I have an idea of a software that can be used to charge a customer a monthly fee.
For example, you could have different tiers:
Maintenance Lite - 15$ a month: low monthly payment for all of the conventional oil changes required by the average driver each year.
Maintenance Basic - 20$ a month: Maintenance Basic includes everything you'll find in Lite, but adds... Unlimited Synthetic Oil Changes (as needed), On Rim (Seasonal) Tire Rotations (as needed), Complimentary Re-Torquing after changeover.
Maintenance Plus - 40$ a month: includes all services from Ultimate Maintenance Basic, plus the following...
- Off Rim Seasonal Tire Rotations (as needed)
- Seasonal Tire Storage
- Flat-Tire Repair (excluding roadside assistance)
- Up to four General Service Calls (diagnoses, bulb replacements, filters, etc...)
- Battery Boost/Replacement (excluding roadside assistance)
- Priority Scheduling Service (For seasonal tire changeover)
What do you think about it?
By Joe Marconi
I was attending a recent TECH NET council meeting a few weeks back and one of the topics discussed was Exit Strategies. One of the members spoke about finding a key person in your company, if there is no one in your family to consider.
There are many shop owners out there that are near retirement. It would be a good idea to share a few ideas. I know many shop owners may not even have a plan. My lawyer approached me about a year ago and insisted that I sit down with him to plan out my future. I am 59, been in business for 34 years and been in the auto repair business since high school. If your story is similar to mine, it's something we need to start planning.
Hunt Demarest, CPA Paar-Melis. Hunt is Accredited in Business Valuation and a licensed Certified Public Accountant that has been with the firm since 2006. He specializes in business taxes, valuations, and does consult work with our clients all across the country. When he’s not in the office, Hunt enjoys spending time with his family, golfing, working on and racing his cars. Look for Hunt’s other episodes HERE. Brian Bates, the owner of Eagle Automotive Service, 5 locations, bought the neighborhood shop in Columbine Hills back in 2004 as a way to serve the community by offering quality repairs and services while living out his dream of running his own business. Brian has served as a President of the local NAPA Autocare Business Development group, served on the national AutoCare council with the president and directors of NAPA Auto Parts, and is proud of his team’s achievements in becoming an AAA auto repair certified and holding a BBB A+ rating since the inception of the grading system in 2007. Listen to Brian’s previous episodes HERE Joe Hanson owns Gordie’s Garage. Joe has attended Management Success, NAPA training, Lawrence Tech University and most recently he is a member of the RLO 20 Group 13. He has earned his ASE C1: Automobile Service Consultant Certification. Under his father’s leadership, he has seen what it really takes to make a business like this work. Listen to Joe’s Episodes HERE. Key Talking Points
Value your business before you sell or begin to think about selling- need to figure out value today so that you know what to do to change the value of the business in the future. Find an objective process to value your business before you start talking to a seller. Use an objective third party to negotiate with buyer and seller- CPA/accountant/business valuators. “Higher than what you want to pay and lower than what you want to sell.” Work together instead of against. The best tool to evaluate/estimate what a shop is worth- multiple of net income, what does it make at foundation over 3-5 years? Multiply 2.5-3X SDE- seller discretionary earnings, do you add it back in? If the owner is an integral part of the organizaion (owner and service advisor/technician etc) then you can’t justify adding back payroll. Financial forecast- creating a roadmap for bank/SBA, prepare financials, marketing campaigns, write assumptions for expenses The end game isn’t closing on the business, it is succeeding in new business Know your buyer- price is important but the representation of price is where the value is Key advantages- finding out what motivation of the seller, most time it is about legacy and wellbeing for employees and customers. Trust and transparency with both parties Take emotion out- need to be in a logical state of mind, you are purchasing and selling an asset Growing after purchasing- as an owner, business, and employees Support during venture- at home, professional network as you go through all the ups and downs. Learn from other people’s successes and failures. A special thanks to Hunt Demarest, Brian Bates and Joe Hanson for their contribution to the aftermarket. Books Page HERE Listen to all Remarkable Results Radio, For The Record and Town Hall Academy episodes. Facebook Twitter LinkedIn Instagram Youtube Email Mobile Listening APP’s HERE Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE. Buy Carm a Cup of Coffee This episode is brought to you by Shop-Ware Shop Management. It’s time to run your business at its fullest potential with the industry’s leading technology. Shop-Ware Shop Management will increase your efficiency with lightning-fast workflows, help your staff capture more sales every day, and create very happy customers who promote your business. Shops running Shop-Ware have More Time and generate More Profit—join them! Schedule a free live demonstration and find out how 30 minutes can transform your shop at getshopware.com 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/chat to learn more.
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Founders Leigh Anne Best, Mighty Auto Pro, Medina OH, and Laura Frank, Auto Repair Technology, Brook Park, OH Previous episodes for Leigh Anne Best HERE Previous episodes for Laura Frank HERE Key Talking Points:
$1.192,034M in 10 Years. 2020, Covid Year $250K Brakesforbreasts.com Meghan Daley & Cindy Frasca, Kukui- Built website and spreads the word for brakesforbreasts.com. Kukui is offering new postcards this year and donating 10 cents per postcard. Dr. Justin Johnson, Cleveland Clinic, lead researcher for Dr. Tuhoy Team- Brakes for Breasts has supported the research team for over 10 years. 100% of the money raised goes to research. No overhead or cut for Cleveland Clinic. The aim is to prevent breast cancer with a vaccine. Bill Long, Auto Car Clinic, Front Royal VA- A shop owner that has participated since the beginning. Give back to the community and participate. Easy and streamline the process to join. Will always be a part of the program. Work with your supplier, some shops receive up to 100% free brake pads, pass it along to customers, and take 10% of job to be donated. Rebecca Waugh, Leads Near Me- Designed social media graphics available for download on brakesforbreasts.com- email to ask for tips for marketing [email protected] Stacey Diaz, Wayside Garage, Seaside CA- She has done a great job spreading the word through her 20 group and Has MANY “fun” ideas- annual T-shirt, pink paper for all invoices, goodie bags for clients to pick up, she is already pre-booking for Oct! Dr. Tuohy, Cleveland Clinic, Breast Cancer Vaccine Researcher, Professor of Molecular Medicine at the Cleveland Clinic Lerner College of Medicine of Case Western University- Status of vaccine: very close from implementing clinical trials, within weeks; vaccine for ovarian cancer is underway What is a vaccine? Eliminates diseases. Vaccines, antibiotics, and transplantation are the biggest contributions to medicine. Vaccines are “programs” for immune systems. Example a vaccine is like an app on your computer that tells the computer what to do. A vaccine will tell your immune system how to work. 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.
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https://www.youtube.com/watch?v=QGkhhxMj0jY Emily Sundstrom- Service Advisor, Valley Auto Electric, Covington, WA. Her career in the automotive field started about 13 years. She was hired to “just” answer phones. It quickly turned into something for which she had a passion for. She enjoys doing it every day. The passion comes from taking a stressful, unexpected situation and turning it into an experience that leaves the customer feeling confident, educated, empowered, and respected. She has acquired multiple certifications from ASE, ATI, Wa. State Emissions, Elite Master’s Program, and Ami. Aaron Woods- Extra Mile Auto Care, Stillwater, OK. Since opening X-tra Mile Auto Care in 2018, Aaron Woods has proven himself as a rising star in the automotive aftermarket service industry. His professional values of integrity, continuous improvement, help first, and maintaining "above the bar" service, contributes to X-tra Mile Auto Care becoming the highest regarded automotive repair service in Stillwater, Oklahoma. Clint White has been passionately immersed in the Automotive Industry for over 25 years. He is a Service Advisor Coach & Shop Consultant with CWI and currently holds multiple ASE certifications. He began his career as a Technician at a local two bay shop in 1995 and over the course of the next two and a half decades honed his sales, technical, and management skills while living in Washington & S.E. Idaho. During his journey, he has never stopped learning and has been blessed to work for and with those who value education, training, and coaching. In everything he does, Clint is focused on people and excellence! Whether it be coaching & training Service Advisors to sell with passion & integrity or working directly with Shop Owners to improve team accountability and streamline process implementation, Clint’s passion is to elevate the Automotive Industry across the nation to ensure every customer consistently receives the highest level of service. Previous episodes HERE Key Talking Points Qualities- driven, goal-oriented, inner drive, help first mentality, ambitions in life “build own company within the company.” How would you treat your customers if this was your company? Building relationships and memorable experiences. Do customers remember their names? Sale is an end result of the transaction, focus on things leading up to the sale- establishing trust, presenting value in services, educating. Taking uncomfortable situations/panicked customers and reassure them so they let their guard down. Always want to grow. The Ideal Team Player by Patrick Lencioni- humble- the absence of ego, acknowledge weaknesses and address it, hungry- what are you doing to improve yourself? and smart- Shows empathy to others, demonstrates intuition when interacting with others Power of Vulnerability book by Dr. Brene Brown - understanding the difference between sympathy and empathy 7 habits of Highly Effective People book by Stephen Covey- seek first to understand then to be understood Read the room- socially and interpersonal awareness Listener qualities- hear and understand customers, giving solutions, empathy Face to face relationships- body language, tone of voice, picking up key cues Service advisors and technician relationship- ask questions, know what you’re selling and why, pressure regulator-bring it down to common knowledge, demonstrate the need for service- language customer understands, what will happen when left neglected DVI and service advisor- a new way to present information, builds value but doesn’t take human interaction away. Sell with confidence. It’s a tool, not the only tool. Holding onto service advisors too long- face of company and when the wrong person is in that seat it can be detrimental to the company. One unhappy customer can lose 10K in sales per year. Trust is the hardest to gain and the easiest to lose. Be proactive, not reactive to toxic situations. Finding service advisors and developing them- professional groups, customer service based sales industry, hospitality industry, restaurants A special thanks to Emily Sundstrom, Aaron Woods and Clint White for their contribution to the aftermarket. Books Page HERE Listen to all Remarkable Results Radio, For The Record and Town Hall Academy episodes. Facebook Twitter LinkedIn Instagram Youtube Email Mobile Listening APP’s HERE Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE. Buy Carm a Cup of Coffee This episode is brought to you by Shop-Ware Shop Management. It’s time to run your business at its fullest potential with the industry’s leading technology. Shop-Ware Shop Management will increase your efficiency with lightning-fast workflows, help your staff capture more sales every day, and create very happy customers who promote your business. Shops running Shop-Ware have More Time and generate More Profit—join them! Schedule a free live demonstration and find out how 30 minutes can transform your shop at getshopware.com This episode is brought to you by Shop Marketing Pros. Your guides are Kim and Brian Walker with a rich history as shop owners and industry veterans. When someone searches for a shop, who are they finding? Your competitors? It should be you! The good people over at Shop Marketing Pros know how to drive website traffic and make Google work for you! www.shopmarketingpros.comClick to go to the Podcast on Remarkable Results Radio