When I owned a stripping business that was low pressure blasting one of the local body shops burnt down and all the techs tools were roasted. The insurance company refused to help any of the guys with their losses. I offered and did blast clean all the tools we could clean for free to help them out. Many of the tools cleaned up like new, others were toast. But the shop owner was very dissapointed in his coverage to learn nothing of the employees was covered. 

Is The Advisor or Tech To Blame? #podcast #autorepairshop #autorepairbusiness #carrepair

Auto Parts Quality and Supply Chain Complexities [THA 379]" width="200" data-embed-src="https://www.youtube-nocookie.com/embed/VcoT113y2MI?feature=oembed"> Thanks to our Partner, NAPA TRACS and AutoFix Auto Shop Coaching Industry leaders John Hanighen, CEO of Cloyes, Matt Buchholz, CEO of Motorrad, and Andy Fiffick, CEO of a 10 store franchise chain in Cleveland, dive into the current state of the supply chain within the automotive aftermarket, addressing issues of product availability, quality concerns, and the impact of unpredictable demand. Insights into data-driven forecasting, manufacturer-distributor collaboration, and the importance of communication between suppliers and auto repair shops are also explored to give a holistic view of managing challenges in the aftermarket industry. Andy Fiffick, CEO Rad Air, 10-locations, franchise. Listen to Andy’s other episodes HERE John Hanighen, CEO at Cloyes Gear and Products. Listen to John's other episodes HERE Matt Buchholz, CEO MotoRad Supply Chain Resilience and Whiplash (00:02:41) Discussion on the unique demand contraction and subsequent supply chain adjustments due to the COVID-19 pandemic. Quality and Fill Rate Issues in the Industry (00:05:44) Reports of decreased quality and high defect rates in automotive parts, as well as challenges related to supply chain disruptions and limited delivery services. Steps to Ensure Proper Installation and Quality Control (00:09:20) Use of QR codes and training videos to ensure proper installation, labor claim reimbursement programs, and the importance of minimizing comebacks through quality control measures. Challenges in Addressing Quality Issues (00:14:29) Discussion on the complexity of the supply chain, the need for quality parts, and the challenges in identifying and addressing part failures and defects. Cataloging and Product Quality (00:15:51) Discussion on the importance of cataloging products correctly and the impact of catalog errors on product performance. Supply Chain Logistics (00:19:26) Challenges and opportunities related to cataloging systems, data accuracy, and supply chain management. Predictive Modeling and Assortments (00:28:29) The use of data for predictive modeling and assortment recommendations at the store and distribution center levels. Data Sharing and Tracking (00:30:41) The challenges and variations in tracking and sharing data across different systems and trading partners. The supply chain management challenge (00:31:38) Discussion on using cross-referencing to identify supply chain gaps and the need for distributor approval. Impact of demand fluctuations (00:32:44) The impact of erratic demand changes and consumer confidence on the automotive industry. Adapting to market changes (00:34:46) Discussion on adapting to demand changes due to weather, election cycles, and marketing strategies. Predictive analytics and supply chain adjustments (00:35:36) Exploring the use of predictive tools and data, including weather, election cycles, and global conflicts, to adjust supply templates. Challenges in supply chain disruptions (00:36:35) The ripple effect of global conflicts and shortages in rubber products affecting supply chain resilience. Industry challenges and solutions (00:37:27) Acknowledging the complexity of the industry and the need for tolerance and collaboration to address challenges. Thanks to our Partner, NAPA TRACS 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/ Thanks to our Partner, Auto-Fix Auto Shop Coaching Proven Auto Shop Coaching with Results. Over 61 Million in ROI with an Average ROI of 9x. Find Coach Chris Cotton at AutoFix Auto Shop Coaching on the Web at https://autoshopcoaching.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

Join Hunt in this important discussion about financial planning for auto repair shop owners. This episode explores why breaking even isn't enough and how to set financial targets that ensure long-term business health and growth. • Understanding Break-even: Why merely covering costs can jeopardize business sustainability, and how to calculate real financial targets. • Strategic Planning Tips: Learn conservative financial planning techniques to safeguard your business against unexpected downturns. • Team Communication: The importance of setting clear financial goals and maintaining transparency to motivate your team. • Actionable Financial Advice: Step-by-step guidance on setting sales and profit targets based on your gross profit percentage. Thanks to our partners, NAPA TRACS and Promotive Did you know that NAPA TRACS has onsite training plus six days a week support? It all starts when a local representative meets with you to learn about your business and how you run it.  After all, it's your shop, so it's your choice. Let us prove to you that Tracs is the single best shop management system in the business.  Find NAPA TRACS on the Web at NAPATRACS.com It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com. Paar Melis and Associates – Accountants Specializing in Automotive Repair Visit us Online: www.paarmelis.com Email Hunt: [email protected] Get a copy of my Book: Download Here Aftermarket Radio Network Click to go to the Podcast on Remarkable Results Radio

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.

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?  

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. 

Thank you to our friends at RepairPal for providing you this episode. As shop owners we were part of RepairPal’s Certified network and you can learn more at RepairPal.com/shops. Show Notes My Facebook Ads are showing to people way outside of my service area (not set up right) My social media doesn’t seem to be providing a return on investment (Junk smm) I never see my Google Ads when I search for my business (low budget) I don’t show up in the Map Pack when I search for auto repair near me, and I’m searching while I’m in my business (connected to wifi) My website is too slow (pictures too big or cheap hosting) My website doesn’t come up when people search for mechanic near me (stock content) I get lots of leads but they don’t turn into customers (Your SA sucks) My marketing looks like every other shop’s marketing (are you talking to your marketers?) The shop is slow. It’s time to turn our marketing back on. (never stop marketing)   How To Get In Touch   Group - Auto Repair Marketing Mastermind Website - shopmarketingpros.com  Facebook - facebook.com/shopmarketingpros  Get the Book - shopmarketingpros.com/book Instagram - @shopmarketingpros  Questions/Ideas - [email protected] Click to go to the Podcast on Remarkable Results Radio