How do you guys surround yourself with the right people?
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By Joe Marconi
NEWS BREAK: Workers at a Mavis Discount Tire shop falsified records to make it look as if they completed brake work on a limousine before it crashed and killed 20 in Schoharie, New York, last year, when in actuality the work was never performed, according to the shop's former manager.
Below is a link to the article:
https://www.usatoday.com/story/news/2019/10/09/new-york-limo-crash-mavis-discount-tire-shop-falsified-brake-records/3920945002/
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By Joe Marconi
With the COVID-19 situation, many shop owners of retirement age may be putting thier retirement plans on hold. I get this. It makes sense in many cases. But, please think about you and your family. Many shop owners have a 30, 40, even 50-year plus history in the auto business, with most of those years owning and running a shop.
If it's possible, perhaps succession plan with the right person, or hiring a general manager to run your shop is a possibility. Perhaps a family member? The key thing is to have a secure business that, if you do plan on holding on to it, will bring you an income with stress-free time away from the shop, and back to your family.
Your plans, thoughts, opinions?
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By Elite Worldwide Inc.
By Bob Cooper
Given the uncertainty many businesses around the world are currently experiencing, we must look for ways to save as much money for our shops as possible, while also making sure we are maintaining and building a more profitable business in the long haul. Here are 4 powerful tips to help you save on your shop’s expenses.
1. Review your profit and loss statement, and take a look at each and every line item. For each line item, you should ask yourself up to 3 questions: First, ask yourself if the line item is going to lead to an immediate profit. An example of this would be parts purchases or labor. If the answer to this question is no, then ask yourself if the line item will lead to a potential profit in the near future. An example of this would be your advertising or marketing investments. If the answer to this question is no again, then ask yourself if the line item will lead to any foreseeable profit at all. Examples of these items would be insurance investments, utilities, and your water cooler payment. Once you have the answer to these questions, it will be much easier to see where you can scale back or even put certain items on hold for the time being.
2. This tip comes from Dean Kuhn, a successful transmission shop owner and one of Elite’s rockstar Business Development Coaches. He recommends taking a look at the top 2-3 most expensive items on your financial statements each month. When you look at these expenses, really dive deep into every single line item that goes along with it. This way, nothing will slip through the cracks and you can get a complete picture your business’s finances, which will help you determine areas where you can save.
3. Always remember that your vendors are your partners, and it’s important to treat them this way. I would highly recommend meeting with each of your vendors and having an honest conversation with them to make sure your partnership is as mutually beneficial as possible. During these discussions, set clear expectations for the vendor and make sure that you are meeting theirs. This will save you valuable time in the long run and will make both of your businesses more successful!
4. To save on what’s likely one of your biggest expenses, I recommend that you sit down with your landlord or mortgage owner and have a conversation with them to see what can be done to reduce this cost. You’d be surprised how often an agreement can be made to help in situations like the one we are currently facing.
Since 1990, Bob Cooper has been the president of Elite (www.EliteWorldwide.com), a company that strives to help shop owners reach their goals and live happier lives, while elevating the industry at the same time. The company offers the industry’s #1 peer group of 90 successful shop owners, training and coaching from top shop owners, service advisor training, along with online and in-class sales, marketing and shop management courses. You can contact Elite at [email protected], or by calling 800-204-3548.
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By Elite Worldwide Inc.
By Bob Cooper
During difficult times like these it's important to look for creative ways to keep your shop's name in the minds of your community members. Here are 3 easy-to-implement tips that will help your shop build its brand recognition in today's climate.
1. If you have a shuttle or any type of vehicle that features the name of your shop, it's important to get that vehicle out in your community. There are plenty of charitable organizations you could partner with that may need delivery assistance, such as Meals on Wheels. You could also provide a shuttle service for local retirement homes and any other group that may need assistance getting around your community, or you could even deliver groceries or household items to these groups. Getting your business's name out there and helping your community will certainly help people remember your shop.
2. Host an online course for people who are currently stuck at home. One specific idea is to host an online car care clinic for new drivers, teaching them things like how to maintain a car, how to deal with a flat tire, how to read and use their car's owner manual, and other similar topics. Not only will this help them learn vital information, but it will give them an indoor activity to focus their attention on, which I'm sure their parents will thank you for.
3. Now more than ever, it's important to have the right attitude each day. This is crucial not only for your own well-being, but for the well-being of everyone around you. A positive outlook will permeate throughout your staff and your community, and show people the type of business you have; one that views each day as a new opportunity to build a wonderful life and a wonderful company.
For additional help building a more successful auto repair business, feel free to give us a call at 800-204-3548 or visit the Elite website.
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By Elite Worldwide Inc.
By Bob Cooper
We all know that these incredibly challenging times are impacting businesses and people all around the world. To help maximize your shop's sales and profits in the face of these difficulties, here are 3 simple and cost-free tips that you and your service advisors can start implementing today.
1. Pick up the phone and call your customers. However, this is not a sales call and shouldn't involve discussion about the customer's vehicle. Rather, this is a chance for you to check in on your customers and their families, let them know you are thinking about them, and offer to help in any way you can. By giving them a call and speaking from your heart, you are showing your customer that you not only care about their well-being, but that your company truly values people over profit.
2. Set up call forwarding during your commute to and from work. By having incoming calls forwarded to your cell phone rather than to the shop's voicemail during your drive to and from the shop, you are essentially extending your hours and allowing more customers to reach you if they are in need. There may only be a couple of calls that come in during these times, but it can make a world of difference for those calling customers.
3. Adjust your 2020 sales and car count goals so that they are broken down to daily targets, and track these daily goals in a descending manner. Instead of feeling discouraged if your shop is far from reaching a monthly or weekly goal, having daily sales and car count goals will allow you and your advisors to look at each morning as a brand new opportunity to accomplish the goals for the day.
Tracking these daily goals using a descending method helps your team focus on what they still have left to accomplish, and motivates them to reach the targeted numbers. For example, if your daily car count goal is 10 cars, and 7 cars have come in, a descending method of tracking will have your advisors saying, "We only have 3 cars left to meet our goal!" rather than, "We've had 7 cars come in so far." When I first began coaching, my average client saw a 15% increase in sales just by making this simple switch from an ascending to a descending method of tracking goals, so this tip is sure to help!
For additional help increasing your shop’s sales, learn more about Elite’s Online Masters Service Advisor Sales Training, or give us a call at 800-204-3548.
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