Auto Repair SBA Loan Application Help COVID-19
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By carmcapriotto
Bill Nalu is President of Interstate Auto Care in Madison Heights, Michigan and has been in business for 30 years. He collaborates with industry professionals, in building today’s “high-tech/old-fashioned” customer service system. Bill has been a big contributor to the podcast and he currently serves on several industries and educational advisory councils including AutoValue/Bumper to Bumper, Dorman Industries, and Cardone. Listen to Bill’s previous episodes HERE.
Key Talking Points
What are you grateful for? The world isn’t ending. Stop comparing yourself to the content coming at you. When you make a decision to move forward, don’t turn around and second guess yourself Leadership comes through gratitude Hire compliments to yourself Suffering comes from judgment “Air smells the best and freshest after a hard rain” Awareness- isn’t that you’re having a thought, but that you are aware you are having a thought. That is your consciousness. Learn from other people’s second chances before you have to be the one to learn from your second chance. You must have balance. Compassion- there’s more going on in people’s lives than you know about If you want respect, respect someone into respecting themselves Consumerism- willing to pay extra Do you hire for work ethic attitude? Do you love what you do for a living Suffering comes from judgment- wean yourself off of the judgment that you have centered around you, judgment that comes toward you, and judgment that you place on yourself The grass isn't always greener Book “Who not How” LINK "Every Life Has a Story" Chick Fil A LINK Connect with the show:
Aftermarket Radio Network
Subscribe on YouTube
Visit us on the Web
Follow on Facebook
Become an Insider
Buy me a coffee
Important Books
Check out today's partners:
This episode is brought to you by AAPEX, the Automotive Aftermarket Products Expo. AAPEX represents the $740 billion global automotive aftermarket industry and has everything you need to stay ahead of the curve. AAPEX 2021 is in the record books and lived up to presenting leading-technical and business management training from some of the industry’s best and brightest. Now set your sights on Las Vegas in 2022. Mark your calendar now … November 1-3, 2022, AAPEX - Now more than ever.
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/carm
Click to go to the Podcast on Remarkable Results Radio
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By spencersauto
What's your houlr labor rate and where are you located? We're currently at $95 in Texas
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By ASOG Podcast
Brian Walker of Shop Market Pros explaining what makes them different at the TOOLS Conference 2021.
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By carmcapriotto
Charlie Marcotte is the owner of American Pride Automotive and Founder of Transportation Matters. After serving in the U.S. Army, Charlie and his wife Diane moved to Virginia in 1988 and started their family in 1992. Putting food on the table was the primary goal that started Charlie working on cars (illegally) from a 10′ by 20′ storage unit. A strong work ethic and love of cars allowed those humble beginnings to flourish into American Pride Automotive, with 4 locations serving the Virginia Peninsula. The family unit has always been Charlie’s driving force, with three successful children and a bouncing baby Grandson: Life is Good. Building a solid business is a point of pride for Charlie, but his true passion is Transportation Matters. The transportation Matters mission drives positive social change while delivering a competitive advantage to the independent automotive repair industry—the same industry which has provided Charlie with so much opportunity.
Listen to Charlie's other episodes HERE
Dustin Brown, Brown Auto Experts, 3 Locations in New Mexico, Albuquerque, Village of Los Ranchos and Rio Rancho. Dustin and Nolan Brown are brothers that are third-generation mechanics. Their father Donald started Browns Automotive in 1982.
Key Talking Points
Connect your brand to your community What has your contribution been during your entire career? Owning a business and supporting your community go hand in hand- hiring, retention, comebacks, customer relationships, word of mouth growth Transform your reputation in the industry- break the negative stereotype Charlie Marcotte is 7 years into a 10-year goal of donating $320,000 to local non-profits, he is proud to say that we are ahead of schedule. Success came from the process. Charlie developed a program called State Inspections for our Community. In VA, they have an annual safety inspection, the cost to the customer is only $20. For each State Inspection they perform, they set aside $5 to be given to a local NPO, they call it “making the mundane, meaningful”. American Pride is Facilitating the gift of a 2015 Ford Escape to the Williamsburg House of Mercy. One of their great fleet customers, Signature Stone, needed a transmission for their ’15 Escape. It’s an expensive transmission and in the end, it didn’t make sense to repair it but the rest of the car was in great shape. Charlie reached out to WHOM and asked if they had a family who could use reliable transportation, with the ability to maintain it - they did. Charlie reached out to a friend, Matt Lacy who owns Lacy Auto Parts, and suggested he donate a transmission, he did. He had their crew install the transmission at no charge. To make this donation a wise business strategy, Charlie will have a film crew coming to the shop to interview all 4 parties. Video content- keep it simple with a cell phone, quick and natural. It is real and intimate content. Don’t overthink it. Dustin’s primary charity is the Albuquerque Christian Children's Home. In the past, they were involved with many organizations such as Road Runner food bank, Coats for Kids, Toys for Tots, and Breast Cancer awareness foundation. 3 years ago they decided to stay focused on one local charity and provide support to them throughout the year. This has ensured the collections stay in the community. Consumable drive with customers started this month and will go to the end of the year (Paper/Plasticware, toilet paper, dishwashing, and laundry detergent, and so on, Things the home goes through all year long). Don’t just give back during the holidays, it needs to be done throughout the whole year. Dustin recently completed a training room: The goal is to get involved with local car clinics for new drivers and basic vehicle education such as tire pressure, changing a spare, and checking fluids. With a new training area, they hosted their first tech training event with the help of NAPA. It is also for technicians in the community to do more hands-on training. New driver clinic- changing tire, oil etc. Inspiration is followed by perspiration Family Service Day- free automotive care and repair paired with the local church, helped over 1,000 families Connect with the show:
Aftermarket Radio Network
Subscribe on YouTube
Visit us on the Web
Follow on Facebook
Become an Insider
Buy me a coffee
Important Books
Check out today's partners:
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.
Click to go to the Podcast on Remarkable Results Radio
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By carmcapriotto
Bill Haas is the owner of Haas Performance Consulting LLC, with 40 years of experience in the automotive service and repair industry. Clients now have access to Bill’s solution based focus, expertise, unique perspectives and in-depth knowledge of the industry. Services available include business management seminar development and delivery, keynote presentations, business consulting, performance coaching, and strategic planning facilitation. His career includes time as a technician, shop owner, technical trainer and most recently on the staff of the automotive industry’s oldest and largest association representing automotive service and collision repair businesses. .Bill received the Accredited Automotive Manager (AAM) credential from the Automotive Management Institute in 1996 and has been a member of the Automotive Management Institute’s faculty since 2002
Listen to Bill's other episodes HERE
Key Talking Points
Successor struggle- when every day is a struggle “Advanced Financial Strategies for Peace of Mind”- what is it that you need to pay attention to in business? KPI’s need to be reviewed every day, don’t wait until the end of the month. It needs to also be shared with employees. “If you don’t share, they don’t care.” Don’t make decisions without data- it lets you know what you need to work on and prioritize. Strategic thinking instead of working on many things at once. How do you know what to fix? Pause and do analysis. Make cars count vs car count. Coaches change clients- is this someone who is willing to put words into action? You need an investable business in order to retire- can’t wait until the end to start working on your business You have to want to change yourself and your business. If not don’t hire a coach or even join a networking group Focus on one particular area of concern, get it right, then move on to the next. Stop the smorgasbord of quick fixes. You can’t wait to fix the business when you want to sell or retire. It takes a few years depending on the depth of the struggle P & L statement- don’t ask your accountant how the business is doing, don’t rely on them to take the pulse of the business. Most accountants have clients in all different industries, they don’t know how to “fix” your automotive service business. Ask them to perform one job and that is to minimize your tax liabilities. Finances in your business is just a big math problem to solve Labor rate- gross profit percent on labor, labor parts split, hours per repair order Sales forecasting and budgeting- have goals, targets and expectations Connect with the show:
Aftermarket Radio Network
Subscribe on YouTube
Visit us on the Web
Follow on Facebook
Become an Insider
Buy me a coffee
Important Books
Check out today's partners:
This episode is brought to you by AAPEX, the Automotive Aftermarket Products Expo. AAPEX represents the $740 billion global automotive aftermarket industry and has everything you need to stay ahead of the curve. AAPEX 2021 is in the record books and lived up to presenting leading-technical and business management training from some of the industry’s best and brightest. Now set your sights on Las Vegas in 2022. Mark your calendar now … November 1-3, 2022, AAPEX - Now more than ever.
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/carm
Click to go to the Podcast on Remarkable Results Radio
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By Joe Marconi
January 2020 started without a hitch. We hit our sales and profit goals in textbook fashion. However, by the end of February, it was obvious that something wasn’t right. Sales for the month dipped by more than 30 percent. It was devastating. What we didn’t realize was that this was just the beginning of even greater losses. By the time Governor Cuomo of New York issued the stay-at-home order on March 22, sales had dropped 75 percent. With most of the country in lock-down, I didn’t know what to fear more—the coronavirus or the impending financial disaster the world was about to endure.
Before we go on, it’s important that we all remember those that have lost their lives due to COVID-19. As in any crisis, there will be suffering. However, as a society, we must not dwell on it or let the crisis beat us. We must find a way to fight it and succeed.
When the impact of the virus first hit, emotions filled my mind every waking moment, mostly due to the uncertainty of the situation. Then, reality set in and all I could think about was my obligation to others. As an essential part of the community and the nation, it was my obligation to keep the doors open and be there to make sure that those that needed to get to work, could. If we were to win, survive and thrive, we had to create a winning environment. That meant that I had to elevate my leadership to a new level, put the health and welfare of my staff before anything else and realign my goals. In the coming days and weeks, I would get a working man’s PhD on how to win in times of crisis.
The first lesson learned in all this is to have the right mindset. We can’t look backward in time or wait around for a return to what we perceived was once normal. Looking forward and building a new future is all that matters. If you tell yourself, “the sky is falling.” It will. Negativity spreads like a virus and infects everyone around you. Your mind shuts down in panic mode, clouding your judgment and mentally and physically paralyzing you. You must remain mentally strong and positive, even when you know the brutal facts of the situation. This is crucial. You, the leader of your shop, cannot lead others if you show fear and negativity. Be human, show emotions, but have the mental fortitude and show your team that we will get through this crisis.
The next lesson is to make sure you have the right people around you. A strong team with the right culture is important in business. In times of crisis, it’s the difference between success and failure. As the weeks unfolded, it became clear to me who my leaders were. It would be those employees that I would turn to in order to maintain morale and lift everyone’s spirit. Leaders cannot succeed without having the right team around them. Take a look around you. Do you have the best employees with the right attitude? If not, begin the recruiting process today.
Realigning my goals and understanding my new key performance numbers was next up. My 2020 business plan, created in December 2019, had little meaning by mid-March. I am not admitting defeat for the year by any means. Rather, we now have new objectives and a clean slate. From this point on, it is critical that we remain profitable: watching every expense, tracking production, keeping payroll within budget, and building for the future. The past is the past, it cannot be changed. What we have now is the opportunity to make each day better than the day before.
Perhaps the biggest lesson learned was more of reminder than a lesson. It’s that above everything else, people come first. All the planning, goal setting, marketing and number crunching mean nothing unless you understand that you, as a shop owner, have the power to achieve great things by your words and actions. Yes, it all goes back to leadership and understanding your obligation you have to others. All of us will have different lessons learned from crisis. Which means, there is great opportunity on the horizon. Use those lesson to make your tomorrow better than yesterday.
My hope is that by the time you read this article, COVID-19 will be well under control. Human interaction is crucial to our overall well-being. We need not only, the emotional touch of another person, but also the physical touch of others. While Facetime and Zoom will get us through, it will never replace a good old fashion handshake and a hug.
This story was originally published by Joe Marconi in Ratchet+Wrench on June 5th, 2020
View full article
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By Mark Johnson
Are you a Iowa shop owner? If you have been affected by COVID-19, have 2-25 employees and have a location in the state you can get a grant of between $5,000 and $25,000 from the Iowa Small Business Relief Grant Program. (If you are not from Iowa please tell friend from the state) YOU MUST APPLY NOW! (Deadline is March 31, 2020) So what information do you need? A LOT! ● Most recent Income Statement ● Revenue Loss Analysis ● Most recent Balance Sheet ● Payroll Schedule And Analysis ● Funds utilization report ● Fill out All Paperwork You need to apply now because applications close March 31, 2020. This is FREE money, don't let it pass.
We are currently helping business owners to access this grant. For more info please call us at 1954-324-0803 or book an appointment at https://calendly.com/markjohnsontaxplanner/45min
View full article
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By Joe Marconi
January 2020 started without a hitch. We hit our sales and profit goals in textbook fashion. However, by the end of February, it was obvious that something wasn’t right. Sales for the month dipped by more than 30 percent. It was devastating. What we didn’t realize was that this was just the beginning of even greater losses. By the time Governor Cuomo of New York issued the stay-at-home order on March 22, sales had dropped 75 percent. With most of the country in lock-down, I didn’t know what to fear more—the coronavirus or the impending financial disaster the world was about to endure.
Before we go on, it’s important that we all remember those that have lost their lives due to COVID-19. As in any crisis, there will be suffering. However, as a society, we must not dwell on it or let the crisis beat us. We must find a way to fight it and succeed.
When the impact of the virus first hit, emotions filled my mind every waking moment, mostly due to the uncertainty of the situation. Then, reality set in and all I could think about was my obligation to others. As an essential part of the community and the nation, it was my obligation to keep the doors open and be there to make sure that those that needed to get to work, could. If we were to win, survive and thrive, we had to create a winning environment. That meant that I had to elevate my leadership to a new level, put the health and welfare of my staff before anything else and realign my goals. In the coming days and weeks, I would get a working man’s PhD on how to win in times of crisis.
The first lesson learned in all this is to have the right mindset. We can’t look backward in time or wait around for a return to what we perceived was once normal. Looking forward and building a new future is all that matters. If you tell yourself, “the sky is falling.” It will. Negativity spreads like a virus and infects everyone around you. Your mind shuts down in panic mode, clouding your judgment and mentally and physically paralyzing you. You must remain mentally strong and positive, even when you know the brutal facts of the situation. This is crucial. You, the leader of your shop, cannot lead others if you show fear and negativity. Be human, show emotions, but have the mental fortitude and show your team that we will get through this crisis.
The next lesson is to make sure you have the right people around you. A strong team with the right culture is important in business. In times of crisis, it’s the difference between success and failure. As the weeks unfolded, it became clear to me who my leaders were. It would be those employees that I would turn to in order to maintain morale and lift everyone’s spirit. Leaders cannot succeed without having the right team around them. Take a look around you. Do you have the best employees with the right attitude? If not, begin the recruiting process today.
Realigning my goals and understanding my new key performance numbers was next up. My 2020 business plan, created in December 2019, had little meaning by mid-March. I am not admitting defeat for the year by any means. Rather, we now have new objectives and a clean slate. From this point on, it is critical that we remain profitable: watching every expense, tracking production, keeping payroll within budget, and building for the future. The past is the past, it cannot be changed. What we have now is the opportunity to make each day better than the day before.
Perhaps the biggest lesson learned was more of reminder than a lesson. It’s that above everything else, people come first. All the planning, goal setting, marketing and number crunching mean nothing unless you understand that you, as a shop owner, have the power to achieve great things by your words and actions. Yes, it all goes back to leadership and understanding your obligation you have to others. All of us will have different lessons learned from crisis. Which means, there is great opportunity on the horizon. Use those lesson to make your tomorrow better than yesterday.
My hope is that by the time you read this article, COVID-19 will be well under control. Human interaction is crucial to our overall well-being. We need not only, the emotional touch of another person, but also the physical touch of others. While Facetime and Zoom will get us through, it will never replace a good old fashion handshake and a hug.
This story was originally published by Joe Marconi in Ratchet+Wrench on June 5th, 2020
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By Joe Marconi
Due to COVID-19, many repair shops experienced a severe economic downturn, some with a drop in sales over 50%. Without a strong cash reserve and/or SBA funding help, many shops would have gone under.
My 40 years as a shop owner has taught me to always have a cash reserve. However, never would I have ever imagined a downturn like the one with COVID-19.
So, how do we plan for the next financial crisis. And, it will happen. Perhaps not as bad as the the virus crisis, but it will happen.
Here are a few things to consider: Have a separate, and hard to access, cash reserve bank account that has least two months of expenses. Also, secure a line of credit for at least one to two months of expenses. Also, know your numbers, keep payroll in line, and make sure your prices are fair to you too, not just your customers. Keep in good standing with all your vendors and keep your credit score high!
The bottom line here, is truly the bottom line. To weather the next financial downturn, you need a strong balance sheet and net profit to the bottom line.
What other strategies are you considering or implementing?
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By Joe Marconi
A ride to the Mall with my wife today (yes, I went to the Mall, got a problem?) gave me assurance that things are really getting back to normal. The stores were full, the roads were packed and expect for the masks people are wearing, you would think it's just another ordinary summer weekend!
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