Sean

I have been soon some research on different sales techniques and found this great article that is inline with my thoughts on the subject. I.e, explaining what's wrong vs selling services. What is working at your shop?

http://www.customerlink.com/do-you-know-the-difference-between-listing-selling-explaining/#more-10664

Nice gonzo that's a good story. Human nature is a baffling thing.

I found those numbers reading online and maybe goal would be more realistic then rule of thumb. It looks like parts would be 40 %.

Here is the article:

http://m.autodealermonthly.com/article/104533/service-and-parts-profitability

Another great article:

http://www.shopownermag.com/Item/114380/knowing_your_numbers_helps_boost_shop_profitability.aspx

Lots of good ideas you have that will be implemented. I agree with others that it's important to keep your employees in the loop about the changes you are making and why. Also as a rule of thumb 70% gross profit on labor is what you should be shooting for. I.e if your employee is being paid $25/he then you need to charge @ $84 an hour to get the gross profit of 70%. 25 / .3 = 84.

Great advice everyone I will definitely consider all that was mentioned thanks again

I like the website. The mobile version is especially nice. Cool to know you coined the term Ollie as well.

Thanks Jim

Wow that's a crazy story way to keep your cool

Great looking shop congrats on all the hard work coming together.

 

In what way Sean? The issues those have posted seem clear to me and not muddled at all.

 

If someone has a thought and/or is frustrated how would one handle it?

I guess I was echoing what others had said up above

ATSAutomotive, on 27 Jan 2014 - 5:24 PM, said:

Almost seems like you are frustrated with your own team. Something going on you want to talk about?

No offense to the original poster. I just got a little lost in the whole thread. I agree it's a place for shop owners but I feel the techs have good valuable information. Has anyone considered a tech section to the website? It's probably just me and the way I receive information but I felt that it got a little ranty but it is a valuable thread and worth discussing.

"I'm saying running a business is not easy and this site is as I understood a place for shop owners to get together and talk, complain, give advice or whatever else is needed. If I wanted a techs advice is ask for it which I do every Friday when I take the whole shop to lunch. It's ignorant not to hear what everyone thinks for the most part, just not here at ASO. I certainly don't want my guys signing on here and complaining or even giving advice."

This I can agree with and see your point Phynny.

Seems like a lot of frustration going in here and it makes whatever point people are trying to make muddled

Thanks for the link that is a pretty cool tool

The local economic development center provided me with " automotive aftermarket" reports that break down what is spent on automotive items in my county. This allowed me to see that the market in my county was X dollars for auto repair. This in turn allowed me to formulate a plan.

The maxisys looks like a great tool. I don't see any literature about the scope. It does say it has scope capability though. Either way perhaps this tool and a four channel pico scope would be the way to go and both could be had for thousands less than a verus or verdict

Not sure if this helps but it may:

http://www.ratchetandwrench.com/RatchetWrench/November-2013/Potential-Gaps-in-Your-Business-Insurance-Coverage/

Hey guys and gals,

I am in the middle of putting together an offer for the purchase of an existing shop. As you can imagine there are a lot of things and variables to consider. I was hoping to get some feedback on things people they wish they had done differently or suggestions in regards to buying a business, structuring the sale etc. For instance did you purchase the business and the real estate? Was it an asset sale or stock sale? Anyone advice on how to get a group of guys that have worked at the same place for 20 years on board with your style of leadership and plan for the future? The shop I am interested in has a good reputation in the community but also everyone is pretty close to retirement age.

Thanks ahead of time for advice.

This is a good topic. I think if nothing else diagnostic time/charges will continue to increase with the increasing complexity of modern vehicles.

Another great article from Bob found on page 24 of this magazine. Do the math 1 to 3 more hours of productivity can pay huge dividends. Pretty sobering statistics.

http://www.youblisher.com/p/637328-Auto-Trucking-Atlantic-July-2013/

I think it looks great good work.

That makes more sense, however that is still a cap rate of 10% roughly. You mentioned the location was great and sometimes if that's the case then it's worth that alone in regards to advertising

You might want to look at capitalization rates generally as a rule of thumb good cap rates are usually in the 6-8% range (cap rate is annual rental income divided by purchase price) in other words is the building worth 1.8 million as Wes pointed out? 7% of 1.8 million is 126,000 divide by 12 (months ) is @10,000 a month.

There is good advice aside from the sexist and gay comments it's a good article.

I have been in a vehicle that lost steering and I ended up going into oncoming traffic on the interstate, not cool ! This was a fleet vehicle for a rescue team and needless to say I won't drive that vehicle anymore since it almost killed me.

I watch the videos on you tube all the time. I also bought the ebook I really enjoy his teaching style.

Being a native of Detroit it makes me happy to see GM survive all these years. Lots of hard working people there, congrats to my brother who just left Toyota to take a job at GM as an engineer