Ratchet With a Cause - My early years
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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
This week Hunt discusses the basics behind debt and how to pay your debt down in a safe manor.
• What factors go into evaluating whether debt is a good option or not?
• How does leverage work with debt and how do you analyze the situation to make sure it will be a profitable one?
• Do I actually want to be debt free or is this debt making me more money than it is costing me?
• How do I select what debt to start paying down first?
Thanks to our sponsor partner NAPA TRACS
NAPATRACS.com
Hunt Demarest, CPA
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online : www.paarmelis.com
Email Hunt: [email protected]
Get a copy of my Book : Download Here
Click to go to the Podcast on Remarkable Results Radio
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By Ruben Van Zenden
Today, we simply cannot ignore social media, everyone is using it whether you are a fan or not. Personally, I think it has its negative and positive sides.
I have been looking at 100+ car repair shops and noticed that only a hand full are using social media marketing, for example, Facebook advertising.
Why are so few car repair shops making use of this, in my opinion, great opportunity to increase car count?
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By carmcapriotto
Insights to the Vision Hi-Tech & Expo Class "Which Scan Tool Should I Buy?" Saturday, March 4th 8:45 am-11:45 am with Scott Shotton, Scot Manna, Tanner Brandt, Keith Perkins, and Sean Tipping.
Scott Shotton, The Driveability Guys. Scott’s previous episodes HERE. Tanner Brandt, Autodiag Clinic. Tanner's previous episodes HERE. Scot Manna, Trainer, ACDelco Technician of the Millennium. Scot's previous episodes HERE. Watch Full Video Episode HERE Show Notes:
"Which Tool Should I Buy?" Saturday March 4th 8:45am-11:45am with Scott Shotton, Scot Manna, Tanner Brandt, Keith Perkins and Sean Tipping Register Here For Vision 2023 Q&A- shop owners/managers included Shop owners may or may not know the functionality of scan tools Raffles
Thanks to our Partner, Dorman Products. Dorman gives people greater freedom to fix vehicles by constantly developing new repair solutions that put owners and technicians first. Take the Dorman Virtual Tour at www.DormanProducts.com/Tour
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By Transmission Repair
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By carmcapriotto
On Record with Greg Buckley. Greg discusses extended car warranties. You must educate your customer!
Greg Buckley, owner of Buckley’s Auto Care in Wilmington, and Millsboro DE. Greg’s previous episodes HERE.
Show Notes:
Extended warranty- used car market has been hot over the last few years. People want a ‘protection’ What types of companies underwrite policies? You must educate the customer on what they already purchased for their vehicle- most contracts are limited Ask for a copy of the contract, review it, look for ‘what’s not covered,’ and explain to customer. Additional testing time? Labor? Rust? “Do your own warranty” before you fall into the marketing funnel of extended warranties Are these customers one and done? Only repairing what is covered and not doing proper maintenance. Better margins with OE for warranty claims You must have oil change records- regular service receipts
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
Check out today's partner:
Dorman gives people greater freedom to fix vehicles by constantly developing new repair solutions that put owners and technicians first. Take the Dorman Virtual Tour at www.DormanProducts.com/Tour
Click to go to the Podcast on Remarkable Results Radio
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