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Posted

I do a lot of aftermarket work for the local dealerships and body shops. Most are 15 day net terms but others are getting stretched out pretty far. 10th of the following month, lost invoices, amount billed is less than estimate, no one is here to sign the checks. That PO was closed and you need a new number. The crazy excuses just keep on coming.

 

So my question is how do I break this cycle and encourage prompt payment? I do not want to discount a lower than normal Profit margin. And setting late fees may turn business away. Unfortunately it is a big part of my business.



Posted

I deal with it some myself, Biggest thing is no Net terms anymore, you pay with a credit card or check when you pick the vehicle up, I don't care if it's a huge dealership or not. If you can't hire techs competetant enough to do everything in house and need me to do stuff, these are the terms.

  • Like 1
Posted

Agree, I have 1 customer who I let charge a balance and it's been an ongoing nightmare. Luckily his car broke down last week and he towed it to me. I explained to him that we could not do any work until his balanced was paid in full. It's probably gonna be 2 months before he has me paid off, but it's the last time I'll let someone charge a balance with me, including dealerships.

  • Like 1
Posted

I deal with it some myself, Biggest thing is no Net terms anymore, you pay with a credit card or check when you pick the vehicle up, I don't care if it's a huge dealership or not. If you can't hire techs competetant enough to do everything in house and need me to do stuff, these are the terms.

Ditto. Bring a check or credit card at time of pick up.

  • 1 year later...
Posted

I stopped accepting personal checks about 1 1/2 years ago. Unless it's someone I feel comfortable taking a check from. After one really big delema, I learned that writing "bad checks" is almost a legal way of stealing. Most of the time it's not worth going to court over. Sad world we're living in.

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  • Have you checked out Joe's Latest Blog?

         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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