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By Joe Marconi in Joe's BlogMost shop owners would agree that the independent auto repair industry has been too cheap for too long regarding its pricing and labor rates. However, can we keep raising our labor rates and prices until we achieve the profit we desire and need? Is it that simple?
The first step in achieving your required gross and net profit is understanding your numbers and establishing the correct labor and part margins. The next step is to find your business's inefficiencies that impact high production levels.
Here are a few things to consider. First, do you have the workflow processes in place that is conducive to high production? What about your shop layout? Do you have all the right tools and equipment? Do you have a continuous training program in place? Are technicians waiting to use a particular scanner or waiting to access information from the shop's workstation computer?
And lastly, are all the estimates written correctly? Is the labor correct for each job? Are you allowing extra time for rust, older vehicles, labor jobs with no parts included, and the fact that many published labor times are wrong? Let's not forget that perhaps the most significant labor loss is not charging enough labor time for testing, electrical work, and other complicated repairs.
Once you have determined the correct labor rate and pricing, review your entire operation. Then, tighten up on all those labor leaks and inefficiencies. Improving production and paying close attention to the labor on each job will add much-needed dollars to your bottom line.
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By carmcapriotto
Recorded Live at the 2023 Institute Summit, Tim Chakarian and Johanna Reichert explain why you should 'stop stopping' and the biggest change and growth in your business comes from within.
Tim Chakarian and Johanna Reichert, Bimmer PhD Motorsports, Pasadena, CA
Show Notes
The transformation was not changing the world but changing who I was and how I looked at things Service advisors should have a human connection with each customer Look around at the processes that make the magic happen The questions are the most powerful part- “What would you do if I wasn’t here” Don’t be the answer man, find the solution- teach the change of thinking so your team can come up with the solution and own it. Tracking how many customers to know how much you have grown The number 1 job of a leader is to replace yourself with someone better Fix the owner. Fix the shop Stop stopping - the moment you stop, the current will push you back. It’s easier to keep going than stop and restart. Make more time to visit shops and see how they're doing Leadership in associations- it's not just who you are in that position, but how did the person before you influence you? and how will you influence the next person? Don't break that progress, keep that progress going
Thanks to our Partner, NAPA AUTO CARE Learn more about NAPA AUTO CARE and the benefits of being part of the NAPA family by visiting www.NAPAAutoCare.com Connect with the Podcast: Aftermarket Radio Network Subscribe on YouTube Visit us on the Web Follow on Facebook Become an Insider Buy me a coffee Important Books
Click to go to the Podcast on Remarkable Results Radio
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By Joe Marconi
When I was in business, each year for 41 years, we experienced a slow down in February. The reasons are many, but by the second week of March, things went back to normal.
However, from what I am hearing from some shop owners, they are concerned. They point to riding this wave of business since coming out of COVID, and fear that the wave may become a trickle.
What is your opinion? Good times are still here? Should we be concerned?
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By Martin.AG
I'm Martin, founder of Auto Globes, a startup mag connecting auto enthusiasts with experts like you! I'm reaching out to invite you to share your unique story and expertise with our readers.
We're putting together an upcoming issue and want to feature a select group of top auto shop owners from across the US. Your story, services, and insights will be of great interest to our readers and will make a big impact on our mag.
If you're interested, comment in this thread and we can schedule a chat about your story and the services you offer.
Looking forward to sharing your expertise with the auto community!
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