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Hi, new to this site and glad I found it! reading alot on here has help me out, my problem is..... i'm a new garage owner, 3yrs now, started from zero! no customers, no employees and very little equipment, now i've got 4 full time employees plus myself, lots of business, equipment etc., shop makes good money, yet not alot for me :(

but i'm currently almost debit free, only owe snap-on about 5k other than that nothing! i pay cash for everything and dont like debit, but recently i've been thinking about getting a small loan (10k) to do somethings around the shop to improve services and finish some cars I have to put out for sale,

but honestly it scares me to death thinking about a loan, i've had several sleepless nites lately about it! my fear is if we get slow (thank god we are always busy) how will I make my loan payment, payroll etc., I keep $$ in reserve but adding a loan makes me nervous, the loan can help me buy new equipment to better service cars and hopefully get things done quicker so I can work more to make more $$ and I know debit can be ok, I dont think i'll really be able to grow bigger like I want paying for everything out of my pocket, so i'm looking for everyones opinion on taking on a loan and can I really grow without a loan now or in the future. thanks in advance for your input, Rob

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I was recently "forced" to move my business and had to come up with cash really fast. I was actually amazed that I got a SBA loan from the government for a very small amount every month. It was a 10k loan and payment is just over $100 a month. I would look into that.

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  • Have you checked out Joe's Latest Blog?

         5 comments
      I recently spoke with a friend of mine who owns a large general repair shop in the Midwest. His father founded the business in 1975. He was telling me that although he’s busy, he’s also very frustrated. When I probed him more about his frustrations, he said that it’s hard to find qualified technicians. My friend employs four technicians and is looking to hire two more. I then asked him, “How long does a technician last working for you.” He looked puzzled and replied, “I never really thought about that, but I can tell that except for one tech, most technicians don’t last working for me longer than a few years.”
      Judging from personal experience as a shop owner and from what I know about the auto repair industry, I can tell you that other than a few exceptions, the turnover rate for technicians in our industry is too high. This makes me think, do we have a technician shortage or a retention problem? Have we done the best we can over the decades to provide great pay plans, benefits packages, great work environments, and the right culture to ensure that the techs we have stay with us?
      Finding and hiring qualified automotive technicians is not a new phenomenon. This problem has been around for as long as I can remember. While we do need to attract people to our industry and provide the necessary training and mentorship, we also need to focus on retention. Having a revolving door and needing to hire techs every few years or so costs your company money. Big money! And that revolving door may be a sign of an even bigger issue: poor leadership, and poor employee management skills.
      Here’s one more thing to consider, for the most part, technicians don’t leave one job to start a new career, they leave one shop as a technician to become a technician at another shop. The reasons why they leave can be debated, but there is one fact that we cannot deny, people don’t quit the company they work for, they usually leave because of the boss or manager they work for.
      Put yourselves in the shoes of your employees. Do you have a workplace that communicates, “We appreciate you and want you to stay!”
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