Quantcast
Jump to content


Recommended Posts

Plan Now for 2014

 

With one more quarter to go in 2013, this is the perfect time of the year to start your review of the 2013 and start making plans for 2014. Speak with your accountant to get a projection of how 2013 will impact your tax situation and other important business considerations. Don’t wait to the start of 2014 to access your 2013 tax liabilities. By then it’s too late.

 

You should also do a review of all your expenses, deductions and current budget. Start now making adjustments to your budget and calculating your breakeven. And remember, breakeven is not just the number you hit to pay your bills. Your breakeven must also include return on investment, paying backing any loans, putting away money for future, planning for unexpected, and reinvesting in your business.

 

Share this post


Link to post
Share on other sites


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

  • Similar Forum Topics

    • Listen to an accountant, not the tool truck rep for Tax savings

      At the end of each year, it's typical of tool reps and salespeople to give you tax advise. Often they will tell you that buying tools and equipment can be used as a way to lower income taxes. While this may be true, no one has a better handle on your financial situation that a good tax accountant.  Listen to the expert, not the tool truck rep.  Spending money to save on taxes also reduces your cash flow.  I am not an accountant, but sometimes its better to pay a little extra in taxes and maintain a cash reserve.  Your thoughts?  

      By Joe Marconi, in Accounting, Profitability, & Payroll

        
      • 1 reply
      • 111 views
    • Making 2019 Your Best Year Ever

      December spells the end of 2018, and hopefully you're wrapping up what was a fantastic year for your auto repair shop and business. Now… it’s time to start thinking about how to make 2019 an EVEN BETTER year. (Heck, let’s go ahead and plan on making it your best year ever! Right?) By attending for this special Live Online Webinar, you're going to get the proven 4-step process that will practically GUARANTEE 2019 to be a blow-out success for you. With these four steps, you’ll be able to… 👉 ==> DOUBLE your take-home pay (Yes, that’s not a misprint. I’ll show you how.)
      👉 ==> Magnetically attract more (and even better!) customers to your shop
      👉 ==>  Easily sell your services at higher prices than your competitors
      👉 ==>  Find, hire, and keep that elusive tech you’ve been searching for
      👉 ==>  Put the fun back into running your shop! If you're interested... there is absolutely ZERO cost to attend this training. All you'll need is 45 minutes of your day set aside in order to watch this webinar live. For the dates, times, and registration details,  CLICK HERE

      By Ron Ipach, in Shop Management Coaching, Business Training, Consulting

        
      • 0 replies
      • 52 views
    • What tools have made a positive impact in your shop?

      Hi there!

      My name is Kiley and I write for "The Return" in Ratchet+Wrench magazine. (For those unfamiliar, 'The Return' is more of a personalized review that gives readers the chance to learn about how a product works inside a shop that uses it as well as the shop's review of the product.) 

      My question to you all today is this: what tool has made an impact in your shop? If someone was looking for a product to add to their shop, what would you recommend?  (This can range from shop floor tools, security systems, management systems, payroll, etc.)  Thank you so much and have a great day! 

      By ratchetandwrench, in Automotive Shop Tools & Equipment

      • 4 replies
      • 503 views
    • Article: Building a Marketing Plan Around Your Customers

      Roughly a month ago, I went to lunch with a good friend of mine. He works for the YMCA, so we discussed what the YMCA does to attract new members. A few years ago, my friend and his team realized that while they were good at attracting new members each year, they had little to no retention. It was a constant battle to bring in new members to fill the void of lost members. The YMCA realized that it’s easier and less expensive to keep existing members, than to go out and find new ones. They created a new marketing strategy with a focus on keeping existing members. The plan was simple: create an amazing experience for their members and offer new programs to these existing members. The plan worked. Member retention improved. What worked for the YMCA will also work for your business. Before you spend a dime on advertising, you need to understand one crucial component of your business; the customer experience. Without a great customer experience that gives your existing customers a compelling reason to return, you’re simply wasting your money on advertising. Advertising is often aimed at new-customer acquisition. There is nothing wrong with this. Every business loses clientele each year for a number of reasons, and we need to get our name out to our community about who we are and what we do in order to attract new consumers. But, to rely on new customer acquisition alone without a plan to keep existing customers is not a strategy for long-term, sustained growth. Every marketing plan starts with looking at your entire operation and how it relates to the customer experience. Are you doing all you can to create an amazing experience that builds solid relationships? If not, you will be in the same position the YMCA was: using advertising to fill the void of lost customers. While there are many aspects of the customer experience, let’s focus today on the four essential areas: The customer write-up, the sales process, the car delivery and the follow-up. Each of these touch points must be executed with one thing in mind: create an experience so amazing that the customer will have a compelling reason to return your shop again. Customer write-up starts the process. It’s where you begin the relationship or continue to preserve it. It must be performed as if you are welcoming a guest into your home. The sales process must communicate value and benefits to the customer. This gives the customer peace of mind, reduces anxiety and buyer’s remorse. The car delivery is your chance to leave a lasting positive impression of you and your company. It should not be a transaction, but instead the opportunity to resell the job, you and your company. The car delivery should not be rushed. Take the time to review the invoice, ask the customer if they have any questions. Let every customer know how important they are and how much you value his or her confidence and trust in you and your company. The follow-up continues the customer experience. This is where you reach out to the customer with a phone call, email, or thank-you card. It helps with customer retention by making another positive impression in the mind of the customer. Getting back to car delivery: Make sure you review all future service recommendations and let the customer know that they will receive a service reminder. But don’t rely on a postcard or email alone to bring back customers. Think about this: If you had a bad experience at a restaurant, no offer or ad is going to get you back there—only an amazing experience will. The same holds true for your business. By the way, an amazing customer experience is created by the people in your company. Sure, you need to have a clean, well kept facility with nice amenities. But it’s the people in your company that make the difference. Billion dollar stadiums don’t win championships—it’s the quality of the players on the field that win championships. Everyone in your company is part of your marketing plan. A simple smile and hello from a technician when a customer walks past the bays can do more for your business than any ad can. Let me leave you with this thought: Customers will not remember the mass airflow sensor you installed or the exhaust leak you repaired. But they will remember their experience. A positive experience is lasting in the mind of the consumer. It’s the most powerful marketing tool you have—and it’s virtually free.   This story was originally published by Joe Marconi in Ratchet+Wrench on September 1st, 2018
      View full article

      By Joe Marconi, in AutoShopOwner Articles

        
      • 0 replies
      • 91 views
    • New shop start up.

      Hello all, I stumbled across this forum while doing some research on starting a shop. I had some questions to assist in guiding me in the right direction. For starts, what is the general thought on being some what specialized? I’m master certified with Kia and Hyundai as well as hybrid certified. So I was wanting to try and stay toward those three as my main focus. Or has this been proven to not be a solid business model? Also for my shop, we are going to be building it from scratch, so was curious about some input. We are wanting to start with three bays. What would be the minimum building size? We were thinking a 30x60. Which would give us an office/waiting rooms and a little storage. Or would this be to small?   On another note, if anyone on here is in the Charlotte-greensboro area that would like to grab some coffee, I would love to pick you brain for a bit.       Sent from my iPhone using Tapatalk

      By statrepair, in New Member's Area

      • 9 replies
      • 625 views
  • AutoShopOwner Sponsors



×