I'm looking at opening an auto repair shop with a partner who is the mechanic and possibly another mechanic. I will be the sole investor in the venture never before been in the auto rapair shop business. I will most likely manage the whole thing. I need lots of help.
How are mechanics paid?
How do I pay myself and recoup my investment?
Shop management software? Looked at MaxxTraxx, Alldatapro.
What types of insurance must I carry?
I've found a nice place with three bays to rent but will need to install lifts. Should I shop used or new?
Etc etc etc.
Thanks for any help you can offer.
USA Today article (Friday September 27, 2019 by Nathan Borney - USA Today) shows that “the average age of cars and light trucks on U.S. roads reached an all time high of 11.8 years in 2018.”
The article goes on to claim... “By 2023, there will be about 84 million vehicles on the road that are at least 16 years old, reflecting a 240% increase from 35 million in 2002, according to IHS.”
Are you getting your share?
There’s only 90 days left in 2019 and the market is changing. Sorry, it HAS changed. Are you ready? Do you have your plans laid out for marketing your shop in 2020?
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Iv noticed over the years there are times when business/car count drops off by a huge amount all at once. Last year it was brutal in January and got worse in February. It got busier the 2nd week of March and was pretty steady the rest of the year with my best month ever in November then even topped that in December. But this year its back to the same. January came leads completely dropped out, February came and it got worse, just like last year. Now I know its just a waiting game and business will pick back up. Its not just me every shop in the area is completely empty. --- What triggers these pattern down turns? Has anyone ever figured that out? Thought?
Labor rate from $115 to $150 car count down 1/3 revenue up 6%.
Going on the third month that we raised our rates. Our best customers have stayed, trouble nickle and dime customers seem to have disappeared. ARO from 380 to 628.