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Charging What We are Worth [THA 212]


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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.

“He is ‘just a car guy’ with lots of knowledge and is brave enough to talk about it”. Maylan’s purpose is to educate leaders to be a better owner or service writer.

Carlo Sabucco, 2nd generation owner of Sil’s Complete Auto Care Centre. My father started the company September 1976, I joined in 1994 and succession of ownership in 2009. Company is now a 7000 square foot facility with 8 bays and 6 wonderful team members. I would never be here today without the team, the help of some amazing coaches, my peer group for the last 16 years, and lastly my wife Melanie. The last 2 years has been a steep learning curve of C Suite coaching, personal development, learning to be a better leader and focusing on where the industry will be in 5-10 years and preparing for it. Listen to Carlo’s other Episodes HERE.

Glenn Larson, Foothill Autoservice, Lake Forest, CA

 

Key Talking Points

  •  Defining “what is worth”The value equivalent to that of someone or something under consideration
  • The level at which someone or something deserves to be valued or rated
  • We are here to push you to rethink your labor ratesBuild your customer base to people that want to pay your price to have you maintain their vehicles
  • Weed out customers who don’t want to pay the rates
  • 80/20 Rule - 80% of your profits come from 20% of your customers
  • Successful yearReputation
  • Word of mouth advertising
  • Focus on your peopleCustomers
  • Employees
  • Emotion is a big driver in worth and what we charge
  • 3 angles of worthWorth of the businessThe right tools
  • The right technicians
  • Do you believe in your employees
  • Worth of the mathematicsFormulas
  • Calculations
  • Are you the owner-worthy?
  • Does your facility warrant what you charge?Can you walk thru your place and say “I actually should be charging more?”
  • Do I need to clean house here and change things around to make it look a little better?
  • Do I need better tools?
  • If you don’t look like you belong, no one will pay your ratesUse good parts
  • Have certified technicians
  • We get paid for our knowledge, not what we do
  • The business is meant to work for us, we’re not there meant to work for it
  • Every shop in every area is differentRaise labor rates 2% every quarter
  • How to’s and why’s of figuring out what to chargeKnow that you have to charge more
  • Know the value of your business
  • The cost of doing business
  • Running the business on “jingle factor” is not P&LFocus on net profit
  • What net do you need?
  • Why do you need net?
  • Paralysis by Analysis
  •  Final thoughtsGlennIf you have more self respect for yourself and realize what you’ve put into the industry and what your value is to this industry, this will help you charge what you’re worth
  • Your customers want you and your team to take care of their car and they will pay what you charge
  • CarloYou gotta make money because no one will be at your retirement party because you didn’t know how to run a business. If you don't make money, they’re not gonna be there to write you the check to take care of you in retirement.
  • If your business goes under, it’s your fault
  • MaylanWe have to understand our business
  • Profit is not a bad word
  • If something happens to you right now, how is this business gonna support your family with day to day expenses
  • Your employees depend on you to make a profit so you can stay in business
  • The value to your customer

Resources:

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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 getshopware.com

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This episode is brought to you buy Shop Marketing Pros. Your guides are Kim and Brian Walker with a rich history as shop owners and industry veterans. When someone searches for a shop, who are they finding? Your competitors? It should be you! The good people over at Shop Marketing Pros know how to drive website traffic and make Google work for you! www.shopmarketingpros.com

Click to go to the Podcast on Remarkable Results Radio

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      Mobile Listening APP’s HERE
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      Facebook   Twitter  LinkedIn   Instagram  Youtube   Email  
      Mobile Listening APP’s HERE
      Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE.
      Buy Carm a Cup of Coffee 

      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

      This episode is brought to you by Shop Marketing Pros. Your guides are Kim and Brian Walker with a rich history as shop owners and industry veterans. When someone searches for a shop, who are they finding? Your competitors? It should be you! The good people over at Shop Marketing Pros know how to drive website traffic and make Google work for you! www.shopmarketingpros.com
      Click to go to the Podcast on Remarkable Results Radio
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      Lastly, here’s something you need to accept as a business owner. There isn’t a process anyone can create that will make up for mishaps caused by employing the wrong people. You do need to have processes and policies in place. It’s how you build a smooth-running and efficient business. However, we don’t run a McDonalds or a Dunkin Donuts. We can’t make up for poor customer service with a process or with a point-of-sale computer terminal. The processes and policies you create will only work the way they were intended to when you have employees fully aligned with your culture and have the right attitude. You need to have the right people. 
      There are many components of business. The financials, choosing the right vendors, training, equipment, and advertising are among them. The two most important components of your business are your employees and your customers. However, you have great control over who you hire. And we all know, great employees create great customers.  Assemble the right people around you and the rest will fall into place. 
      This story was originally published by Joe Marconi in Ratchet+Wrench on August 5th, 2020


      View full article


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