Shop Owners: Can you ever unplug?
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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.
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By hello5555
I currently employ a mechanic and friend who has been with me for about 20 years. He was formerly a transmission rebuilder, but we have switched to mostly reman units and have no need for a rebuilder. His pay has remained the same despite his value declining. I am currently paying him roughly $100,000 a year. The problem i'm having is that his skill set is not near that pay level anymore. He does light diagnostic and basic managerial work, but I am not confident enough for him to run the shop for more than an hour. With the current state of the industry our numbers have gone down a bit over the last two years. While still being profitable, I can't help but think about the extra income that would be available by terminating this employee, I just dont know how to do it. Any advice on how to do this? I like him as a person and have known him a very long time, but I feel his is paid about twice as much as he is worth. Any help wouldbe greatly appreciated.
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By Joe Marconi
Shop owners, you have a little less than two months before the end of the year. And that means it's time to start thinkning about your Tax Planning for 2019. Don't procrastinate on this. Meet with accountant. Review the year, review profit. Consider things such as major equipmenet purchases and other major investments you made in 2019. Look at bottom line profit and determine if you set aside enough cash to pay your taxes come April 15, 2020.
One thing, Cash is King, So, before you purhase any major equipment before the end of the year, listen to your accoutant, not the Tool Sales-person. In many cases, it's better to pay some tax and hold on to cash for a rainy day.
A little planning now will save you big time in 2020, and also help you sleep better!
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By Elite Worldwide Inc.
Elite’s industry acclaimed Online Phone Skills Training, sponsored by Jasper Engines & Transmissions, has been proven to not only help shops bring in more new customers, but do so in a way that demonstrates your professionalism, your ethics, and shows your customers and callers that you truly care about them.
Here are just a few of the topics that will be covered during the three 45-minute modules (Weds, 7/17 through Weds, 7/31):
- Winning the confidence of those difficult first-time callers
- Effectively handling tough, persistent price shoppers
- Handling the most common and most difficult sales objections
- Understanding your callers and their emotional minds
- Using several proven techniques and tips to close more repair and service sales
- Converting your priceless callers into rock-solid appointments
It's only $179 to enroll, and availability is limited, so visit or Online Phone Skills page to learn more or reserve your seat today: https://www.eliteworldwide.com/phone-skills-training-for-auto-repair-shops.html
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By Ron Ipach
Brand New LIVE Workshop for Auto Repair Shop Owners.
...I've got to tell you I'm super excited because I just created the final details on this brand new Live Workshop that I'm going to be offering tomorrow at Noon EST
[ Register here for free: https://zoom.us/webinar/register/4815585386172/WN__Vh527KXQPSAmM8P97M0jw ]
I'm going to be covering the three most important things that you could ever do in your shop. These are the three things that the top shop owners are doing and they've mastered this and that's the sole reason why they are, well, BETTER than everybody else.
[ Register here for free: https://zoom.us/webinar/register/4815585386172/WN__Vh527KXQPSAmM8P97M0jw ]
It's the best training I'd say I've probably done in the 23 years that I've been doing this. So I'm super excited. I want you to join me go down below this video, click the button and I'll see you on the live training.
[ Register here for free: https://zoom.us/webinar/register/4815585386172/WN__Vh527KXQPSAmM8P97M0jw ]
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