RW conference in Sept, anyone going?
By Joe Marconi
Today is the first day of summer, and we are still dealing with the dreaded COVID-19. However, there are positive indicators that business will be better than expected this summer. People will be taking more road trips, will avoid airplanes, trains and Ubers and will take to the roads in record numbers.
Gear up for a great summer and look for opportunity with each vehicle visit. Perform those multipoints as if your business depends on it….why?....Because it does!
We have a lot to be thankful for. Keep positive, be a leader and thrive!
By Joe Marconi
For many of us, it's been a wild ride the past few months. We had to take care of everything, making tough decisions, dealing with banks and the SBA and running the shop from the trenches. But, with things looking better each day, it’s time that we get back into the role of building and operating the company.
For many, the COVID-19 crisis is far from over. However, the sooner we begin to adjust and build for the future, the better off we will be.
Shop Owners are among the hardest working people on the planet. We find ways to get through the most difficult situations. I have no doubt that the lesson’s learned from this crisis will make us stronger and more successful.
Loma Solutions represents a 0% credit card fee solution. We have 1000's of customers in the US and our solution makes auto shop owners thousands of extra dollars every year.
How does 0% processing work?
When your customer decides to pay with a card, they have 2 options. If they use a credit card, a small percentage of the transaction will be charged to their card. If they use a debit card, there will be no fee to the customer. Our software does all the work and explains to the customer of their choice prior to the card being authorized.
What exactly are the costs to the merchant and to the customer?
For credit cards: Merchant pays zero credit card fees, the customer pays 3.5% of the transaction
For debit cards: Merchant pays 1% + $0.25/authorization, the customer pays 0 fees
- A card swiper is not needed: credit card information can be typed in a phone, computer or over the phone. There is a 'brick' card swiper if needed*
- No set-up costs or any other fees
- Our agreement is month-to-month
- If you auto batch by 8:00 PM EST, you get your money the next day
- The solution complies with all card rules and regulations
- We'll have you up-and-running within a week
Benefits to the Merchant:
*** You are being fair to your customer by offering them a choice to pay a fee or not, while you are eliminating your credit card fees, which can be up to 2.5% of your total card sales.
- Simple to use and all charges are viewable through our real-time online portal.
- Support: our team is there when you need us. We will show you and anyone on your team how to use the solution, but it’s very straight forward.
Making you more money!
If your current credit card fees are 2.5% of your total card sales, for every $50,000 in credit card transactions, you'll put an extra $1,250 in your pocket.
* we will provide you with a ‘brick’ terminal: $35/month if needed. This includes free paper re-supplies.
Reach out if you'd like to discuss.
By Joe Marconi
There’s an old Japanese proverb that says, “The footsteps of the farmer are his best fertilizer.” In translation, this means that the closer you are to your crops and animals, the easier it is to observe and respond to their needs. Business owners, just as farmers, have a sixth sense about what’s happening within their company. And, for the most part, business owners are the driving force behind the success of their companies. And it’s not always because of any particular training. Many times, the mere fact that the buck stops with you gives you the mental fortitude to push forward and find solutions to daily problems. Your gut evolves into a very valuable management and survival tool.
The majority of business owners created their business with a dream and the passion to make a difference in their lives and in the automotive industry. They clearly understand the sacrifices that are needed to get a new business off the ground, and also the years of dedication it takes to reach a point where the business becomes financially stable. But, running a business takes its toll on even the toughest person, and time away from business becomes equally important. So, the question becomes, can you build your business to the point where your presence still remains when you’re away?
Before I go on, I want you to consider something—and that’s your future. I know that many of you have a young company and plan on working for decades to come. But life goes by quickly and it can also throw you a curveball. Please take my advice with this; if you’re a business owner and you are not planning for your future, you are making a big mistake. I know too many shop owners that were forced to walk away from their businesses after decades of work with nothing more than memories. Their dreams turned into nightmares due to lack of planning. Sit down and write out what your future looks like. You will probably need help with this, but you need to think about a continuity plan and an exit strategy.
OK, I got that out of the way; now back to the article. Here’s the bottom line. Taking time off and having your business run smoothly without you there should be one of your key goals. But the truth is, many shop owners can’t let go. They find it hard to take any time off, let alone leaving their baby in the hands of a manager or another key person. They even feel guilty when they’re away. And there are others who realize that in order to have a fulfilling life, the only way to continue the business is to step aside and stay away.
I don’t know what type of person you are. But what I do know with certainty after nearly 40 years in business is that, for the sake of your health and for the well-being of your family, you need to create a business that allows you the freedom to take time off. And that starts with hiring and keeping the right people; people that share your culture and work ethic. Free time away from the business also requires that you understand your numbers, can generate a consistent profit and establish strategies to continually grow the business.
Achieving your goal of taking more time off is more dependent on what you create than the actual work you do. Create a culture where people come to work because they want to. Create a management style that allows you to reach out to your employees and help them achieve the things they want out of life. Create a work environment where the people you employ feel they are part of a unified vision where everyone will enjoy the fruits of their labor. Lastly, create strong relationships with all your employees from the very first day they are hired. Building this culture will help to ensure that your employees will perform the same each day, whether you are there or not.
I know for many it will be hard to let go. After all, your business is your baby, right? You founded it; you worked hard for years and dedicated your life to it. But, every baby grows up and becomes an adult. And adults should become self-sufficient. If you build the right team with the right culture, you will gain the confidence that the people you employ can do an amazing job in your absence.
This story was originally published by Joe Marconi in Ratchet+Wrench on September 5th, 2019
View full article