A bit of a clickbait title, but not inaccurate. The shop is doing amazing, and I haven't been here but a few hours here and there since last June. Prior to that I had been the shuttle driver and not much else. I sold the shop to my manager, something that has been in the works for over 3 years. Spending the next couple days at the shop getting a few things settled (vendor accounts, recurring payments, etc) before the final handover on Saturday. I'm retired now at 55, and I won't have to work another day. My wife and I are moving onto our boat and we're going to sail around the world a few times.
The moral of the story is that you CAN get there. You don't have to be particularly bright, I'm certainly not. You don't even have to be an amazing manager. There are thousands of shop owners who are better managers than I am.
You do have to work hard. Way harder than the average guy, and a lot of guys work pretty hard.
You do have to be smart about your business. Don't spend money you don't have yet. Cash in the bank fixes a world of sins, make sure you have plenty.
You do have to take calculated risks. Business ownership is not for the meek. You'll have to take risks that the average guy would never dream of. Be fearless, but DO THE MATH before you jump.
You do have to fully understand your financials. If you can't read a P&L and be able to see there's a problem that needs further investigation, you better learn how. Same with your KPI's.
You do have to do great marketing, and lots of it. There are guys out there who claim they don't need to do any marketing and are swamped. Maybe there are, but I'm not one of them. Odds are you aren't either. Get busy marketing.
And you do have to get good business coaching and listen to what they say. You could be stupid like me and wait 12 years before you finally get a business coach and start making money, but why would you want to do that? Get one now. If they don't pay for themselves many times over, odds are you didn't do the work to go with the advice.
By Mark Johnson
Do you ever worry that if the credit card you’re using to make business purchases isn’t in your business name that you won’t be allowed to take the deductions?
The good news is, that’s not the case—even if you have a separate entity!
This doesn’t mean you should mix personal and business expenses.
When you take a personal credit card and use it entirely for business expenses, you are essentially contributing this debt to your business.
You can use the card the same as if it was in the company’s name and deduct every business expense you purchase on it.
This can be a great strategy, just like with auto loans, when the company is new because it’s harder for new companies to get lines of credit without an established credit history.
So if you’ve got a personal credit card available for business expenses, feel free to use that card and benefit from all of the rewards!
To learn more please call 1954-324-0803 or book an appointment at https://calendly.com/markjohnsontaxplanner/45min
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By Joe Marconi
Usually the winter drops off in sales, but along with car counts. This year is different. Customers seem consumed with debt and worried about thier finances, and putting off needed vehicle maintenance. Not good. In the long run this leads to breakdowns and larger repair bills.
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.
Our 3 plans can be broken down into these simple differences: Free: No inventory, no online parts ordering through PartsTech, only one photo/video per service request, one login, no employee management $50 per month (also have yearly options to save $): Includes online parts ordering through PartsTech and includes inventory, one login, no employee management $100 per month (also have yearly options to save $): includes everything with 5 logins to access the system. We often get asked, "What use can a bigger shop possibly get from the free plan?"
With the free plan, you can take appointments digitally from your customers and then upload a copy of their receipt from your existing system to their profile in CAR. Reducing paper waste and creating a digital record for your customer to always have. You can also use the free plan to send your customers a video or photo of the services you are performing, complete with billing the customer through the free plan at the end of the service. These are all features that you pay for with add on systems, they are all available for free with us as you learn to adapt to smarter, more efficient technology.
The data you enter is yours, we do not have any agreements presently to share it with anyone and we certainly will never be sharing any personally identifying information with anyone. Majority of the data we are interested in is to build better features to serve you better.
Should you ever decide you no longer want to use our platform, your account will be available to you for free for one year at minimum. In addition to that, we can and will provide you a complete data dump of all of your records within 72 hours of the request. These companies that make it impossible to recover YOUR data is the reason for our open policy. We want everyone to change their practices and we're leading by example.
If you decide to cancel your subscription for any reason, all of your data can and will be exported and delivered to you via a USB stick you provide or through email in the way of an Excel file(s). Additionally, you can access ALL OF YOUR information on our server for one year without any interference from anyone at CAR. Most of you may not know, but I actually own a shop and if it's one thing I can not stand behind, it's these companies getting access to all of our information for secretive reasons or keeping us from having the very data that belongs to us in the first place. You will never encounter this experience with us.
Who likes tax deductible food? 🙋♂🙋♂ If you want to make sure you are deducting all of your business meals. Please read the entire article.