Quantcast
Jump to content


    • You can post now and register later. Already registered? sign in now to post with your account.
    • ×   Pasted as rich text.   Paste as plain text instead

        Only 75 emoji are allowed.

      ×   Your link has been automatically embedded.   Display as a link instead

      ×   Your previous content has been restored.   Clear editor

      ×   You cannot paste images directly. Upload or insert images from URL.


      Once you submit your question, a new topic will be created for you in our forums. Our moderators may move your topic to a more suitable forum category if one exists. Members will see your topic and be able to respond to your question.

    • This will not be shown to other users.
Elite Worldwide Inc.

Article: If You Think Your Shop is a Business, This Article May Surprise You

Recommended Posts

Most shop owners begin their careers as technicians, and eventually buy their first shop. These are often the people that feel they own a business, when in reality, it’s the furthest from the truth. Consider this…

When most past-technicians open their first shop, they spend most of their time test driving or under the hood of a car. They know if they stop working on cars, their income will come to a screeching halt. They feel that as long as they are turning wrenches they will have an income stream, and the faster they work, the more income they’ll make. So what they have in this scenario is a job; not a shop, and not a business. Ironically, they’re not much different than the tech down the street. They’ll go home tired, and they’ll judge their success by the number of vehicles they fixed that day. The only real difference is that the tech down the street doesn’t have all the liabilities, and they don’t take their problems home at night. 

Some of these aforementioned past-techs will make it to the next level, which is being a “shop owner.” The difference between having a job and being a shop owner is that shop owners have more than one person working for them, and they are able to take a few days off without everything shutting down. In most cases, shop owners feel this is a good place to be, and it is, until it’s time for them to either retire or sell their shop before their planned retirement. You see, what most shop owners fail to realize is that very few people are willing to buy shops, and if they do find a buyer, it’s typically a tech with very little money. The reason that business people with real money will rarely buy shops is because shops are typically dependent on the current owner, and there’s a shop on every corner. 

Now here’s the good news: Every shop owner can turn their shop into a business. You see, a “business” is not dependent on the owner. It has clear-cut, written systems in place for all facets of the business (pay programs, the recruiting process, the marketing plan, the sales process, etc.) so that when the new owner steps in they have everything they need to continue building the business. They have the business plans that were created by the seller, they have a seasoned staff, and they have all of the established systems in place for the business to continue to prosper and grow. In this case, what the buyer has bought is a “business”, not a job, and not a shop. 

The shop owners that are willing to embrace the fact that there is a major difference between a job, a shop and a business all have one thing in common: They are creating their own future, and they are building real equity at the same time. Is it worth the effort to transform your shop into a business? Well, the best answer I can give you is this: When the day comes for you to sell, I have a very strong suspicion that you will be thankful you turned your shop into a business. 

Since 1990, Bob Cooper has been the president of Elite, 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 coaching and training from the industry’s top shop owners, service advisor training, peer groups, along with sales, marketing and shop management courses. You can learn more about Elite by visiting www.EliteWorldwide.com.


View full article

  • Like 1

Share this post


Link to post
Share on other sites

We allow visitors to read the first post of each topic. To read this post, please login or register for a membership. 

Share this post


Link to post
Share on other sites

  • Similar Topics

    • By Elite Worldwide Inc.
      Keep Your Shop's Summer Momentum Going! 
      Elite's Supercharge Your Shop, a series of 4 live online courses for shop owners, starts Sept 14th! 
      Learn to master your shop's numbers, recruit the top techs & advisors, maximize employee productivity, fill up your bays with your ideal customers and more!
      These live online courses will be taught by industry superstars Joe Marconi and Kevin Vaught, who have both experienced extraordinary success as shop owners, so everything you'll learn has been proven to generate extraordinary real world results!
       You have the option to either enroll in the whole Supercharge Your Shop course series, or pick and choose the individual courses that will help your shop the most. Here's the course schedule:
      Sept 14-15 - Mastering Your Shop's Numbers and Cost Control
      Sept 16-17 - Hiring America's Top Techs & Advisors
      Sept 21-22 - Maximizing Employee Morale, Productivity and Profits
      Sept 23-24 - Filling Up Your Service Bays with the Ideal Customers
      To enroll in the complete series of these 4 live online courses, just visit our Supercharge Your Shop Page to reserve one of our last openings!
       
       
    • By Joe Marconi
      We, automotive shop owners of America,  must take the opportunity of a lifetime and turn it into a bunch of success stories. What opportunity?  Look around you. The world is in turmoil. COVID-19, social unrest, uncertainty about the presidential election, the economy, how are we going to get out kids back to school, on and on and on.
      While the world is spiraling out of control, we have the power to make big changes to our auto repair shops.  And it can all be positive! 
      The Opportunity...
      First, the average age of a car in the U.S. is about 12 years old, attaining well over 200k on the clock. 
      Second, Uber, taxis and limo companies are suffering.  Guess why?  
      Third, the motoring public in the foreseeable future will be traveling by car, taking road trips like they have never did before.
      Fourth, the roads are packed with motor vehicles, as more and more people prefer their own car as their primary means of transportation. 
      Fifth, as the cars get older and older, more of them will be out of factory warranty.
      Sixth, independent auto repair shops have a vast amount of training, resources and replacement parts.
      Seventh,  the overwhelming majority of cars being build and sold today are still internal combustion engine powered cars. If you factor in the expected average age of car these days, we can safely bet that those gas engine cars being sold today will still be on the road in 2033 and beyond! 
      Eight, You need more?  That's not enough! 
      Get your plan in place.  Get your prices in line with making a profit. Don't give anything away anymore (I am mostly referring to checking, testing, diags of any sort!) Offer world class customer service. Be a leader of your employees.  Show the world what you are made of! 
    • By Joe Marconi
      Most of you probably already know what I am about to say:  The Service Advisor position is the most crucial position in the shop.  I know, I know, what about the mechanical work done by the techs?  Well, that's important too, of course. 
      For the most part, customers spend their hard-earned money and most of time don't really know or see what was done to their car.  Let's face it, the customer can't see the water pump or T-belt. And most of the time, the customer does not feel any difference with the car as they drive out of your parking lot. 
      What the customer does see (or experience) is how she was treated.  And that makes all the difference in the world.
      Plus, great service advisors also motivate the technicians, because great advisors are also great leaders of people. 
      Think about this...Six months from now, your customer will not remember the fuel injection relay or the mass air sensor that was replaced....but she WILL remember how she was treated. 
      And trust me, that OE-quality fuel injection relay install by a certified A-level Master tech using Snap On tools and a Launch Scanner IS NOT the reason WHY your customers return to you....She returns because of the level of service your provide.
       
    • By DiscoDave
      I am helping a growing business to be more efficient.  As part of this, I am looking at a service to maintain our general hardware and supplies.  The shop needs a manager as the owner is too involved with the shop - and rightly so as he is highly respected in his arena.  That's another discussion.
      As he moved into a larger facility and hired more people. I'm working on efficiencies.  The current goal is to have common hardware an supplies on hand, always.  I am looking for a service to handle this.  I have spoken with Rogo, Fastenal and Kimball Midwest.   Any other suggestions?  Runs to the hardware store are costly...
      TIA,
      Dave
    • By Joe Marconi
      I can't speak about all businesses in my area, but the repair shops are doing ok. In fact, most had a normal or near normal summer.  A few weeks back we had a major storm that knocked out power for nearly the week. That killed the week. But aside from that, we had a very good June, July and August.   With a miserable March and April, this was a great morale lift and financial boost.
      The only  down side is the affect COVID is having on other businesses, like restaurants, deli's, sport businesses and other businesses. Will this have a trickle down effect on our industry.  No one can tell for sure.
      I will be shoring up my finances and preparing for the unknown. 
       
       
       


  • AutoShopOwner Sponsors



×
×
  • Create New...