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    • By Joe Marconi
      This forum will outline the steps that I took the past three and half years, working toward my exit strategy.  I will outline each step, each week, to give you information that I know you will find informative and useful. Please note, these steps are the ones that I took, and your situation may differ. However, you will find so many similarities, that I am sure you will obtain a ton of great information.   Ok, here we go...
      STEP 1 - Get Your Business Ready to Sell Today
      You are never too young to begin thinking about your retirement or sale of your business. Work hard on your business to get it to run on its own.  For quality of life, and to grow a sucessful business, requires having the right people, the right systems, a knowledge of the numbers, and a plan.  Also, the more you are removed from the day to day operations, the more sucessful you will be and the more your business will be worth to a potential buyer. 
      Here's another important reason to get your business to run on its own: A health crisis may leave you sidelined for months or longer, or may even leave you disabled to a point where you cannot perform the necessary duties as a shop owner.  We all have heard of shop owners that either became seriously ill, were in a bad accident or passed away, leaving the business in a state that it cannot run by itself.  Or, not worth much because the shop owner did not take the necessary steps to build the business correctly and not having clean and accurate financials.  
      Begin today to start thinking about your business and when you want to sell, have family take over the business, or other options. Start getting all your financials in order, set your long-term goals, work on your business plan, review and refine all your systems and procedures, and talk to your family about your long-term plans. 
      With each step, you may need help from either an accoutant, broker, attorney, or a business coach. Please don't make the mistake of thinking you can everything on your own. 
      That's it for today- Next week I will discuss The Importance of Having Clean Financials and Showing a Profit
      Thank you and Stay Tuned! 
       
       
       
    • By Joe Marconi
      This Sept 11 marks 20 year when four planes were hijacked, the Twin Towers were destroyed and 3000 people lost their lives in the terrorist attack.
      The day after, Sept 12, Americans came to together as one.  Let us all once-again reunite as Americans.  
      Let us never forget what happened on September 11, 2001. 
    • By carmcapriotto
      https://youtu.be/lAWzbES7h8M
      Panel:
      Joe Hanson, Gordies Garage, Roseville, MI. Listen to Joe's previous episodes HERE.
      Bill Nalu, Interstate Auto Care, Madision Heights, MI. Listen to Bill's previous episodes HERE.
       
      Key talking points:
      Done the same way daily. Predictable One person in charge of the process Joe:Planning, production recap of the day Feedback Parts review for next day Make the morning a quick start. Get mentally prepared for the next day. What is coming in. Set the expectation (stage) for the next day’s production Cash in - Cash outUse bank bag and drop off Manage parts returns. Don’t let it get out of hand. Bill:Set the stage or table for the next day Your survival is dependent on great organized processes Bill offers flexible hours to his team Verify if the vehicle left out has its windows up and is lockedKey’s are locked up Check all building doors. Be sure they are locked Be sure after-hours customer pick-up’s keys are in the lockbox A walk through the shop:Acetylene tanks are closed Doors are closed Hoist locked down All electronic tools locked in a special cabinet All other tools and equipment out of sight from prying eyes Verify the bank deposit against the shop management system Check HVAC system or thermostats  Lock up cash drawer cash Thanks to Bill Nalu and Joe Hanson for their contribution to the aftermarket Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers. Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP’s HERE Find every podcast episode HERE. Every episode is segmented by Series HERE. Key Word Search HERE. Be socially involved and in touch with the show:
      Facebook   Twitter   Linked In   Email
      Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE.
      Buy me a coffee

      Are you seeing auto shops in your area get hundreds of 5-star Google reviews and are you feeling left behind because your shop only has a few?
      Hey look, Broadly is your answer to getting more online reviews. With more reviews, your business will rank higher in search results — and that means more customers coming into your shop every day.
      Broadly helps you automatically request reviews so that your customers can promote your business with just one click.
      When you immediately ask for a review after service, when the experience is still fresh in their mind, you’re more likely to get a 5-star positive review.
      Plus, asking for feedback makes your customer feel valued and more connected to your business. Isn’t that what you want a connected customer? See how Broadly can help grow your auto shop.  Visit www.getbroadly.com/carm to learn more.
       
      Click to go to the Podcast on Remarkable Results Radio
    • By Joe Marconi
      Got your attention? Please read on...
      In case you were hibernating the last year and half, you had to notice all the increases around you. From food, gas, utilities, taxes, insurance, etc., etc., etc. Not to mention all the training and tool investment we must make from now on, to remain in the business.
      I have been preaching this for decades: As an industry we don't charge enough, especially when it comes to labor. 
      While there are ways to increase labor dollars, for example: becoming more productive, making sure that we charge for complex testing and driveability; Base labor rates have to factor in as the most important KPI in your business.
      Do the math, get help from a coach if you need help calculating your labor rate.
      A real Down and Dirty calculation:  If you have one tech and you pay this tech $35 per hour ($42 loaded), then this tech has to bill $140 of labor for every hour worked.  ASSUMING THIS TECH IS 100% PRODUCTTIVE. 
      DISCLAIMNER:  THIS IS A REAL DOWN AND DIRTY QUICK CALCULATION, SEEK ADVICE IF YOU WANT A MORE ACCURATE REQUIRED LABOR RATE. 
    • By carmcapriotto
      How to Have a Four Day Work Week with Eric Henley [RR 627]
      Eric Henley, owner of H-Teck Auto Care in Gray, TN, is 4th generation of mechanical repair. He received an associate's degree in Auto Service Technology and spent over 15 years at a Honda dealership. Eric started H-Teck Auto Care in 2006 with just him, his dad and his wife. Going on over 15 years in business he now has a 6 bay shop.
      4 generations in the automotive industryGrandfather was a blacksmith and father used to bring home cars to be fixed up. Eric grew up fixing bicycles, lawnmowers and cars.  Received an associates degree in Auto Service Technology Spent 15 years in dealerships- income can go down as skill level goes up (more skilled jobs often wouldn’t pay as much) Hiring new techniciansUses Indeed and Facebook Marketplace but the best results come from word of mouth and referrals from existing employees Current prospect is 21 year old Skills USA graduate  Current tenured technicians - 15 years, 11 years, 3 years Food Friday’sEither grill or go out to eat every Friday- have employee meeting over a meal All employees and Eric discuss any issues, improvements, ideas, areas needed for training, or tools needed. Open dialogue and non-formal Eric gives his employees the opportunity for responsibilities in the business- currently working on updating SOP’s with more DVI usage Shop is open 5 days a week with weekends offEric is in the shop 4 days a week because he trusts his employees- they are good people able to follow the SOP’s in place and make day to day decisions Employees will know if you don’t trust them- creates “neediness” for everything  Gives his employees monthly expenditures they can use for customers in need Spends extra time in the community and with his family He is very involved in his employee's lives and is flexible with work schedules based on their family schedules What makes a great service advisor?Excellent people skills and communication skills- enjoy talking to people Can think quickly on their feet, a warm personality, patient and good listener Similar to a good waitress/waiter- there when you need them, listen to what you need, then go on to the next table.  Both of Eric’s service advisors are in ongoing training Best service advisor trainers- previous service advisor, or previous technician with good people skills, or having parts experience TrainingRequires minimum 30 hours per year of training  Utilized online training a lot last year during COVID shutdowns RRR 588 with Jim Fleischman and Matt Manzone- Dealership tech now works for an independent How to Have a Four Day Work Week with Eric Henley [RR 627]
      Thanks to Eric Henley for his contribution to the aftermarket’s premier podcast. Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers. Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP's HERE Find every podcast episode HERE. Every episode is segmented by Series HERE. Key Word Search HERE. Be socially involved and in touch with the show:
      Facebook   Twitter  LinkedIn   Instagram  Youtube   Email  
      Join the Ecosystem - Subscribe to the INSIDER NEWSLETTER HERE.
      Buy me a coffee
      NAPA Autotech Training helps your technicians keep their skills sharp and their NAPA Know How up to date. It’s the highest quality technical training that covers almost every vehicle system and every make and model. NAPA Autotech is presented by experienced instructors who are ASE master certified technicians. Even after a class is over, techs can access course information online with ClassPass. So when questions come up later they can get the answers. AutoCare Center owners who have taken advantage of Autotech Training say that well-trained technicians are helping to increase their shop’s repair capability and raise bay productivity. That results in fewer comebacks, more satisfied shop customers, and reduced technician turnover.
      Learn more about NAPA AutoCare and the benefits of being part of the NAPA family by visiting www.NAPAAutoCare.com.
      Click to go to the Podcast on Remarkable Results Radio


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