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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
The Weekly Blitz is brought to you by our friends over at Shop Marketing Pros. If you want to take your shop to the next level, you need great marketing. Shop Marketing Pros does top-tier marketing for top-tier shops.
Click here to learn more about Top Tier Marketing by Shop Marketing Pros and schedule a demo: https://shopmarketingpros.com/chris/
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If you would like to join their private facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermind
SHOW NOTES
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Phone: 940.400.1008
www.autoshopcoaching.com
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AutoFixAutoShopCo
Connect with Chris: chris autofixsos.com Phone: 940.400.1008 www.autoshopcoaching.com Facebook: https://www.facebook.com/ AutoFixAutoShopCoachingYoutube: https://bit.ly/3ClX0ae
www.autoshopcoaching.com
Facebook: https://www.facebook.com/ AutoFixAutoShopCoaching
Youtube: https://bit.ly/3ClX0ae
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Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion
Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.
The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.
The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.
Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.
Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.
To listen to more episodes, make sure and go over to iTunes and or Spotify.
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Click to go to the Podcast on Remarkable Results Radio
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By nptrb
It’s no secret that time is limited as an auto repair shop owner.
Between diagnosing complex engine issues to managing your mechanics and creating a five-star customer experience, there’s often little time left to focus on your financials.
But what happens when tax season rolls around, and you’re forced to buckle down on organizing your records and preparing your returns?
At Three Rivers Bookkeeping, we know the needs of your auto repair business from the inside out. You’re dealing with parts inventory, labor costs, shop equipment, and fluctuating busyness. Navigating the intricacies of tax filing on top of all that can be a real headache.
That’s why we’ve put together these practical tax tips to help you simplify the filing process! Follow these steps to get your financial house in order before the tax deadline on April 15th!
Tax Tip #1: Organized Record-Keeping (From Day One!)
This might sound obvious, but organized records are the foundation of stress-free tax filing.
Don’t wait until January to start sifting through a shoebox full of receipts. And if you’re reading this in April, remember to start getting organized now for next year!
Implement a consistent system for tracking all your income and expenses throughout the year.
Here’s a framework to follow to keep your records organized in your auto repair shop.
Separate Business and Personal Finances: This is crucial. Keep your business bank accounts and credit cards strictly for business transactions. This makes it significantly easier to track income and deductible expenses.
Categorize Everything: Establish clear categories for your income (e.g., labor, parts sales, diagnostics) and expenses (e.g., parts purchases, payroll, rent, utilities, insurance, marketing, shop supplies). Use accounting software or even well-organized spreadsheets to do this consistently.
Document Everything: Your records should be kept to the same standards as your shop schedule and organized and clear! Track your invoices, parts receipts, bank statements, credit card statements, and payroll records — no matter how small the cost! Every bit matters.
Track Mileage: If you or your employees use personal vehicles for business purposes (e.g., picking up parts, making service calls), keep a detailed mileage log. This should include the date, purpose of the trip, starting and ending mileage.
Organized records make it easier to identify deductible expenses, accurately calculate your income, and prepare your tax forms. This will save you tons of time and effort during filing season.
Tax Tip #2: Don’t Be Afraid to Leverage Technology
Technology is your best friend when it comes to efficiently managing the finances in your auto repair business. If you’re still relying on manual spreadsheets and a spare notebook, it’s time to swap them out for accounting software that is designed specifically for small businesses.
We recommend QuickBooks Online because it streamlines all of the important areas in business, including:
Your financial tracking process Automated reports Invoicing Payments Payroll You can even connect it to your bank accounts and credit cards to make importing transactions and categorization a hands-free task.
Tax Tip #3: Know Your Deductions
Your deductions can make or break you during tax season, which is why it’s critical for you to understand them! As an auto repair shop, your needs are very different from other service-based businesses.
Knowing what you can deduct is key to minimizing your tax liability.
Here is a checklist of common deductions specifically for the auto repair industry:
Cost of Goods Sold (COGS) Labor Costs Rent and Utilities Insurance Vehicle and Equipment Expenses Shop and Office Supplies Marketing and Advertising Professional Fees
Tax Tip #4: Plan Ahead and Don’t Wait Until the Last Minute
If you find yourself frantically scrambling at tax season, planning ahead WILL help! Make tax season simple by staying organized, having financial systems in place, and relying on automated software.
Navigating your bookkeeping and tax filing on your own can be time-consuming and lead to costly errors.
If you want to leave your tax filing to the professionals, we’d love to help!
Three Rivers Bookkeeping specializes in working with auto repair shops, so you can rest assured during tax season.
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