Quantcast
Jump to content

Recommended Posts

Posted

Hi guys, I just recently joined the forum however I have been on the site a few times over the last few months. Looks like a GREAT place with a lot of awesome information.

 

 

A little background history on my shop and I. My partner and I started the business in our early twenties from my backyard working on BMWs and over the years grew it into a full service shop servicing BMW/Mercedes/Audi/Mini with an emphasis on the BMW side. I came into this business not knowing anything about the business side and pretty much made "shot in the dark" decisions on everything pertaining to this business. We struggled terribly for the first 3-4 years and got into a bit of debt running the business until I discovered service advisor and auto shop management classes which helped tremendously. We most recently moved into a larger location partially due to necessity. Our previous location where we were at for close to 5 years was terrible small and run down however had a very nice curb appeal location (approx 1000 sqft of shop space, additional 1500 sqft lot and about 300 sqft office). Due to some property issues that the landlord was dealing with I was forced to find a new location for my business. I was lucky enough to find a very nice building to rent at a very reasonable price for the sqft (overall 5,000 sqft shop with additional 1000 sqft front lot). The only draw back it is not the easiest location to find and the curb appeal is not as good as my last shop. Since being in the new shop we completely renovated 80% of the building with epoxy floors, new lights, customer lounge/waiting area, office, bathroom etc. We are also have on order our first alignment system/rack and tire equipment which was a service we didn't offer previously. We have a loyal customer base and the response has been great. I am hoping with providing more services, we can capture a bit more of the auto repair market in our area.

 

Our main problem is however with the added space/overhead I am struggling to find good methods and drawing in new customers. I have been staying on top of our customer retention and feel that I have a decent footing on that end. I recently sent out a direct mailer through mudlick mail which has been a disappointment for me thus far.

 

In any case, although sometimes the stress of the business has been intense, the last week or so browsing the forum has given me some perspective on my own situation after reading other shops stories/posts/problems/solutions. I am hoping my ship turns around soon, I guess I have to be a little patient and keep being proactive on the business end of things.



Posted

It takes a lot to be in business today, and your story is similar to so many. Most of us started out the way you did, with great technical skills. I opened my business in 1980 and struggled financially for 10 years until I woke up to the fact that technical skills will never replace business skills. I was busy back then, very busy, but made little to no money.

 

In the 1990's I started to learn about business, customer service, learned about tracking key numbers, started an advertising/marketing programs and forced myself to be a business man, not just a man in business.

 

Most of us are very successful mechanically, but fail financially. Where ever your focus is, is where you will succeed in. The best advice I can give you is to work hard in the areas of business. Learn all you can about the numbers of the business, leadership, marketing and advertising. Pay close attention to your customers, especially your profile customer. AND, know your breakeven, and when you are making money. Set goals to become profitable and never view profit as a dirty word. Lastly, do not be everything to everyone but take care of your key customers as family.

 

Best of luck!

Posted

It takes a lot to be in business today, and your story is similar to so many. Most of us started out the way you did, with great technical skills. I opened my business in 1980 and struggled financially for 10 years until I woke up to the fact that technical skills will never replace business skills. I was busy back then, very busy, but made little to no money.

 

In the 1990's I started to learn about business, customer service, learned about tracking key numbers, started an advertising/marketing programs and forced myself to be a business man, not just a man in business.

 

Most of us are very successful mechanically, but fail financially. Where ever your focus is, is where you will succeed in. The best advice I can give you is to work hard in the areas of business. Learn all you can about the numbers of the business, leadership, marketing and advertising. Pay close attention to your customers, especially your profile customer. AND, know your breakeven, and when you are making money. Set goals to become profitable and never view profit as a dirty word. Lastly, do not be everything to everyone but take care of your key customers as family.

 

Best of luck!

 

 

Thanks Joe! There has been a dramatic difference in the way I approach the business starting when I got some training however I know I have a LONG way to go.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Available Subscriptions

  • Have you checked out Joe's Latest Blog?

         0 comments
      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.
  • Similar Topics

    • By Changing The Industry
      Episode 212 - The Role of Technology in Modernizing Auto Shops with Monique from Shop-Ware
    • 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/
      Check out their podcast here: https://autorepairmarketing.captivate.fm/
      If you would like to join their private facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermind
      SHOW NOTES
      Connect with Chris: chris autofixsos.com
       Phone: 940.400.1008
       www.autoshopcoaching.com
       Facebook: https://www.facebook.com/ 
      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
      The Aftermarket Radio Network
      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.
      Don't forget to rate and review us!
      Connect with Chris:
      AutoFix-Auto Shop Coaching
      www.autoshopcoaching.com
      www.aftermarketradionetwork.com
      #autofixautoshopcoaching #autofixbeautofixing #autoshopprofits #autoshopprofit #autoshopprofitsfirst #autoshopleadership #autoshopmanagement #autorepairshopcoaching #autorepairshopconsulting #autorepairshoptraining #autorepairshop #autorepair #serviceadvisor #serviceadvisorefficiency #autorepairshopmarketing #theweeklyblitz #autofix #shopmarketingpros #autofixautoshopcoachingbook
      Click to go to the Podcast on Remarkable Results Radio
    • By Changing The Industry
      Episode 211 - Trust, Ownership, and Ethical Sales with Kim and Brian Walker of Shop Marketing Pros
    • 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. 
    • By Changing The Industry
      Bonus Episode - The Mechanics Behind Developing Great Software With the Team from Shop-Ware


  • Our Sponsors

×
×
  • Create New...