the right people around you. A strong team with the right culture is important in business. In times of crisis, it’s the difference between success and failure. As the weeks unfolded, it became clear to me who my leaders were. It would be those employees that I would turn to in order to maintain morale and lift everyone’s spirit. Leaders cannot succeed without having the right team around them. Take a look around you. Do you have the best employees with the right attitude? If not, begin the recruiting process today.  Realigning my goals and understanding my new key performance numbers was next up. My 2020 business plan, created in December 2019, had little meaning by mid-March. I am not admitting defeat for the year by any means. Rather, we now have new objectives and a clean slate. From this point on, it is critical that we remain profitable: watching every expense, tracking production, keeping payroll within budget, and building for the future. The past is the past, it cannot be changed. What we have now is the opportunity to make each day better than the day before.  Perhaps the biggest lesson learned was more of reminder than a lesson. It’s that above everything else, people come first.  All the planning, goal setting, marketing and number crunching mean nothing unless you understand that you, as a shop owner, have the power to achieve great things by your words and actions. Yes, it all goes back to leadership and understanding your obligation you have to others. All of us will have different lessons learned from crisis.  Which means, there is great opportunity on the horizon. Use those lesson to make your tomorrow better than yesterday.  My hope is that by the time you read this article, COVID-19 will be well under control.  Human interaction is crucial to our overall well-being. We need not only, the emotional touch of another person, but also the physical touch of others.  While Facetime and Zoom will get us through, it will never replace a good old fashion handshake and a hug.  This story was originally published by Joe Marconi in Ratchet+Wrench on June 5th, 2020 View full article

Nick is on the front lines of customer service each day. He is a talented service advisor, with a passion for helping others. Nick and I often debate what’s more important to the customer: price or value? He’ll often tell me, “I know you preach value, Joe, but people care about price, too. In the end, price is a major concern.” I always respond, “Nick, it’s not all about price, it’s really about value. Build a strong relationship, reach the customer emotionally, have them believe in you and they will trust you. And when that happens, price will not be the focus.”   Here’s the reality. I would be lying to you if I told you that price has absolutely no bearing on a person’s decision to buy from you or not. However, are consumers only interested in price? I know that sometimes it may appear that way, but the bottom line is this: being competitive and profitable is a fine line we walk each day. When the perception of value diminishes, price then becomes the focal point.  Nick, who debates me on the philosophy of value, learned a valuable lesson recently, which made him a believer that there is most definitely a difference between value and price.   About a month ago, a first-time customer called us to ask if we could take a look at her son’s tire, which was losing air pressure. Nick took the call and said, “Sure, we would be happy to help you.” He took down all the needed information and let her know that he would follow up with a phone call as soon as her son arrived.   When the son arrived, Nick wrote up the car and dispatched it to a technician and then called the mother to let her know that her son had arrived. He also let her know that he would call her as soon as he knew something about the tire.  About ten minutes later, the tech informed Nick that the tire was damaged from riding with too little air pressure and that the tire would have to be replaced. He also said that the other three tires looked new and that it would not be a problem replacing the one tire.          Nick prepared an estimate for the tire and called the customer. Nick explained why the tire needed to be replaced and let her know that we could have the tire installed and have him on his way in about an hour or so. Nick then gave her the price for the job. The mother replied with, “Ok, give me five minutes and I will call you right back.”  Fifteen minutes later the mother called, and said, “Nick, I found another shop that will install that same tire for $50.00 less than you can do it for.  So, can you put air in the tire so I can have my son drive it to the other shop?” Nick thought for a second and responded, “putting air in the tire and having your son drive his car to the other shop is not safe. Here’s what I will do. I will have my technician put the spare on the car. He’ll also check the tire pressure in the other three tires. Afterall, we want to make sure that your son is safe.” The mother thanked Nick and hung up the phone.   A few minutes later, the mother called again, asked for Nick and said this, “You know Nick, you were so nice to me from the very beginning when I first spoke to you and right up to now, and you put my son’s safety first. You also didn’t try to force me into buying your tire. Please install the tire at your price.” Nick, now on cloud nine, hung up the phone and told the tech to finish up the job.   Nick learned a valuable lesson that day. He learned that he didn’t sell a tire—he sold something much greater. He sold an emotional feeling. He reached the customer on an emotional level and the price of the job became less important. Does this work with everyone? Of course not. But, if you want to make more sales and build the right clientele, sell value, sell relationships and sell a positive emotional feeling.  Later that day, Nick told me what happened. I could tell that he was proud of how he handled the situation. And he should be. I just listened as he told me the entire story and relived the moment. After he had finished, I calmly asked him, “So Nick, is it really all about price?” Nick just smiled.  This story was originally published by Joe Marconi in Ratchet+Wrench on May 5th, 2020 View full article

TORONTO (PRWEB) FEBRUARY 18, 2021 Constellation R.O. Writer Inc., which is part of the Perseus operating group of Constellation Software Inc. (TSX: CSU), announced the acquisition of TBC Corporation’s R.O. Writer business, a shop management software provider for franchise and independent auto repair shops. R.O. Writer’s head office will continue to operate from Palm Beach Gardens, Florida. As one of the market leaders in the industry, R.O. Writer has a long history of success serving independent and franchise automotive repair shops. TBC will renew its focus on its core operating areas – wholesale, franchise stores and company-owned retail stores – and has entrusted the R.O. Writer business to Constellation Software Inc. Constellation was chosen for its proven track record and commitment to helping software companies live up to their potential. “We’re confident that Constellation is the right organization to take the R.O. Writer platform to the next level for its large customer base of Midas franchisees as well as fellow leaders in the automotive aftermarket industry,” recognized Erik R. Olsen, President & CEO of TBC Corporation. “Constellation’s proven track record of providing customers with quality software solutions focused on helping customers meet and often exceed their objectives coupled with the potential of the R.O. Writer platform with developments just over the horizon makes this a very exciting time for the business and for all parties involved.” “The acquisition of R.O. Writer represents a platform investment for the Perseus Group in the automotive repair shop software industry,” said Adam Zimmer of the Perseus Group. “We are looking forward to advancing the development of the product to meet the needs of the thousands of retail and Midas customers.” The R.O. Writer business will continue to support and enhance the R.O. Writer family of products for retail customers and Midas franchises. About R.O. Writer R.O. Writer is an industry leading shop management software solution for automotive repair shops, with a focus on helping customers in the areas of time management, inventory management, accounting, and communication. For more information, visit http://www.ROWriter.com. About Perseus The Perseus operating group’s businesses provide software solutions to a number of vertical markets. As an operating group of Constellation Software Inc., Perseus acquires, manages, and builds software businesses which provide specialized, mission-critical software solutions. Perseus companies seek to become leaders in their markets by improving their operations, growing through organic initiatives, and seeking acquisitions that can strengthen their market position. About Constellation Software Inc. Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation Software acquires, manages and builds vertical market software businesses. Further information about Constellation may be obtained from its website at http://www.csisoftware.com. About TBC Corporation For more than 60 years, TBC Corporation (TBC), one of North America’s largest marketers of automotive replacement tires through a multi-channel strategy, has been a tire company ahead of the curve. Through worldwide operations spanning wholesale, retail, and franchise, TBC provides customers top tier brands and automotive maintenance and repair services with the underlying mission to exceed customer expectations. TBC serves wholesale customers in the United States, Canada and Mexico through TBC Brands, National Tire Wholesale (NTW), TBC International, and TBC de Mexico. Additionally, TBC responds to the needs of consumers in search of total car care at more than 600 company-operated tire and automotive service centers under the brands Tire Kingdom® Service Centers and NTB® Tire & Service Centers. TBC, through a subsidiary, also owns the Big O Tires® and Midas® franchise systems. Perseus Contact: Adam Zimmer +1-226-444-8044 TBC Contact: Jamie Levin 561-383-3000 x2527 https://www.prweb.com/releases/r_o_writer_joins_perseus_an_operating_group_of_constellation_software_inc/prweb17735809.htm  

Matt Fanslow is the diagnostic tech/shop manager at Riverside Automotive in Red Wing, MN. His primary responsibilities are to diagnose driveability and electrical/electronic issues, and perform most all programming, coding, initializing, adoptions, etc. Basically, if it needs to be figured out or has wires, it goes to Matt. He’s been a tech since 1996. Matt is also a subject matter expert for ASE and has instructed at Vision Hi-Tech Training and Expo. Matt has participated on 18 ASE technical committees for the ASE Practice Test, A6, A7, A8, and L1 tests. He’s also done case studies for Standard Motor Products. Fanslow’s goal is to do everything in his power to improve the overall level of professionalism within the automotive and light truck repair trade and also raise the level of its public image. Matt Fanslow’s Previous Episodes HERE. Key Talking Points: Fire in business- January 15thThe vehicle came into the shop in the evening to be serviced the following day Everyone left before 6 pm, by 6:25 pm the fire department was called by passerby pedestrian The shop had security cameras but no smoke detectors. Engine compartment towards 12volt battery of vehicle was where fire had started   The building doesn’t have to be rebuilt but the rafters and trusses are damaged- heat tempers wood and it loses its “binding’ properties  Was newer vehicle- depending on cause this is how recalls are createdAn insurance investigator and manufacturer investigator- the vehicle will often be taken off-site to have a thorough forensic investigation to find out the cause Luckily there weren’t significant damages to the tools/equipment/diagnostic machine, inventory and employee tools/equipment - you’re facing fire/smoke and water damage from fire department     Expected to be fully operational again by mid-late Fall 2021    Business interruption insurance Looks at what your business was producing prior to the interruption  A fixed amount of money to be pulled for paychecks etc  2 bays- tech works 40 hours a week, bill out 20 hours working in the bay (shop pays from own checkbook from funding) the other 20 hours they are cleaning/inventorying the shop and ‘working for insurance’  What you can do ahead of time- be proactive Invite fire marshall to come to shop- document shop layout/entrances   Fire trucks have tablets in them- when they get called to a location any information about the building can be used  Purchase from fire department safe for outside of building with keycodes to avoid damage from entering during emergency  Map out your disconnects- gas/water/electricity  30-45 seconds can make the difference between going from bad to really bad in a fire Research and become familiar with your insurance coverage plan and educate your employees on it- can they get homeowners insurance on their equipment?   Inventory what you have in the shop- what is the cost of replacement?  Consider ‘cleanup’ investments after a disaster  Also, consider fire doors Link fire detectors to EMS Shop tour before the fire- Aftermarket Weekly Episode 30. Click Here. THA 161- Insurance coverage review Part 1. Click Here. THA 172- Insurance reviews “what if scenarios” part 2. Click Here.   Resources: Thanks to Matt Fanslow for his contribution to the aftermarket’s premier podcast. Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers. Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP's HERE Find every podcast episode HERE. Every episode is segmented by Series HERE. Key Word Search HERE. Be socially involved and in touch with the show: Facebook   Twitter   Linked In   Email Join the Ecosystem - Subscribe to the INSIDER NEWSLETTER HERE. Buy me a coffee As a member of the NAPA family, AutoCare Center owners can take advantage of the NAPA National Health Program from the NAPA Insurance Center. This “NAPA only” program gives you and your employees access to national “large group” rates on medical insurance with premiums discounted up to 30 percent. These rates are based on the collective purchasing potential of 22,500 NAPA locations including both NAPA AUTO PARTS stores and NAPA AutoCare Centers. The NAPA Insurance Center can help you with a variety of other insurance benefits too. For more information about The NAPA National Health Benefits program as well as all of the insurance benefits available to your AutoCare Center and your employees, visit the NAPA Benefits Center, at www.napabenefitscenter.com or call the NAPA Benefits Center at 844-627-2123. Click to go to the Podcast on Remarkable Results Radio

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