By Elite Worldwide Inc.
With business slowing down for most, we feel that there's never been a better time for shops to take advantage of online training. We know that everyone in our great industry is in this together, and want to help shop owners in any and every way that we can, so have decided to team up with Jasper Engines & Transmissions to make our Online High Impact Customer Care Sales Course available to the industry at no charge.
The recordings for this 4-part online sales training course are usually sold for $179, but the below link will provide you with complimentary access. You'll see that the page also provides access to an Action Plan that you can follow to help you navigate through the coronavirus pandemic.
As you take on this challenge, please don't forget that you're not alone, and that this pandemic will pass. If there's anything else that Elite may be able to do to help you, please feel free to Contact Us, or give us a call at 800-204-3548.
Click Here for complimentary access to our Online High Impact Course and COVID-19 Shop Owner Action Plan
Wishing you the best,
Your Friends at Elite
By Mark Johnson
The Accountable Plan is one of our most successful strategies and gives up to $10K in tax savings per year.
An Accountable Plan allows employees and in your case, owner-employees to be reimbursed for business expenses paid out of pocket.
The expenses become deductions to the business and the employee or employee-owner can be reimbursed creating non-taxable cash flow to them.
In order for the plan to be a “Qualified Accountable Plan” it must have the following connection points:
· Business Connection
· Substantiation (Expense Reports - with receipts)
· No Excess Payments
· Timeliness (30 - Day Rule)
If not disbursed under an accountable plan, the payments could be considered additional wages by the IRS. For this reason, you need an accountant familiar with the accountable plan for the initial setup.
Examples of expenses that qualify are mileage, auto, home office, travel, meals & entertainment expenses.
Learn more about this and other LEGAL tax saving strategies by contacting us at 1954-324-0803 or booking an appointment at https://calendly.com/markjohnsontaxplanner/45min.
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By Joe Marconi
After 39 years in business, it's time to get serious about my exit plan. While I don't think I will ever truly retire, I do think it's time to plan the next chapter in my life. I would like to hear from shop owners out there in the same situation. What are your plans? Are you selling your repair shop? Do you have a succession plan? And are you thinking about a different line of work to keep you busy?
By Joe Marconi
The days of cars breaking down and lining up in front of your bays on a daily basis are long gone. Today, we need to be proactive. Now I know many of you are having a great summer in terms of sales, but don't rely on this to keep you going the rest of the year.
Here's a tip to keep in mind: Every car in your shop today will need a future service and/or repair in the future. The question is, "Will the customer go back to you?"
Here's what you do: Make it a practice that you inform all customers in for service today of their next service and/or any future repair they may need. Let them know you will add their vehicle to your calendar and send them a card/email as a reminder. But here's the deal-sealer. Let them know you will call them also when the vehicle is due.
Afraid that customers might see this as too pushy? Don't be. If done properly and if you convey that what you are recommending is in their best interest, they will listen.
Will every customer return? No. But how many will if you leave it to chance?