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By [email protected]
I'm hoping some experts can help me out. I'm buying an existing full-service shop and need to polish a transition business plan not only for my lender and partners, but also to help give us some focus and direction. I'm certainly not coming into this empty handed, but would love to see what others might have used so I can be as successful as possible. HELP!
I was talking a few months ago to an old-timer who has been building race engines for 50 plus years and he mentioned something about never turning his radio off in the shop. I am wondering if anyone has ever heard the significance or reason behind this? You could bearly hear the radio was on but thought it was interesting.
By [email protected]
I have a 2 bay facility that I rent and one employee plus myself. I was quoted about $2346 per year for both general liability and garage keepers from Liberty Mutual(using CoverWallet as the broker).
- General liability was $1,032 per year if paid in full for $1,000,000 limit and $2,000,000 aggregate
- Garage keepers was $1320 per year if paid in full for $75,000 coverage
Does this sound right? I am in the process of getting other quotes but wanted to see if I am in the right ballpark. This is my first time getting insurance for the business and it seems like some places don't want to insure you unless you have history.
Own or rent:
I'm Ricardo from Complete Auto Reports. You may have heard about the shop management software that we made at a shop in Linden NJ.
We've been really busy over the last year trying to refine the process at a shop through the software. We have come up with something we think that people can and will benefit from. We want to start with smaller auto repair facilities who are looking for something to transition out of paper and pen, as well as word documents and/or excel spreadsheets.
We've taken our software and made a free package that allows the following from any device with a updated and functional browser:
Take appointments from your customers Digital Vehicle Inspections - Included in every service request and sent to each customer if performed Workflow - Pending, Under Process, Awaiting Approval, Approval Completed, Work In Progress, Completed Ratings - Customers can communicate ratings directly to you Messages - You can communicate with customers through the platform Customer App - All service history available, can schedule appointments with the app, transfer vehicle records to new owners Sales Reports 100% mobile - Works on everything from your 5inch iPhone to your desktop.
You can presently upload all of your customer information: name, address, phone numbers, email.
Paid for versions offer parts ordering through PartsTech.com and Employeement modules that track employee time on jobs.
Are there members here who are interested in trying the free platform to see if it's a fit for their business? Anyone interested in the paid for versions, can also get 60 days of free use and discounted rates available from our SEMA promotions.
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By Biff Tannon
I am a mobile mechanic currently with safeco, but my local agent quit using them because their prices went up substantially.
I need some recommendations on learning more about garage keepers insurance. Like basically where to start, how to shop for it, any information would be helpful.
To give you a little background on where I am coming from: My brother and I are taking over the business, our father is 69 and is working his way into retirement. He has done a great job on teaching us how to run a shop, we are both very good service managers, however we have little experience on the business end of things. The reason that I am so interested in insurance is at the end of last year we were dropped by our underwriter, not for too many claims, just because, well I don't really know why. I think it had more to with the insurance company and the direction they were heading. Anyway our insurance guy scrambled to get us insurance at the 11th hour and needless to say we are paying out the nose.
We have 2 locations and do general automotive repair. The kicker is, we also have 2-3 service trucks and do on site tire repair for semi and construction tires. Yes, I know, there is my expensive insurance issue. However we have never paid this much before and I think part of it is who we are dealing with.
With all that being said I am trying to be proactive and learn as much as I can, so that maybe when it is time to renew we can get this expense a little more inline.
Any help and suggestions would be greatly appreciated.
I'm looking at renting a location to open a new shop and the owners are asking me to carry 2 million general aggregate, 1 million per occurence. 100,000 fire damage liability and 5000 medical.
In speaking to a few agent they seem to think it's a bit high.
Can ya'll post what you typically carry on your shop?
I am planning a soft opening in mid to late January and have started looking for insurance quotes. I did not realize how difficult this may end up being. I have only spoken with two offices so far. The first could not cover a new venture(without previous experience) and the other wants all the info of all the employees up front before they can quote(we are hiring one mechanic and do not have that info yet). I understand cost will be higher fora new business but am having a hard time budgeting for this expense. I know there are many factors involved but if anyone that has started in the recent path could shed some light on this topic I would appreciate it. I did search here and did not find alot but online i found quite a few quotes for detail shops that seemed very reasonable(under 200/month). In my business plan I budgeted for $900 for Liability and Garage keepers.
any advice is always appreciated.
By Joe Marconi
The Affordable Care Act (ACA) requirement that large employers (businesses with 50 or more full-time equivalent employees) must offer health insurance to full time employees beginning Jan. 1, 2014, or face a fine, has been delayed one year until Jan. 1, 2015.
Read the entire article: http://www.searchautoparts.com/aftermarket-business/searchautoparts-advanstar/news-distribution/aca-employer-mandate-delayed-until-?cid=95879
What are your reactions? Is this a sign that there is push back from large companies? And what about many unions that now do not support Obama Care? Will this affect us? Your thoughts?