By Joe Marconi
October 4 - October 6, 2022
Fly with the Eagles
The Industry’s Most Powerful Shop Management Course
This is a 3-day course, with each day devoted to a new topic, but you have the option to pick and choose the days you’d like to attend.
October 4th-6th, 7:30am – 5:00pm EST
After attending this comprehensive course for shop owners you will be able to
Improve your skills in time management, leadership, and goal setting Fully understand your shop’s financials and key performance indicators Find and hire superstar service advisors and technicians Turn your existing employees into self-motivated superstars Fill your bays with the right kind of customers through new marketing programs Utilize your step-by-step Action Plan to ensure your ongoing success This AMI-accredited course has one objective: to help you create a more profitable, successful business! Bob Cooper built this course from the ground up based on his own success as a shop owner and his experience in helping thousands of other shop owners go right to the top.
This series is now presented by Joe Marconi and Kevin Vaught, who have both experienced extraordinary success as shop owners as well, so it’s no surprise that Fly With the Eagles II is heralded by many industry leaders as the most powerful shop management series available to shop owners and general managers.
To learn more and to register: https://eliteworldwide.com/event/fly-with-the-eagles/
By Joe Marconi
This forum will outline the steps that I took the past three and half years, working toward my exit strategy. I will outline each step, each week, to give you information that I know you will find informative and useful. Please note, these steps are the ones that I took, and your situation may differ. However, you will find so many similarities, that I am sure you will obtain a ton of great information. Ok, here we go...
STEP 1 - Get Your Business Ready to Sell Today
You are never too young to begin thinking about your retirement or sale of your business. Work hard on your business to get it to run on its own. For quality of life, and to grow a sucessful business, requires having the right people, the right systems, a knowledge of the numbers, and a plan. Also, the more you are removed from the day to day operations, the more sucessful you will be and the more your business will be worth to a potential buyer.
Here's another important reason to get your business to run on its own: A health crisis may leave you sidelined for months or longer, or may even leave you disabled to a point where you cannot perform the necessary duties as a shop owner. We all have heard of shop owners that either became seriously ill, were in a bad accident or passed away, leaving the business in a state that it cannot run by itself. Or, not worth much because the shop owner did not take the necessary steps to build the business correctly and not having clean and accurate financials.
Begin today to start thinking about your business and when you want to sell, have family take over the business, or other options. Start getting all your financials in order, set your long-term goals, work on your business plan, review and refine all your systems and procedures, and talk to your family about your long-term plans.
With each step, you may need help from either an accoutant, broker, attorney, or a business coach. Please don't make the mistake of thinking you can everything on your own.
That's it for today- Next week I will discuss The Importance of Having Clean Financials and Showing a Profit
Thank you and Stay Tuned!
By Joe Marconi
Got your attention? Please read on...
In case you were hibernating the last year and half, you had to notice all the increases around you. From food, gas, utilities, taxes, insurance, etc., etc., etc. Not to mention all the training and tool investment we must make from now on, to remain in the business.
I have been preaching this for decades: As an industry we don't charge enough, especially when it comes to labor.
While there are ways to increase labor dollars, for example: becoming more productive, making sure that we charge for complex testing and driveability; Base labor rates have to factor in as the most important KPI in your business.
Do the math, get help from a coach if you need help calculating your labor rate.
A real Down and Dirty calculation: If you have one tech and you pay this tech $35 per hour ($42 loaded), then this tech has to bill $140 of labor for every hour worked. ASSUMING THIS TECH IS 100% PRODUCTTIVE.
DISCLAIMNER: THIS IS A REAL DOWN AND DIRTY QUICK CALCULATION, SEEK ADVICE IF YOU WANT A MORE ACCURATE REQUIRED LABOR RATE.
How To Make Your Business Better and More Productive Than What it is Today? – Bob Greenwood [RR 612]By carmcapriotto
Bob Greenwood, AMAM (Accredited Master Automotive Manager) is President and C.E.O. of Automotive Aftermarket E-Learning Centre Ltd. (AAEC). AAEC is a company focused on providing Business Management Resources and Development for the Independent Sector of the aftermarket industry. AAEC content and technology is recognized as part of the curriculum of the Fixed Operations Diploma and the Aftermarket Degree courses taken at the Automotive Business School of Canada at Georgian College located in Barrie Ontario Canada. This school is the leader and only college in Canada that offers an automotive business education. AAEC is also recognized by the Automotive Management Institute (AMI), located in North Richland Hills, Texas USA, allowing 80 credits for successful completion of the AAEC E-Learning portion of the site towards the 120 credits required to obtain the reputable Accredited Automotive Manager (AAM) designation.
Bob has over 40 years of Business Management experience within the Independent sector of the automotive aftermarket industry in North America, consulting Independent retail shops on all facets of their business operations. His 18 years of running his own local consulting and accounting firm in Ottawa, Ontario Canada created some of the most productive and financially successful entrepreneurs within the Independent sector today.
Bob is one of 150 Worldwide AMI approved instructors. He has created Business Management development courses for aftermarket shop employers/managers, Jobbers and Jobber Sales representatives which are recognized as being the most comprehensive, industry-specific courses of their kind in North America. His courses address the creation of measurable bottom-line profitability and not just developing activity to keep busy, by covering the very detailed nuts and bolts issues that are required to be clearly understood by every level of the industry if an independent shop is going to financially prosper and enjoy a professional future. Bob’s previous episodes are HERE.
Link to Automotive Aftermarket E-Learning Centre Ltd. (AAEC) HERE.
[email protected] - email for the full list1-800-267-5497 to discuss any questions Classic Episodes
Episode 571- Bob Greenwood with Chris Cloutier: Industry terminology, time to change it Episode 387- Bob Greenwood Eric Ziegler Key Talking Points:
We need to better understand our target clients. Who are they? Why do they buy? What do they really want? What is our internal gameplan as a company to build a long-lasting trustworthy relationship?
Building client base business vs customer base business- clients have relationships and trust with the business. Building relationships takes time, you can’t do it while understaffed. One service advisor for every 2 licensed technicians. Educating the client takes full conversations- manage their vehicle based on how they use it and expectations of vehicle.
There's a need to improve focus and productivity, we need to create a culture of commitment and accountability and we must deal more effectively with non-performance. Do we believe in accountability as an important part of the business culture?
Business culture- what do you stand for? Team concept in business that everyone wants to be a part of, everyone's opinion counts including feedback. Employees are working on their career instead of working their ‘job’ because they want to be a part of the business. Committed and accountable to each other.
Accountable- what are we doing on behalf of the clients and how do we measure that? Measure it in billed hours per repair order. Are we producing the right billed hours as a team daily, weekly monthly?
We need more clarity and consistency from the top- is management fully accountable to the business?
Leader of the discussion for team- clarity, and consistency in message, explain it properly, have a discussion on how you see it and how the team sees it. Daily discussion 5-8 minutes keeps the team engaged
We need to create true two-way communication throughout our organization
Owners often use generalities instead of specifics when engaging with the team. Don’t be afraid of discussing numbers- only confidential numbers are on your balance sheet. Let your team understand how income works and how they each affect it. Educate your team on the business in every aspect
Ask about your employees- mutual respect and care about their life outside of the business
Our industry is changing quickly- redefine and reinvent some aspects of the business. Are there specific courses we must take to clarify our industry and business knowledge?
Education is everything- technical, business, front counter, etc. Has to be ongoing. Technician minimum 100 hours a year of training, management 6-8 days a year of training. You need to plan out courses/training for the year ahead of time.
Thanks to Bob Greenwood for his contribution to the aftermarket’s premier podcast. Link to the ‘BOOKS‘ page highlighting all books discussed in the podcast library HERE. Leaders are readers. Find every podcast episode HERE. Every episode segmented by Series HERE. Key Word Search HERE. Be socially involved and in touch with the show:
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This episode is brought to you by AAPEX, the Automotive Aftermarket Products Expo. AAPEX represents the $740 billion global automotive aftermarket industry and has everything you need to stay ahead of the curve. The Virtual AAPEX Experience 2020 is in the record books. Virtual AAPEX lived up to presenting leading-technical and business management training from some of the industry’s best and brightest. Now set your sights on the homecoming in Las Vegas in 2021. Mark your calendar now … November 2-4, 2021, AAPEX // Now more than ever.
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