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By Joe Marconi in Joe's BlogIt always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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By carmcapriotto
Thanks to our Partners, NAPA Auto Care, NAPA TRACS and Automotive Management Network This episode focuses on the importance of planning ahead for selling a business in the auto repair industry. Bob Ward stresses that business owners should start identifying and training potential successors early—often from their current team. He walks through a clear four-step process to help with the transition, covering key areas like finding the right fit, determining the business’s value, securing financing, and handling legal requirements. Bob Ward, Perpetual Business, Bob’s Previous Episode HERE. Bob Ward’s Email: [email protected] Show Notes Watch Full Video Episode TST Big Event, March 29th, 2025: https://www.tstseminars.org/ Bob Ward's Ownership Essentials Class April 10-12, Phoenix, AZ: https://perpetualbusiness.co/product/ownership-essentials-phoenix-2025 Importance of Succession Planning (00:00:00) Challenges of Retirement (00:02:23) Value of Transitioning Ownership (00:03:23) Procrastination in Planning (00:05:01) Family Involvement in Succession (00:06:08) Role of Key Employees (00:07:30) Facilitating Ownership Transition (00:08:01) Four Steps to Succession (00:08:27) Retention Strategies (00:10:30) Equity Equivalence Concept (00:11:08) Managing Ownership Changes (00:12:53) Successor Responsibilities (00:15:09) Financing the Purchase (00:16:31) Process Simplification (00:17:31 Successor Concerns (00:21:53) Owner's Perspective on Successors (00:22:22) Missed Opportunities in Succession (00:22:49) Financial Realities for Successors (00:23:14) Perpetual Business Concept (00:28:39) Compatibility Assessment Importance (00:32:57) Essential Career Goals Discussion (00:34:11) Overcoming Fear of Ownership (00:36:40) Identifying the Right Successor (00:37:19) Valuation Metrics Discussion (00:39:36)
Thanks to our Partners, NAPA Auto Care, NAPA TRACS and Automotive Management Network Learn more about NAPA Auto Care and the benefits of being part of the NAPA family by visiting https://www.napaonline.com/en/auto-care NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Get ready to grow your business with the Automotive Management Network: Find on the Web at http://AftermarketManagementNetwork.com for information that can help you move your business ahead and for the free and informative http://LaborRateTracker.com Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -Special episode collections: https://remarkableresults.biz/collections The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/ The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/ The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/ Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/ Click to go to the Podcast on Remarkable Results Radio
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By Changing The Industry
Episode 207 - Kathleen Callahan Discusses Right To Repair and Industry Advocacy
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By nptrb
Hey, auto repair shop owners! With January behind us, it means one thing is coming down the pike: tax season.
Before you grit your teeth at the thought of filing, it’s important for you to understand that staying on top of your tax obligations is crucial for the health of your business. And, as always, we’ve got your back, which is why we’re here to break down the key tax deadlines you need to keep in mind, especially as we move through the year.
Keeping your taxes in order is like keeping your shop organized. A well-maintained shop runs smoothly, and so does a business with its tax ducks in a row. In this blog article, we’re diving into some important deadlines to keep you on track.
Quarterly Estimated Taxes (Form 1040-ES)
If your business is a sole proprietorship, partnership, or S corporation, and you expect to owe at least $1,000 in taxes, you’ll likely need to pay estimated taxes quarterly.
This is because taxes aren’t automatically withheld from your business income like they are from a paycheck. Think of it as paying your taxes in installments throughout the year.
1st Quarter (Jan 1 – Mar 31): Due April 15, 2025 2nd Quarter (Apr 1 – May 31): Due June 15, 2025 3rd Quarter (June 1 – Aug 31): Due September 15, 2025 4th Quarter (Sept 1 – Dec 31): Due January 15, 2026 Missing these deadlines can result in penalties, so bookmark this post and add those dates to your calendar!
Employer Taxes
If you have employees (and most repair shops do), you have additional tax responsibilities.
These taxes are typically deposited either monthly or semi-weekly, depending on your total tax liability. The IRS provides specific guidelines on deposit schedules, so it’s essential to understand which one applies to your business. Form 941 (Employer’s Quarterly Federal Tax Return) is used to report these taxes. The due dates for Form 941 generally align with the quarterly estimated tax deadlines mentioned above.
Employer taxes include:
Federal Income Tax Withholding
You’re responsible for withholding federal income tax from your employees’ paychecks and depositing it with the IRS.
Social Security and Medicare Taxes (FICA)
You withhold these taxes from employees’ wages and also match the amount.
Federal Unemployment Tax (FUTA)
You pay this tax to fund unemployment benefits for workers who lose their jobs.
Annual Tax Returns
Of course, we can’t forget about your annual tax returns. Depending on your business structure, you’ll file different forms:
Sole Proprietorship: Schedule C (Form 1040) is filed with your personal income tax return. Partnership: Form 1065 (U.S. Return of Partnership Income) is filed to report the partnership’s income and losses. Partners then report their share on their individual tax returns. S Corporation: Form 1120S (U.S. Income Tax Return for an S Corporation) is filed to report the corporation’s income and losses. Shareholders then report their shares on their individual tax returns. C Corporation: Form 1120 (U.S. Corporate Income Tax Return) is filed to report the corporation’s income and pay corporate income tax.
The deadline for filing these returns is generally April 15th for individuals and partnerships, and March 15th for S corporations and C corporations (unless you file for an extension).
State Taxes
Don’t forget about state taxes!
These vary depending on your location but can include state income tax, sales tax, and unemployment tax. Be sure to check with your state’s tax agency for specific deadlines and requirements.
Keeping Your Taxes Organized
Keeping accurate records throughout the year is essential for meeting these deadlines and ensuring you’re not overpaying or underpaying.
This includes tracking income, expenses, payroll, and any other relevant financial information. Cloud-based accounting software can be a lifesaver here, making it easy to track your finances and generate reports. QuickBooks Online is the software we always recommend!
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