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Gas prices came down, what happened?


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So gas prices are down, really down. Why have we not bounced back economically? Well, it's bigger than gas prices at this point. Bailouts, government interventions, and what else?

 

Where do you think this is all going and how will it affect your bussiness?

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So gas prices are down, really down. Why have we not bounced back economically? Well, it's bigger than gas prices at this point. Bailouts, government interventions, and what else?

 

Where do you think this is all going and how will it affect your bussiness?

 

Many are predicting $1 a gallon by spring. However, I doubt that free gas would cause a significant increase in service business right now. The consumer has really been frightened and that fear is not about to subside anytime soon.

 

Yet, cheap gas means one less thing against shops for the time being and should help shops do a bit better overall in the short term. A huge dam of car repair is building...at some point it will leak, if not, break. As shops and dealer close, those remaining will be a better position.

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Now is the time for all independent shops to position themselves as solvent companies in this economic downturn. Those who fight now will reap the benefits down the road. In my opinion, many shops are beginning to see positive signs that there is opportunity out there.

 

I urge all shops to continue there marketing and advertising. It will pay off.

 

During the elections, I believed that the candidate that could offer a clear solution to drive the fuel prices down, would get elected and bounce the economy back. Well...I guess they didn't figure on the mortgage collapse. Too many things happened at the right time, to make the fall of gas prices ineffective.

 

People holding on to their cars, fears of buying a new car, and economic factors...all make for a good scenario in the inidependent automotive industry.

 

Like Joe said...MARKETING! This is the best time to market your business to potential customers.

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  • Have you checked out Joe's Latest Blog?

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      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.
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