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Millennials Are Becoming Your Most Important Employee and Customer – Kent Bullard [RR 804]


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Recorded live at AAPEX with Kent Bullard, COO, The Institute. We aren't done talking about millennials, we are just getting started. Find out why they are important to your business and as customers. Kent Bullard, COO, The Institute. Listen to Kent’s other episodes HERE. Show Notes:

  • Millennials are going to be the key players in the industry
  • Learn, apply and do things differently and better for the next time, be organized, gamification
  • Millennials need feedback, constructive criticism, information, and guidance, but we also need some freedom to be able to make mistakes and be able to get on our feet.
  • Adoption- 2 out of 3 of Kent’s children are adopted. “People look at our kids and say they are so lucky, but we (as their parents) are the lucky ones.”
  • Gamification- the advisor teams will compete to improve their parts margin. Educate them, and train them on how to do that. If you have an individual element and a team element where they can still earn a bonus on their individual performance and earn an additional bonus with the team that's performed well, then it becomes more viable because they're not just relying on the team itself.
  • Reward and incentivize the behavior you want to see


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 2023. Mark your calendar now … October 31 - Nov 2, 2023, AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at AAPEXSHOW.COM 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.png Screenshot_340.png

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  • Have you checked out Joe's Latest Blog?

         13 comments
      Most shop owners would agree that the independent auto repair industry has been too cheap for too long regarding its pricing and labor rates. However, can we keep raising our labor rates and prices until we achieve the profit we desire and need? Is it that simple?
      The first step in achieving your required gross and net profit is understanding your numbers and establishing the correct labor and part margins. The next step is to find your business's inefficiencies that impact high production levels.
      Here are a few things to consider. First, do you have the workflow processes in place that is conducive to high production? What about your shop layout? Do you have all the right tools and equipment? Do you have a continuous training program in place? Are technicians waiting to use a particular scanner or waiting to access information from the shop's workstation computer?
      And lastly, are all the estimates written correctly? Is the labor correct for each job? Are you allowing extra time for rust, older vehicles, labor jobs with no parts included, and the fact that many published labor times are wrong? Let's not forget that perhaps the most significant labor loss is not charging enough labor time for testing, electrical work, and other complicated repairs.  
      Once you have determined the correct labor rate and pricing, review your entire operation. Then, tighten up on all those labor leaks and inefficiencies. Improving production and paying close attention to the labor on each job will add much-needed dollars to your bottom line.
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