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rpllib

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rpllib last won the day on May 6 2020

rpllib had the most liked content!

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About rpllib

  • Rank
    Occasional Poster

Business Information

  • Business Name
    Midas of Kalkaska
  • Business Address
    202 Elm Street, Kalkaska, Michigan, 49646
  • Type of Business
    Auto Repair
  • Your Current Position
    Shop Owner
  • Automotive Franchise
    Midas
  • Website
  • Banner Program
    None
  • Participate in Training
    Yes
  • Your Mission Statement
    Our purpose at Midas of Kalkaska is to build trust and create lifelong partnerships with our customers, our community , our employees and our vendor partners. Through these positive relationships built on the core values of trust, fairness and honesty, we will provide value and safety to our customers, support to our communities, security for our employees and vendors, and a reasonable profit for our efforts.

Recent Profile Visitors

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  1. I relay this out of appreciation for our good fortune. I would also not want their to be a false impression that the industry was down everywhere. We were up again in 2020 after several years of increases, with only one blip in 2017. Of the 1200 or so stores that I can see increase/decrease numbers for, over 50% were flat or up in 2020. We were down in January 2021 by 20%, over 2020, but only down in Jan 2021 3% over 2018/2019. Things definitely felt tighter this last 30 days.
  2. This is where I started (as stated by others) "Create an exit strategy, or succession plan". I would take that a step further and say "make a personal plan" for your next 20 years. For me, I would by the property, let the rental income be the return on my money, for the time being(assumes no banks or mortgages involved). I would not feel pressured to decide today, what ultimately would be the plan. I would be comfortable in the knowledge, that I just improved my real estate position substantially. But that's just me. My plan is to be no more than a landlord within three years, and t
  3. I believe he just called us "old guys"! (and rightfully so!) Welcome and congrats on your new shop opening. You truly are from a small town, which does come with a certain uniqueness, as it applies to operating an automotive service facility. I recently shared the following with a group of shop owners. I believe you can find value here if you chose. They require an email address to download the resource listed, but it seems well worth it, and no one has contacted me or solicited me as a result. I have no connection to any of the firms or individuals listed, but I am a fan of good c
  4. I really believe the new flexibility act passage will negate most concerns with being able to use the funds correctly, and/or using all the funds. The best advice i have heard today, is to use all the funds for payroll over the new 24 week period(or as long as it lasts), to make the forgiveness end of this a no brainer for the lending institution. The actual quote is: "We recommend trying to spend 100% of the loan amount on payroll over the 24 weeks. That will make the application process much easier since you will only need to provide payroll reports to support your forgivene
  5. I also saw using the funds as a challenge, and worried about getting to the end and being surprised by the results. I created a whatif spreadsheet that compares the current week to their average hourly wage for 2019(all the dollars earned in 2019 divided by all the hours worked, and then then that 2019 "hourly average" times current week hours worked. ex: $60,000 earned in 2019 2234 hours worked in 2019 $26.85 paid for every hour worked in 2019 If my guy worked 45 hours in week one of the eight week expense period, and earned 1042.50(using his standard pay and/or productivi
  6. I have begun to plan the next 30-60 days from a staffing perspective, making the assumption that we will receive a PPP loan that will cover 60 days worth of payroll and some expenses. I wanted to find a way to do some "what if's" as it applies to staffing levels during the 8 week "expense period", that any PPP Loan forgiveness, will be based. I suspect we will be be funding our PPP loan by the end of this month, since the time between receiving a loan number and funding of the loan has been set at 1
  7. John Nicely done! Many take away's from your success. If can happen for many more shop owners. Plan often and plan early. I have been know to say "if I had concentrated more on how I wanted to leave my business, i might have taken better care of it along the way" That said, we are also closing an LOI with our manager this year, and fully expect that to culminate in a sale. Between proceeds and ongoing lease, the funds will provide for us nicely for the rest of our lives. We accomplished this in a 500 square mile county with two traffic stop lights in the county. I truly believe
  8. Yesterday I had a conversation with an investigator for the sales tax division in my state. I ask her the following questions: If I stop charging a mark up on parts and roll all the charges into my labor rate, would I be flagged for an audit by the sale tax division, because my overall sales would remain the same but the sales tax that I report would be cut in half. She did not think so and she had been asked the question before by other owners. Labor is not taxable in Michigan. I then asked her "what if" I stopped charging markup on parts and started charging a "shop rate" (in lieu
  9. I started looking at exit plans almost a decade ago. I approached my 15 year manager with a 15/20 year "manage to own" plan. It was better structured then some, but still woefully lacking in key ingredients. It did not speak to his needs, only mine. After all, if i am going to give him the "business" (no real estate), why should i have to worry about his needs? Right? Not right... He declined and made it clear that he was not interested in ownership. I did not give up and brought a much stronger plan back, a few years later, designed to use with potential candidates from outside my org
  10. Well said on all points Traffic patterns are woefully underestimated in their importance, Imo. They become glaringly clear once you spend 50k (and more) on direct mail and then do a "sales by carrier route" evaluation. Once you overlay "carrier route spends" on a radius map, a lot of what is obvious is common sense. Are there geographical or road/highway barriers between your location and those "high value" neighborhoods? Is work, shopping, medical, ect. primarily in a different direction from those neighborhoods, that puts your store outside their normal travel routes? If they don't hav
  11. This is still great advice. I am not planning on telling my techs that we have discovered that we get zero free calls a month. Can you tell me what program you are affiliated with that gets you 2 free calls and $37 after that. We are at 155 a month, no free calls and 39 per call. Thank You Randy
  12. Might be worth reviewing this two resources: https://www.industryessentials.net/copy-of-results best $30 bucks i have spent in a while https://www.dol.gov/whd/overtime2019/index.htm more to consider, if you believe your staff can meet the "Duties Test" for "exempt from overtime" salary positions
  13. ABS My world is somewhat different then others in this industry and on this forum. What you are describing is a very common event in the franchise automotive service world. The typical new automotive service franchisee has spent most of their career in the corporate world, in some capacity. They, much like you seem, are highly intelligent and analytical and believe they are strong leaders in their perspective fields, and likely so, in what ever that world was. I get to work with these folks(new franchisee's) a few times a year. A few beliefs/lessons (my beliefs) come immediately to
  14. This is truly great advice!!! Thank You for sharing. We have wasted our free calls for far to long, which means we have wasted hundreds of training opportunities. We are introducing a new practice in our store where we will be using our free calls every month and encourging techs and service writers to use the paid service whenever they feel it prudent. $37 is incredibly cheap for technical assistance. Thank you for the insight. This should be a post under it's own heading. Randy
  15. I suspect there is no less than 100 different automotive service coaching organizations in existence today. Only a handful are referenced in the following information. You will probably have more than one during your time in this industry. A good start to learn specific information would be any industry or trade groups in your area. This link may help with that: https://www.automotivemanagementnetwork.com/automotive-service-association/ Below are a couple resources designed to help you make a good decision when it comes to hiring a "good fit", that may be helpful: https:/

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