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  • Similar Topics

    • By spencersauto
      What's your houlr labor rate and where are you located? We're currently at $95 in Texas
    • 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? 
       
    • 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. 
       
    • By Joe Marconi
      For the first time in a VERY LONG time, I see a lot of positive news with regard to labor rates.  More and more shop owners and managers are crunching their numbers and increasing their labor rates to better ensure their companies achieves a profit and also to be able to pay their employees what they deserve. 
      Profit is needed in order to build for the future and to be able to attract quality people. 
      I really think that this is perhaps the best time in our recent history to revisit your labor rates and bottom line and adjust your rates accordingly.  
      Have you adjusted your labor rates recently, or plan on it? 
       
    • By ASOG Podcast
      Brian Walker of Shop Market Pros explaining what makes them different at the TOOLS Conference 2021.


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