Quantcast
Jump to content


Recommended Posts

Posted

If only we had a crystal ball to peak at the next 5 years. As a shop owner, you might still be booked out 2-3 weeks, but with gas prices, inflation, the great resignation, interest rates, and new and used car costs, what do you need to pay attention to in the short term to continue to be profitable and relevant?  Chris Cotton, AutoFix Auto Shop CoachingChris Cotton Weekly Blitz Podcast Hunt Demarest, CPA, Paar Mellis and AssociatesBusiness by the Numbers Podcast Joe Marconi, Executive Council Member, Elite Worldwide. Joe’s Episodes HERE. Michael Smith, Managing Partner, Herzberg Smith and Co, Michael Smith’s previous episodes HERE Jaron Kleber, National Sales Manager, Repair Shop of Tomorrow

Key Talking Points

  • Your employees should be your greatest strength. Invest in THEM to secure their future and the future of your business. Connect the dots with their goals and the company’s goals. Don’t ignore the people in your shop. Don’t get complacent.
  • Productivity, efficiency, and effective labor rate are the 3 most important numbers in your business
  • Systems, operations, and procedures. SOPs will set you free! Important to train the whole team on “what right looks like” so that everyone is rowing the boat in the same direction. It’s not about the one, it’s about the all. TEAMWORK makes the dream work.
  • The automobile service industry is undergoing a literal revolution. The boomers are increasingly aging out, the number of independent competitors is shrinking fast, being a future top-shop will require much more business sophistication in the future, and the third-party investor feeding frenzy has begun. Smart owners need a strong business strategy, steeped in their legacy and exit strategy, to lead through these changes rather than just playing catch-up.
  • Baby boomers retiring- 80-85% aren't worth making a private equity investment
  • Shop owners coming from outside the industry- thinking from a business perspective 
  • Elevating the industry through training and coaching
  • Profit vs cash- cash brings personal spending habits into play, preserving cash
  • Will it slow down? It matters what you do during the good times that will help you survive the bad times. Don’t let car count carry you. Redefine who you are and honed in

 

Connect with the Podcast:

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:

       

Set your sights on Las Vegas in 2022. Mark your calendar now … November 1-3, 2022, AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at AAPEXSHOW.COM/WEBINAR.

Shop-Ware-Call-To-Action-Graphic-v3.png Shop-Ware: More Time. More Profit. Shop-Ware Shop Management getshopware.com

ARN-Website-Banner-July-2022-1200x400-1.

Screenshot_340.png

Click to go to the Podcast on Remarkable Results Radio



Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Available Subscriptions

  • Have you checked out Joe's Latest Blog?

         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
  • Similar Topics

    • By carmcapriotto
      The Weekly Blitz is brought to you by our friends over at Shop Marketing Pros. If you want to take your shop to the next level, you need great marketing. Shop Marketing Pros does top-tier marketing for top-tier shops.
      Click here to learn more about Top Tier Marketing by Shop Marketing Pros and schedule a demo: https://shopmarketingpros.com/chris/
      Check out their podcast here: https://autorepairmarketing.captivate.fm/
      If you would like to join their private facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermind
      Visit ShopMarketingPros.com/chris to partner with a team that understands your business. Because every great shop deserves marketing that’s just as great. 
      Check out their podcast here: https://autorepairmarketing.captivate.fm/ If you would like to join their private Facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermindIn 
      To listen to more episodes, make sure and go over to iTunes and or Spotify.
      Don't forget to rate and review us!
      Connect with Chris:
      AutoFix-Auto Shop Coaching
      www.autoshopcoaching.com
      www.aftermarketradionetwork.com
      940-400-1008
      Facebook: https://www.facebook.com/AutoFixAutoShopCoaching
      YouTube: https://bit.ly/3ClX0ae
      Email Chris: [email protected]
      In this episode of "The Weekly Blitz," host Coach Chris Cotton takes listeners on a journey through both his personal and professional life, offering a glimpse into the milestones and aspirations that shape his career. Chris shares the exciting news of his upcoming graduation, a significant achievement marking the culmination of 34 years of dedication and perseverance in pursuing a bachelor's degree. This personal triumph serves as a testament to his commitment to lifelong learning and growth.
      As he looks to the future, Chris unveils his ambitious plans to develop a new educational series focused on the fundamentals of auto repair management. This series is designed to be a valuable resource for both new and seasoned shop owners, providing them with essential knowledge and strategies to navigate the complexities of the industry. By addressing key topics such as operational efficiency, customer service excellence, and financial management, Chris aims to empower shop owners to elevate their businesses to new heights.


      In addition to his educational endeavors, Chris highlights his active involvement with Worldpac, a leading distributor of automotive parts. Through this collaboration, he underscores the critical importance of staying attuned to market needs and trends within the auto repair industry. By understanding these dynamics, shop owners can better position themselves to meet customer demands and remain competitive in a rapidly evolving marketplace.


      Chris also takes the opportunity to promote Shop Marketing Pros, a marketing company that specializes in providing tailored services for auto repair shops. He emphasizes the value of partnering with experts who understand the unique challenges and opportunities within the industry, and how effective marketing strategies can drive business growth and customer engagement.


      Throughout the episode, Chris Cotton reinforces the theme of returning to fundamentals as a means to enhance business operations and customer service. By focusing on core principles and best practices, shop owners can build a solid foundation for success and create lasting value for their customers. This episode of "The Weekly Blitz" serves as both an inspirational narrative and a practical guide for those seeking to thrive in the auto repair industry.


      Introduction to the Episode (00:00:08)
      Coach Chris Cotton introduces the podcast and its focus on auto repair business insights.


      Personal Update: Graduation (00:01:09)
      Chris shares his excitement about graduating after 34 years of working towards his bachelor's degree.


      Future Plans and Opportunities (00:02:23)
      He discusses contemplating his next steps now that he has completed his degree.


      Expanding Services to Different Repair Industries (00:03:25)
      Chris outlines plans to better communicate the services offered to various types of repair shops.


      Worldpac Involvement and Upcoming Events (00:04:41)
      He mentions his role in organizing Worldpac's events and facilitating smart groups.


      Back to Basics: New Series Announcement (00:05:51)
      Chris reveals a new series focused on fundamental auto repair management concepts.


      Addressing Industry Challenges and Tariffs (00:06:59)
      He shares insights on current business challenges and the confusion surrounding tariffs.


      Business Performance Insights (00:08:01)
      Chris discusses the mixed feelings about business performance despite record sales in some shops.


      Call to Action: Finding Needs in Business (00:09:02)
      He encourages listeners to identify needs in their businesses and stay tuned for upcoming content.


      The Aftermarket Radio Network
      Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion
      Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.
      The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.
      #autofixautoshopcoaching #autofixbeautofixing #autoshopprofits #autoshopprofit #autoshopprofitsfirst #autoshopleadership #autoshopmanagement #autorepairshopcoaching #autorepairshopconsulting #autorepairshoptraining #autorepairshop #autorepair #serviceadvisor #serviceadvisorefficiency #autorepairshopmarketing #theweeklyblitz #autofix #shopmarketingpros #autofixautoshopcoachingbook
      Click to go to the Podcast on Remarkable Results Radio
    • By stevefry
      I have a client looking to sell their Auto Body Shop in Monteagle TN called Lakeside Collision. He is asking $1,500,000 and the property did a little over $1,200,000 last year. Profitable business with lots of equipment and inventory, newer paint booth and includes 2 lots and 2 buildings with 8 bay doors.
      Also have another client looking for an Auto Body business to purchase in Davidson County (Nashville) TN. Looking for a shop with the business and the real estate. 
    • By Joe Marconi

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • By MikesPlaceAuto
      Hello from Montana. Longtime mechanic/technician, first-time shop owner. Reaching out to many sources for information and advice. Small shop in rural setting, specializing in electrical and electronics. Thanks for any good words. Mike
    • By JustTheBest

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.



  • Our Sponsors



×
×
  • Create New...