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Joe Marconi

Master Tech Cannot Get a Bank Loan?

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I am not here to judge anyone or tell someone how to run their business. But, here is situation that bothers me. I was recently at a shop council meeting and one of the shop owners told that his master tech, a man in his mid 30s cannot get a bank loan to buy a house. When he told ne what he was paying him, I asked him, "That is a real good salary, why can't he get a loan?" He went on to tell me that this tech has only worked for him for 9 months and all his other jobs were either "off the books" or partially off the books. So his last three years of tax returns do not look all the good.

 

I am not naïve or going to tell anyone that I am a Saint. But, this got me thinking. Is this just another one of the reasons why we are plagued with image issues and maybe a reason why many shops struggle?

 

Let me play devil's advocate here. Isn't it true that the best run shops and the most profitable are those that are 100% legitimate.

 

I will leave it right there....

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