Yelp, is with worth it?
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By Joe Marconi
Due to COVID-19, many repair shops experienced a severe economic downturn, some with a drop in sales over 50%. Without a strong cash reserve and/or SBA funding help, many shops would have gone under.
My 40 years as a shop owner has taught me to always have a cash reserve. However, never would I have ever imagined a downturn like the one with COVID-19.
So, how do we plan for the next financial crisis. And, it will happen. Perhaps not as bad as the the virus crisis, but it will happen.
Here are a few things to consider: Have a separate, and hard to access, cash reserve bank account that has least two months of expenses. Also, secure a line of credit for at least one to two months of expenses. Also, know your numbers, keep payroll in line, and make sure your prices are fair to you too, not just your customers. Keep in good standing with all your vendors and keep your credit score high!
The bottom line here, is truly the bottom line. To weather the next financial downturn, you need a strong balance sheet and net profit to the bottom line.
What other strategies are you considering or implementing?
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By Elite Worldwide Inc.
We're excited to announce the arrival of Sales Master University, Elite's online service advisor training service that delivers higher sales and happier customers to your shop!
What is it?
Every month your service advisors will have access to the industry's top sales training delivered by Ratchet & Wrench All-Star Award Winner, Jen Monclus. Plus they'll learn from superstar shop owners and service advisors to help them with real world application, and will benefit from assignments, testing, resources and more. Your advisors can start learning the moment you enroll them, and can complete each lesson at the pace they choose from the place they choose for only $49 per advisor per month! Enroll your advisors in SalesMasterUniversity.com today and get ready for amazing results.
BONUS: Enroll before July 31st and become a Charter Member and receive Mastering Sales Objections and Phone Procedures for the Automotive Professional, FOR FREE!
Visit SalesMasterUniversity.com to get your advisors on the path to higher sales and happier customers today!
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By Joe Marconi
As a result of COVID-19, we are seeing more and more businesses install plastic shields at their service and receptionist counters and desks. What are your thoughts. Will you install the shield, have done it or is it a no?
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By Joe Marconi
As part of our debt reduction, I revamped all of our usual marketing and advertising and put those dollars into customer service and social media. For example, we ramped up our shuttle pickup and delivery service, extended our hours of service, made sure we spend a lot of time with each customer and made sure we called as many customers as possible. We also stepped up our meet and greet process and made sure will followed up with customer after the repair. Lastly, we increased our social media posts and increases ads and boosting. This has made a huge impact on our customer and already starting to pay dividends.
What changes have you made to your marketing strategy since the Virus Crisis hit?
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By JeffPMR
Hi guys, first time posting to the forums.
I am a new shop owner, recently purchased an A/C machine.
Do you guys have standard pricing you follow? Pricing for leak checks, price per pound of refrigerant, top up if required? Let me know your A/C pricing matrix. Thanks so much for the help!
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