Sharing a victory! Stay Hungry!
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By Joe Marconi
For many shops, business during the winter can slow up due to a number of reasons. What I have found that works is to schedule a flood of service reminders and past recommendations to go out during the months of Jan and Feb. Maintaining touch with your existing customers is a great way to keep your shop top of mind, and it may just bring in a little extra work too.
Any winter marketing tips to share?
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By Joe Marconi
There is a large repair shop in the mid Atlantic states (they want to remain anonymous) that just formed an alliance with a local new car dealer to service their used cars. I will change some of the details; a request from the shop owner. But, the story brings up a few interesting facts. And, the big news is: This shop is profiting from this relationship!
The shop owner was approached by the GM of the dealer to service some of the used cars they have been taken in on trade and want to sell. The dealer techs are not trained and not familiar with the different car lines, being a Chrysler-only dealership. Due to the shortage of cars these days, the dealer is taking in on trade, all makes and models and wants to sell the used cars. And we all know profitable used cars are.
The repair shop performs a multipoint, which they get paid for, and then they do many of the services and repairs, which includes tires, brakes, wheel alignments, oil changes, air and cabin filters, wipers and other simple services. Most of the cars are newer cars, and the work can be done by a GS tech.
I don't know the pricing, sorry. But, I am interested to see where this goes.
Imagine, a new car dealer asking an independent repair shop to service and repair their used car fleet???
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By Joe Marconi
One of the lessons from COVID is for repair shops to have a strong cash reserve. Shop owners need to budget their money each week, and allocate money to different bank accounts, such as payroll, operating expenses, taxes, etc.
Another account I would recommend is to have a Cash Reserve account, where money is allocating each week, and not touched unless their is a emergency, such as an economic downturn and or if an economic emergency occurs in your area or with your company.
While no one could have predicted the affects from COVID 19, I think we can all agree that being cash strong is a viable strategy.
You should have anywhere from 3 to 6 months of covered expenses in a separate bank account. I know, I know....it's a lot of money. Start slow and build each week. Anything set aside is better than nothing.
Of course, to have a reserve means that you need to have the profit to put away. Right? Well, another reason to know your numbers, revisit your pricing and make sure your labor rate is enough to support your payroll, operating expenses and have enough left over to set aside money for the unexpected.
Trust me, you'll be glad you did.
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By spencersauto
What's your houlr labor rate and where are you located? We're currently at $95 in Texas
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By carmcapriotto
Key Talking Points
Justin Fricke, CarTime Auto Center, Dundas, MN
Stocks around 100 cars on lot for used car business in the same building The car buying experience has changed- the market isn’t full of new vehicles anymore, prices continue to increase month to month Justin started as a technician and is now part-owner Program through junior and senior high schools called Career Tech Education- job fair day of different businesses with displays. As a business, go to schools and ask about their programs available. Consider field trip to the shop Where do kids fit? Stereotypes around the trades need to be broken in school. Don’t push the kids that are the “bad students” into the trades. It is no longer a secondary career path. Also has detail shop- $200 for full detailing inside and out Connect with the show:
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Check out today's partner:
Dorman gives people greater freedom to fix vehicles by constantly developing new repair solutions that put owners and technicians first. By always innovating, Dorman has led the way in growing the aftermarket. Here you will see a few examples of a Dorman OE Fix. An OE FIX is a Dorman repair solution you can’t get from the original equipment manufacturer. It means they found a situation where they believe the OEM wasn’t giving repair professionals what they wanted, so we fixed it. Everything Dorman does is centered around providing customer value, both in the quality of products, and the creativity of solutions. Our engineers and designers go out of their way to save repair technicians time and save vehicle owners money. Want to really go under the hood? Take the Dorman Virtual Tour at www.DormanProducts.com/Tour
Click to go to the Podcast on Remarkable Results Radio
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