Accounting, Profitability, & Payroll
A sale must bring profit, if it doesn’t It’s a loss. Accounting is a major part of any business. Are you in control of your accounting and profitability? Are you controlling your payroll to be profitable?
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It certainly seems that our current administration would love to see the EV’s dominate our country as soon as possible. They fail to acknowledge regardless of the fact that the required infrastructure of charging stations fail to exist. Hour many current repair facilities have the required training and expertise to repair EV’s? This push to replace internal combustion vehicles will no doubt cause some unintended consequences. Many underground storage tanks were replaced during 1980’s to meet new, stricter, Underground Storage Tank regulations. These 40 year old tanks will need to be replaced again very soon. How many locations will be willing to invest $400,000 to $500,000 to remove and replace their tanks knowing the uncertainty of the business? Due to the current high cost to purchase an electric vehicle, the affluent areas will see the change over to EV’s sooner than lower income areas. Expect to see low volume stations that are located in affluent areas closing rather than risk high debt with little or no chance of recouping their investment. I feel like a blacksmith watching the first horseless carriages roll into town. The strong will survive but there will be many casualties along the way. -
By Joe Marconi · Posted
You bring up a great point! Way back, it was easier to tool up for most makes and models, the training was available, and the technical information was also pretty much available. Fast forward to today: the amount of specialized training, tools, equipment, and information needed is mind-blowing, compared to what it was. -
Since no one answered your question, I will give it ago, how about you take his pay for the three weeks prior to his vacation, use that to generate a daily average pay at that time, then pay him that daily average for his days off. -
By Joe Marconi · Posted
Very innovative! Also shows the employee that you are thinking of him. -
By jeff fitzgerald · Posted
If the particular make you specialize in is popular in your area it COULD work. I am managing a shop now that is tied to a used car facility. New operation and we are gearing up to service what we sell. The owner wants to follow that matra but is hesitant to invest in the necessary equipment. I am looking into the Opus systems which I believe will give us about 95 percent coverage. Specialty tools could be an issue but that will be an as need purchase. It's not gonna be easy. -
By Jerrys Auto Center · Posted
I just gave 1 of my men a cost of living adjustment (COLA) of $70 / week in the form of tool payments… Tool truck payment, something he needed through Amazon or even the Freight store. The money is tax free to the employee, so he gets to spend 100% of it, I have no tax match on it and I get to write it off as an Expense. Win, win for all. -
By Joe Marconi · Posted
I think in the short term, the internal combustion engine is not going anywhere soon. But what about the long term? If the electric vehicle is to become the dominant vehicle model in the future, how does that change the traditional gas station business? I think it would be interesting to hear from our fellow gas station shop owners, and how they view their future. -
By Joe Marconi · Posted
Let's face it, we all need a certain income in order to pay bills and take care of our families. But when it comes to paying bonuses and incentives, money is not the only way to reward performance. Other than money, what non-monetary bonuses or rewards do you give to your employees?
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