What Is ADA Compliance And How Does It Affect My Website? - The Auto Repair Marketing Podcast
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By Joe Marconi in Joe's Blog0 commentsIt 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.
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By carmcapriotto
Thanks to our partners, NAPA TRACS and Promotive
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
Click to go to the Podcast on Remarkable Results Radio
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By carmcapriotto
Thanks to our Partners, NAPA TRACS, AutoFix Auto Shop Coaching, and Today's Class Join a discussion with multi-shop operators Dwayne Myers and Rick Levitan, as well as CPA Hunt Demarest, on the intricacies of purchasing a business. They cover the necessity of due diligence, understanding financials, and the emotional aspects of negotiation. The panel shares personal experiences, highlighting the importance of realistic financial projections, environmental assessments, and the role of goodwill in valuations. They advise on building strong banking relationships, scrutinizing financial statements, and respecting sellers' emotional ties, emphasizing patience and strategy for successful acquisitions in the automotive industry. Hunt Demarest, CPA, Paar Mellis and Associates, Business by the Numbers Podcast Dwayne Myers, Dynamic Automotive, 6 locations, Maryland. Dwayne’s previous episodes HERE. Rick Levitan, Managing Director, Auto Stream Car Care, MD. Show Notes
Real Estate Strategies with Rick Levitan [AW 170]: https://remarkableresults.biz/remarkable-results-radio-podcast/aw170/ The challenges of obtaining accurate financials (00:02:03) Discussion on the challenges of obtaining accurate financials when buying a business. The importance of common sense in business acquisitions (00:06:30) The panel discusses the importance of using common sense and avoiding emotional attachment when considering a business acquisition. Legal and financial considerations in business acquisitions (00:08:24) The panel discusses legal and financial considerations, including the importance of asset purchase, non-compete agreements, and the quality of real estate. Financing Considerations (00:18:13) Discussion on the critical role of financing in business acquisitions and the advantages of using banks or owner financing. Bank Relationships (00:19:09) Importance of building a relationship with a bank and leveraging the bank's confidence in the buyer's ability to expand. Financial Statement Analysis (00:20:27) Importance of thoroughly analyzing financial statements, including understanding expenses and discretionary non-recurring expenses. Negotiating the Deal (00:22:24) Strategies for negotiating the price and terms of the acquisition, including considering the concerns of the seller and assessing the facility's assets. On-Site Q&A (00:23:31) The checklist and tactics for conducting a site visit to assess a potential acquisition, including evaluating equipment, employees, and the owner's future plans. Pro Forma and Business Plan (00:25:23) The necessity of creating a pro forma and business plan for the bank, including the importance of conservative projections and understanding the return on investment. Challenges of Multi-Shop Expansion (00:30:34) Discussion on the challenges and missteps often encountered by individuals expanding into multi-shop operations, emphasizing the need for patience and learning from experiences. Gas Station Red Flags (00:32:41) The importance of environmental assessments. Emotional Aspects of Buying (00:34:08) The emotional nature of buying a business. Goodwill and Equipment Allocation (00:38:49) Discussion on goodwill, equipment, and the allocation of the purchase price in a business acquisition, including tax implications. Understanding Multiples in Business Valuation (00:39:32) Explaining the concept of multiples in business valuation and the factors that influence the multiplier, such as location, equipment, and reputation. Negotiating Purchase Price (00:42:23) Negotiating the purchase price based on business valuation and real estate factors. Final Thoughts on Business Acquisition (00:44:03) The importance of staying positive and finding creative solutions during negotiations, leaving deals on good terms, and expressing appreciation for the insights shared. Thanks to our Partner, NAPA TRACS NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Thanks to our Partner, Auto-Fix Auto Shop Coaching Proven Auto Shop Coaching with Results. Over 61 Million in ROI with an Average ROI of 9x. Find Coach Chris Cotton at AutoFix Auto Shop Coaching on the Web at https://autoshopcoaching.com/ Thanks to our Partner, Today's Class Optimize training with Today's Class: In just 5 minutes daily, boost knowledge retention and improve team performance. Find Today's Class on the web at https://www.todaysclass.com/ Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on X (Twitter): https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections
Click to go to the Podcast on Remarkable Results Radio
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By Changing The Industry
Has Certification Testing Been Dumbed Down? #podcast #automotivebusiness #carrepair
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By carmcapriotto
This week, Hunt unravels the mystery behind the AMC and GameStop stock phenomena that has captivated the financial world.
Institutional Investors: Who they are and their impact on the stock market. Private Equity Dynamics: How firms like Bain Capital manipulate markets. Short Selling: A simple explanation of this complex strategy. Public Power: How individual investors can influence stock prices.
Thanks to our partners, NAPA TRACS and Promotive
Now show notes!
Did you know that NAPA TRACS has onsite training plus six days a week support?
It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.
Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com
It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book: Download Here
Aftermarket Radio Network
Click to go to the Podcast on Remarkable Results Radio
-
By carmcapriotto
Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Explore the importance of adhering to safety regulations, the role of common sense in maintaining a safe work environment, and practical tips for small businesses to comply with OSHA standards. Discussions include the significance of Personal Protective Equipment (PPE), how OSHA inspections are triggered, and examples of common safety oversights in the workplace. The conversation also covers the precautions necessary for handling electric vehicles (EVs), the necessity of monthly safety inspections, and the critical role of safety in retaining qualified technicians. Tom Herrmann, Small Business Safety & Compliance Company, LLC. [email protected] Show Notes
A Real World Perspective on Safety [RR 916]: https://remarkableresults.biz/remarkable-results-radio-podcast/e916/ OSHA regulations and enforcement (00:02:22) Discussion about OSHA regulations, enforcement, and the consequences of non-compliance. Common sense safety measures (00:03:50) The importance of common sense safety measures and examples of common sense safety practices. Safety violations and fines (00:04:22) Examples of safety violations and the associated fines for non-compliance with safety regulations. Creating a safe work environment (00:06:15) The importance of creating a safe and healthy work environment and the impact on employees and the community. Personal protective equipment (PPE) (00:09:02) The importance of providing and wearing personal protective equipment (PPE) in the workplace. Compliance with state and federal regulations (00:12:59) Discussion about the requirements for displaying state and federal posters in the workplace and the importance of compliance. Promoting safety culture in the workplace (00:17:22) The importance of promoting a safety culture in the workplace and engaging employees in safety practices. Ear Protection and Noise Concerns (00:17:47) Discussion on proper ear protection and the impact of noise on hearing, including the use of earbuds in a shop environment. Safety Measures for EV Repair (00:22:25) Importance of personal protective equipment (PPE) and safety measures for working on electric vehicles (EVs), including testing gloves and monthly inspection. Monthly Safety Inspections (00:25:55) The necessity of monthly safety inspections for building and equipment, covering various aspects such as exit lights, electrical boxes, and fire extinguishers. Power Strip Safety (00:30:29) Safety precautions related to power strips, including the types of devices that should not be plugged into them and the potential risks involved. Commitment to Safety (00:33:09) Emphasizing the importance of embracing safety in the workplace and promoting a commitment to safety measures. Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Get ready to grow your business with the Automotive Management Network: Find on the Web at http://AftermarketManagementNetwork.com for information that can help you move your business ahead and for the free and informative http://LaborRateTracker.com Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections
Click to go to the Podcast on Remarkable Results Radio
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