Quantcast
Jump to content
    • You can post now and register later. Already registered? sign in now to post with your account.
    • ×   Pasted as rich text.   Paste as plain text instead

        Only 75 emoji are allowed.

      ×   Your link has been automatically embedded.   Display as a link instead

      ×   Your previous content has been restored.   Clear editor

      ×   You cannot paste images directly. Upload or insert images from URL.


      Once you submit your question, a new topic will be created for you in our forums. Our moderators may move your topic to a more suitable forum category if one exists. Members will see your topic and be able to respond to your question.

    • This will not be shown to other users.
Sign in to follow this  
Joe Marconi

Article: New Report Brings Opportunity for Growth, Are You Up to The Challenge To Move Your Business Forward?

Recommended Posts

A recent report from Lang Marketing Resources Inc. reported that in spite of the economic climate, service stations, independent garages, repair specialists and foreign car specialists are generating about 2.6 billion more in service revenue in the U.S. car and light truck aftermarket this year vs. 2010. This revenue increase is coming primarily from the Do It For Me (DIFM) sector. In striking contrast, the same report projects that new car dealerships will lose more than $750 million in service market products. Service stations and independent garages now account for 29 percent of the total aftermarket DIFM market.

 

What does this mean for the average shop owner today? It spells out: opportunity. This is your opportunity to continue to grow your business and be part of the growing DIFM market; a market that has chosen the independent auto service provider as their preferred choice.

 

One important factor; the strength of the independent aftermarket it is not about price. National chains across this nation that have built their business model based on discounting and low price do not capture the hearts of the average consumer. Independent garages are typically priced higher on most basic services and repairs, but have far less issue with price. The average independent garage has proven that although price is always a concern with consumers, the actual determining factor in choosing a service facility is the relationships the shop has formed with its customers.

 

Every shop owner today needs to ask, “Am I up ready for this opportunity and will I put together a plan of continuous growth”? The plain truth is that if your business is not growing it’s falling behind. The level of success you achieve for your company is directly determined by how you plan for the future.

 

I want to make one thing clear; success is not measured against the success of others. Your personal success depends on your ability, the abilities of those who work with you, your determination and the steps you take each and every day to do better today than you did yesterday. You can build an empire, but that empire will be your empire. Too often people base success on the fortunes of people as Donald Trump or Bill Gates. What they achieved as no bearing on your personal success. That’s not to say there aren’t people reading this that have the greatness to become a Bill Gates. It just means that each of must work hard to achieve the best we can be and never settle for mediocrity.

 

Never settle for being average. Anyone can be average. Striving to be average can become a curse that breeds complacency. Once complacency sets in, your business is doomed.

 

Work hard to become your personal best. And don’t forget about the people who work with you in your company. Part of your job as shop owner and the leader of you company is to recognize the strengths of the people who work in your company and find ways to make them better. This concept will help insure your success.

 

Growing your business requires taking the time to create a plan, determine what your goals are and outline the steps you need to take to achieve these goals. It also takes vision; the vision to see your company in two years, in five years and in fifty years. Most of all, your plan must be written down. The great Sun Tzu, author of “The Art of War”, preached that to be successful requires a well thought out written plan. If the plan is only in your head, it is nothing but a dream.

 

Growing your business is a journey, not a destination. Growth stops the day you put the key in front door for the last time. Make that last day your choice, not someone else’s. The decision is yours; if your business is not growing, it’s simply dying.

 

Click here to view the article

Share this post


Link to post
Share on other sites
Sign in to follow this  

  • Similar Topics

    • By Elite Worldwide Inc.
      This is your last chance to enroll your service advisors in Elite's Masters Service Advisor Training Program starting September 10-12! 
      To ensure that we're able to comply with social distancing and keep your advisors safe, this is a rare opportunity for your advisors to receive this industry leading sales training entirely online! 
      Your advisors will not only receive 100% of the training that we offer at the live 3-day course, but you'll be able to save on travel and hotel expenses, and your advisors won't have to spend any extra time out of the shop due to travel. Most importantly, after the initial 3 days of online training, your service advisors will still get the identical 6 months of sales coaching from Ratchet & Wrench All-Star Award winner Jen Monclus, which has been proven to increase sales by an AVERAGE of $10,750 per month after the training!
      This is your last chance to enroll, so give us a call at 800-204-3548 to take advantage of this rare opportunity. For more info, feel free to visit our Masters Program web page. 
    • By Elite Worldwide Inc.
      Special Announcement
       
      Elite's September 10-12 Masters Service Advisor Training Program Will Be Presented Entirely Online!  
       
      Only a Few Seats Left!
       
      To ensure that we're able to comply with social distancing and keep your advisors safe, our Masters Service Advisor Training Program starting September 10-12 will be presented entirely online! 
       
      Your advisors will not only receive 100% of the training that we offer at the live 3-day course, but you'll be able to save on travel and hotel expenses, and your advisors won't have to spend any extra time out of the shop due to travel. Most importantly, after the initial 3 days of online training, your service advisors will still get the identical 6 months of sales coaching from Ratchet & Wrench All-Star Award winner Jen Monclus, which has been proven to increase sales by an AVERAGE of $10,750 per month after the training!
       
      There are only a few seats left, so to reserve your advisor's spot, just give us a call at 800-204-3548. For more info, feel free to visit our Masters Program web page. 
    • By Joe Marconi
      Due to COVID-19, many repair shops experienced a severe economic downturn, some with a drop in sales over 50%.  Without a strong cash reserve and/or SBA funding help, many shops would have gone under. 
      My 40 years as a shop owner has taught me to always have a cash reserve.  However, never would I have ever imagined a downturn like the one with COVID-19.
      So, how do we plan for the next financial crisis.  And, it will happen. Perhaps not as bad as the the virus crisis, but it will happen.
      Here are a few things to consider: Have a separate, and hard to access, cash reserve bank account that has least two months of expenses. Also, secure a line of credit for at least one to two months of expenses.  Also, know your numbers, keep payroll in line, and make sure your prices are fair to you too, not just your customers.  Keep in good standing with all your vendors and keep your credit score high! 
      The bottom line here, is truly the bottom line.  To weather the next financial downturn, you need a strong balance sheet and net profit to the bottom line.
      What other strategies are you considering or implementing? 
    • By Elite Worldwide Inc.
      We're excited to announce the arrival of Sales Master University, Elite's online service advisor training service that delivers higher sales and happier customers to your shop!  
      What is it? 
      Every month your service advisors will have access to the industry's top sales training delivered by Ratchet & Wrench All-Star Award Winner, Jen Monclus. Plus they'll learn from superstar shop owners and service advisors to help them with real world application, and will benefit from assignments, testing, resources and more.   Your advisors can start learning the moment you enroll them, and can complete each lesson at the pace they choose from the place they choose for only $49 per advisor per month!   Enroll your advisors in SalesMasterUniversity.com today and get ready for amazing results. 
      BONUS: Enroll before July 31st and become a Charter Member and receive Mastering Sales Objections and Phone Procedures for the Automotive Professional, FOR FREE! 
      Visit SalesMasterUniversity.com to get your advisors on the path to higher sales and happier customers today!
    • By Joe Marconi
      As a result of COVID-19, we are seeing more and more businesses install plastic shields at their service and receptionist counters and desks.  What are your thoughts. Will you install the shield, have done it or is it a no?



  • AutoShopOwner Sponsors

×
×
  • Create New...