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[Podcast] Surviving an Economic Downturn [THA 165]

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Ron Ipach, co-founder or Repair Shop Coach, has helped over 5536 auto repair shop owners to get and keep all the top-quality customers they can handle.

Marketing auto repair services are all he does. He lives, eats, and breathes it every day. He has seen, heard, and tested practically every kind of marketing there is out there today. He’s examined the results. He’s tweaked and tested dozens of strategies over and over in order to maximize their results.

Because Ron has personally worked with so many shop owners over the years, he has the distinction of being the only person in the world that knows exactly what marketing works, and what doesn’t work for auto repair shops in today’s economy. He finds passion in amplifying time & freedom for his clients while helping them take back control of their businesses. Find Ron's other episodes HERE.

Maylan Newton from ESI – Educational Seminars Institute is a business coach, trainer and industry speaker. Maylan is no stranger to the podcast having paid it forward many times. He is a much sought our speaker at industry events in the US. Find Maylan’s previous episodes HERE.

Chris Cotton utilizes the Profit First method of cash management. He is trained and certified by the Profit First Professionals organization to guide business owners and entrepreneurs in maximizing their profits.

AutoFix is the first and currently the ONLY auto repair shop specific coaching company, nationwide, that has achieved certification in Profit First.

Chris Cotton has been in the customer service industry for over 40 years and has been in the auto repair industry for over 25 years. He is a former shop owner that has dedicated his life to helping YOU to get your business where you want it to be and helping you FOCUS on the things that matter to you. Find Chris’ other episodes HERE.

Talking Points:

  • Coaches are asking to rely on them for guidance more than ever
  • Coaches are talking to shop owners who may not even be their clients to help them
  • Coaches are feeling fearful. It is time to be optimistic
  • Some coaches wisdom is not coming true for many clients
  • Closing even for a week does not save you on fixed costs
  • Time to be lean and meanTighten up your spendingReview your spending habits or disciplines
  • Do you need every expense item
  • If you spend it should help make you money
  • Cash is KingFour to six months of costs saved to sustain your business
  • We are in a ‘recession-proof’ industryWe must weather cash flow issues
  • Market AlwaysSpend wisely on marketing in good times or bad
  • There are many tactics but few strategies. We sometimes try new things so often that we lose track of the overall strategy of growing and keeping customers.
  • Your current database should be locked into you. Caged!
  •  Be nimble and make decisions and learn from what works and what doesn’t
  • The fear factor and emotional factor are real and logic and facts must rule
  • Don’t lower your price or discount or lower your labor rate. These are emotional, not logical decisionsThe fear of the what if’s may build a defeatist attitude
  • You believe you need to do these things but look carefully at your demographic, your market and your business
  • Don’t do something because one person said something
  • What if there is free diagnostics but the customer cannot afford the diagnosis
  • Help people out if you have the ‘Cash’ to do it. If you don’t it is tough to give what you don’t have
  • There is alternative financing available
  • There will be a slowdown in car count, but you may see an increase in average ticket because you have more time to look at the vehicle
  • Don’t:Cut back on your marketing budget
  • Buy the latest piece of equipment
  • Hold cashing your own paycheck
  • Do:Review your expenses
  • Review your team. Look at loyalty. Tough decisions to make, but tough times require tough decisions
  • Call customers that have not had work done on their previous visit. Write a script 
  • Reach out to your community and offer your services to keep food and deliveries on the road
  • Look at your work/income vs your work schedule. Don’t sacrifice the entire business for full employment.
  • Talk to your people ask for their help and ideas
  • Start to segment your cash in the strategy of ‘Profit First’
  • Profit First Episode with Mike Michalowicz HERE.
  • In the case of Covid-19, you need to consider your options. There are two currentlySBA (a loan)
  • CARE Act (apply for the grant)
  • Money from the government is not a reason to keep doing business as usual. It is time to change and learn stronger business acumen, hire a coach, read books, listen to RRR podcasts, join a peer group among others
  • A client of Maylan’s went to her bank to apply for SBA loan and was told that because she had a credit line and some cash reserves she would probably not qualify for an SBA. (We are not experts, this is the repeat of a single situation)
  • Your business is your best investment.
  • Every shop today can be super successful
  • You must maintain a positive attitude. No negative thoughts are spoken to your team
  • Try something. If it doesn’t work tweak and try something else
  • Don’t go through this crisis alone. Once over there will be additional crisis/challenges that you will face, prepare for this
  • If you want to see your current situation, look in the past. If you want to see your future look at what you are doing right now

Resources:

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Mobile Listening APP's HERE

Join the Ecosystem - Subscribe to the INSIDER NEWSLETTER HERE.

Buy Carm a Cup of Coffee 

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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 shop-ware.com

Click to go to the Podcast on Remarkable Results Radio

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  • Have you checked out Joe's Latest Blog?

    • Joe Marconi
      The Technician Shortage Is Our Fault, And It's Time We Own It
      By Joe Marconi in Joe's Blog
         0 comments
      The Technician Shortage Is Our Fault, And It's Time We Own It
      Nearly every day, I hear shop owners complain: "There's a technician shortage. We can't find qualified people. There's no one out there." If that's true, then who's to blame?
      The industry? The schools? The government? I don't know how you feel, but who promised us an endless supply of qualified technicians?
      Another common complaint is that young people do not want to work in the trades. Well, if that were true, then why are other trades such as HVAC, electrical, and plumbing growing? What are they doing that the automotive industry is not? 
      Here's the reality we need to face: We do have a problem, but we shouldn't look for someone or any entity to rescue us. Not the government. Not the trade schools. Not the recruiting companies. No one owes us a workforce. If we want great people in our industry, it's up to us. At some point, we need to own up to the truth: Building a pipeline of qualified technicians is our responsibility.
      In this blog article, I will break down the key reasons we are in this situation today and what we, as an industry, can do to solve the technician shortage. Are you ready to look in the mirror?
      Have We Pushed Technicians Away?
      Let's take a look at flat-rate pay. True flat rate, which pays a technician only for the hours they produce, is a controversial pay plan that emphasizes high production levels and creates a competitive work environment that, if not properly controlled, can lead to increased mistakes and a decline in morale and team spirit. Additionally, the stress and physical demands placed on technicians as they age are not favorable to long-term employee retention. What do we do with technicians as they grow older into their fifties and begin to slow down? 
      I have heard all the arguments and pros and cons of flat-rate pay, and I am not going to judge any pay plan. Let the facts speak for themselves. True flat rate has changed in most areas around the country and has evolved into a pay plan that gives technicians some pay guarantee.
      Many shop owners have learned that team morale, along with the opportunity to earn income, is important to technicians and to the company's long-term success. But let me ask you: how many technicians have left or been pushed out over the years because of the old flat-rate pay system?
      Another issue is the workplace environment. I remember being grateful to be hired as a young technician at a local repair shop. While very thankful, the work environment was not ideal. The shop owner kept the bay doors open year-round (I am from New York) unless it rained or snowed. He felt that if the bay doors were closed, customers might think we were closed for business. We had no heat and no hot water. Many of the jobs were done outside, year-round,  in all types of weather. The starting pay was minimum wage, with no benefits, sick days, or vacation pay. 
      Now, again, I need to point out that I was truly grateful for the opportunity this shop owner gave me. I learned a lot working there, and the experience was pivotal in my career. But looking back, I wonder how many people were discouraged by these working conditions?
      While the physical demands of the repair workplace are daunting, perhaps even more critical is the culture. Too many of my generation shop owners preached the mindset of "my way or the highway." We were the business owners, after all. We started our companies, took all the risks, and provided jobs. Why shouldn't we be the ones to set the ground rules our way?   
      Many of us found over the years that the "my way or the highway" mentality was a sure way to isolate employees and make them more likely to look over the fence for greener grass. In other words, it led many technicians to seek employment elsewhere, where they felt they could be appreciated and recognized for their hard work. The issue, however, was that there wasn't much green grass around. Disappointment after disappointment, bouncing from repair to repair shop, eventually led to despair. So, I ask you: were workplace conditions a contributing factor in today's technician shortage?
      Another factor that we are all well aware of is the complexity of the modern automobile. When I started, the work was mostly physical, and you were required to master essentially three vehicle models: General Motors, Ford, and Chrysler. Let's fast-forward to today. The evolution of automotive technology, along with the extensive training and tools required, has outpaced the typical technician's pay compensation, with no clear career path. Again, leading to frustration and insecurity about the future.
      Here is the bottom line: people don't leave their job; they leave their experience. We must do a better job. 
      The News Isn't all Bad; Your Next Steps to Fix the Technician Shortage
      To fix the technician shortage, it will take a combined effort from everyone in the automotive industry, particularly automotive shop owners. Shop owners are in the perfect position to make the greatest impact, not only on their businesses but also on the future automotive workforce.
      First, shop owners must become better leaders and understand that their ultimate success is directly dependent on the people they assemble around them. Any shop owner who mistakenly believes they can build an empire solely on their abilities is destined for serious disappointment. Business owners who think like this will eventually plateau. Without the collective contributions from a team of qualified people, your business will stall; it will not continue to grow.
      Create a workplace that attracts top talent: a clean, professional, well-equipped facility designed to support productivity, teamwork, and a career, not just a job. Build a great reputation in your community by getting involved locally. Become the auto repair shop that people take notice of as "the" place to work.
      Next, shop owners must become more financially knowledgeable. Knowing your numbers and what you need to achieve for a strong bottom-line profit is essential to paying technicians the money they need and deserve. Profit will also allow you to compete with other trade industries by providing a benefits package that has real take-home value and security.
      When it comes to culture, this is where the rubber hits the road. People crave recognition, praise, and a sense of purpose. Despite what you hear, people are not just money-motivated. Once people feel secure in their financial situation, retaining and motivating technicians can only be achieved by connecting with them on an emotional level. You cannot show enough appreciation. Give out praise for a job well done as if your business depended on it, because it does.
      As technicians age, we need to have a place for them. Expecting a 58-year-old to perform like a 35-year-old is unrealistic. We need to be more focused on career pathing. Provide training, skill development, and coaching to develop leaders and mentors within our older workforce. While their bodies may have slowed, the knowledge they have gained is priceless. 
      Our future is dependent on young people entering our industry. We need to give more young people opportunities. Every shop owner across the country should consider hiring an apprentice, then build an apprentice training plan and career path for them. If every shop did this, we could solve the technician shortage within five years. Get involved with the trade schools and high schools in your area. Look into the NAPA Apprenticeship Program. Don't sit on your hands with this one. Do it today.
      Lastly, don't get left behind. Commit to ongoing training for all your employees. Keep up to date with tools and equipment tailored to your business model. Don't try to be all things to all people and all vehicles. Identify your core profile customer and the vehicles they drive, and become an expert on those vehicles and the services you offer.

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