https://www.youtube.com/watch?v=5UTRVy2s2tY Guest host, Mitch Schneider, Mitch's World and "Misfire the Book” Mitch will speak to the 5 levels of knowledge and concentrates on the 5th; “You Don’t Want to Know What You Don’t Know”. Mitch's previous episodes HERE Virtual shop tour with John Constantin, Bison Fleet Specialists, Buffalo, NY. John's previous episodes HERE Weekly episode updates Dorman gives people greater freedom to fix vehicles by constantly developing new repair solutions that put owners and technicians first. By always innovating, Dorman has led the way in growing the aftermarket. Here you will see a few examples of a Dorman OE Fix. An OE FIX is a Dorman repair solution you can’t get from the original equipment manufacturer. It means they found a situation where they believe the OEM wasn’t giving repair professionals what they wanted, so we fixed it. Everything Dorman does is centered around providing customer value, both in the quality of products, and the creativity of solutions. Our engineers and designers go out of their way to save repair technicians time and save vehicle owners money. Want to really go under the hood? Take the Dorman Virtual Tour at www.DormanProducts.com/TourClick to go to the Podcast on Remarkable Results Radio
By Joe Marconi
I was asked recently if it's possible to be a true absentee owner. Here are my thoughts. First, it really depends on the staff, your position in your business and how the business is structured. There are shops that are run totally by a manager and the owner is not involved in the day to day. There are shop owners with multiple locations. There is no way to be at all locations at the same time.
Build the business by having a strong team. Find leaders in your business. Give others control and allow others to grow. You, the owner, do not have to be in on every single situation, and you should take time away from the business.
But remember, you are the owner and the primary leader. You set the tone.
Those are my thoughts...yours?
New guy here, looking into opening a new repair shop. Been in the industry for 15 years as a tech/manager.
I am looking into a new building/ piece of land to have a shop built on at hard signaled corner with 50K per day traffic count in an affluent neighborhood, over 40K households in a 3 mile radius with average income of $125K per year. Not any high end modern repair shops a 5 mile radius other than a few standard dealerships. Location is really great, or so it seems.
I am pricing out rent/mortgage to be between $36 and $50/sq ft for this shop. Proposed to be 7500 to 10,000 sq ft. The shop/brand we be marketed as an alternative to the luxury dealership, higher end with modern amenities compared to the normal 30 year old never updated repair shop and cater to the performance car community as well.
Plan is to have 4-6 techs with 1-2 writers. I have run numbers through a P&L statement and if the techs produce 8-10 hours per day the numbers work to pay the bills and make a 15-20% net profit.
My question is, is my rent too much? Depending on my labor rate and hours billed, my rent expense is between 15% and 20% of gross revenue. I know I have read and heard that auto repair should be closer to 5-10% but I know that location can affect this greatly along with many other factors. I know that the number work in my spreadsheet but I want some real world opinions if possible. Maybe someone is in a location or situation like mine and it is working great or maybe it isn't.
Let me have it!
By ASOG Podcast
ASOG Podcast Ep 48 - Eduardo Trevino on Becoming A Business Owner