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Business Plan/New Shop Mentoring


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Hey guys, I am shotgunning this offer to any of you willing to offer your input. I am in the early stages of opening my shop in southern california. I have put together a business plan with as much of my own insight as possible, but your eyes and experience would really help. Is there anyone willing to look over my plan and projections and offer their input/criticisms?

 

I am working through this process as best as I know how, but so far as the actions I need to be taking and a timeline i should be following to stay on track and be successful, some experience and a few people's time would go a long way for me. Thanks in advance for your help! (and thank you to the members that have already offered their assistance!)

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  • Have you checked out Joe's Latest Blog?

         13 comments
      Most shop owners would agree that the independent auto repair industry has been too cheap for too long regarding its pricing and labor rates. However, can we keep raising our labor rates and prices until we achieve the profit we desire and need? Is it that simple?
      The first step in achieving your required gross and net profit is understanding your numbers and establishing the correct labor and part margins. The next step is to find your business's inefficiencies that impact high production levels.
      Here are a few things to consider. First, do you have the workflow processes in place that is conducive to high production? What about your shop layout? Do you have all the right tools and equipment? Do you have a continuous training program in place? Are technicians waiting to use a particular scanner or waiting to access information from the shop's workstation computer?
      And lastly, are all the estimates written correctly? Is the labor correct for each job? Are you allowing extra time for rust, older vehicles, labor jobs with no parts included, and the fact that many published labor times are wrong? Let's not forget that perhaps the most significant labor loss is not charging enough labor time for testing, electrical work, and other complicated repairs.  
      Once you have determined the correct labor rate and pricing, review your entire operation. Then, tighten up on all those labor leaks and inefficiencies. Improving production and paying close attention to the labor on each job will add much-needed dollars to your bottom line.
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