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Elite Worldwide Inc.

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About Elite Worldwide Inc.

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    9225 Dowdy Drive, San Diego, California, 92067
  • Type of Business
    Auto Repair
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    Shop Owner
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  1. Elite Worldwide Inc.

    Elite Online High Impact Service Advisor Sales Course

    until
    We wanted to give all shop owners out there a heads up that Elite’s Online High Impact Sales Course begins on July 11th. This 4-session, industry acclaimed course has only 100 seats available on a first come, first served basis. Because the course is sponsored by JASPER Engines & Transmissions, JASPER customers receive an exclusive discount! Please find the course details below, and if you have any questions at all, feel free to contact us or give us a call at 800-204-3548. Hope to see you there! Online High Impact Sales Course details: https://www.eliteworldwide.com/online-high-impact-customer-care-sales-course-july.html Content that will be covered: Selling multiple repairs & big ticket items Selling diagnostic testing & maintenance Building powerful relationships in 60 seconds Overcoming the most challenging sales objections Generating higher sales and happier customers Generating more repeat and referral business Presenting service recommendations in a way that makes customers want to buy Note: Course will come with a workbook, homework assignments and testing to ensure accountability and lasting results Presenters: Jen Monclus and Doris Barnes of Elite Price: $179 (JASPER customers receive a $50 discount) Course Dates and Times: Session #1 – July 11, 10:00am–10:45am PST Session #2 – July 18, 10:00am–10:45am PST Session #3 – July 25, 10:00am–10:45am PST Session #4 – August 1, 10:00am–11:00am PST (optional AMI testing at end of session)
  2. By Bob Cooper According to a recent article in the Wall Street Journal, some CEO’s are starting to understand the price they have to pay for quick profits, and many of them are now taking a different approach. Although all companies should consider their long-term growth and financial stability, there has been an ongoing challenge that today’s CEO’s face; the relentless demand for immediate profits that is put on them by their stockholders. Look at it like this. Publicly traded companies (i.e., Delta Airlines, General Motors, etc.) are owned by stockholders just like you and me. Although small investors like us don’t have a voice with such large companies, there are Wall Street fund managers that do have their ear. These are the people that buy and sell stock in staggering lump sums, and in order to entice those fund managers to invest in their companies, and to then keep that money invested in their companies, the CEO’s need to show strong profits not just for the year, but for quarter after quarter. The CEO’s know that if they miss their earnings (profit) mark, then there is a strong probability the fund manager will consider pulling their investment, and investing their money elsewhere. In summary, investors like you and me put pressure on our stockbrokers to generate good profits for us, and in order to do so they put pressure on the fund managers, who then put pressure on the CEO’s. The end result? The CEO’s know if they don’t deliver, they may very well be out of a job, which is why so many of them are far more focused on short-term profits than long-term success. Are their exceptions? You bet, and the late Steve Jobs is a classic example of someone who had a long-term vision and who invested his profits back into Apple. Of course there are others who do so, such as Warren Buffet of Berkshire Hathaway and Bill Gates of Microsoft, but they are few in numbers compared to the CEO’s that are driven by short-term success. So now that the Wall Street Journal is reporting a shift in how CEO’s think about squeezing the golden goose, you may want to revisit your shop’s business strategy as well. Since Steve Jobs is considered by many to have been the greatest CEO of all time, you and I should certainly feel comfortable following his lead. How you view and operate your shop is certainly a personal decision, and I understand everyone is going to have different goals in mind, yet I feel there are some principles in business that are too good to be new. As Steve Jobs showed us, one of these principles is that we can’t let short-term interest or a quest for immediate rewards overcome our better judgement. Let your competitors make that mistake. Instead, just as Steve did, you need to set long-term goals that you believe in, you need to create a plan for reaching those goals, and then you need to constantly invest in your future. Some examples would be investing in training programs that address the newest vehicle technology, or taking the time now to implement an apprenticeship program that will help you develop your own superstar advisors and technicians in the coming years. I’d also recommend launching marketing campaigns that build your brand and focus on your principles, rather than campaigns focused on discounts that are designed to generate immediate sales. These are all surefire ways of investing in your future, and keeping you well ahead of your competitors. If you follow the example that Steve jobs set for us by reinvesting in your company, and if you live by the principle of never putting money ahead of people, you will see what your competitors will more than likely never see; a more profitable, successful business that is good for you, your employees, your customers and the industry. I am sure you will agree that beyond the great products, Steve Jobs gave us quite the gift; a lesson in how to build an incredible business. “Since 1990, Bob Cooper has been the president of Elite (www.EliteWorldwide.com), a company that strives to help shop owners reach their goals and live happier lives, while elevating the industry at the same time. The company offers one-on-one coaching from the industry’s top shop owners, service advisor training, peer groups, along with online and in-class sales, marketing and shop management courses. You can contact Elite at [email protected], or by calling 800-204-3548." View full article
  3. Elite Worldwide Inc.

    A Gift Steve Jobs Left for Shop Owners

    By Bob Cooper According to a recent article in the Wall Street Journal, some CEO’s are starting to understand the price they have to pay for quick profits, and many of them are now taking a different approach. Although all companies should consider their long-term growth and financial stability, there has been an ongoing challenge that today’s CEO’s face; the relentless demand for immediate profits that is put on them by their stockholders. Look at it like this. Publicly traded companies (i.e., Delta Airlines, General Motors, etc.) are owned by stockholders just like you and me. Although small investors like us don’t have a voice with such large companies, there are Wall Street fund managers that do have their ear. These are the people that buy and sell stock in staggering lump sums, and in order to entice those fund managers to invest in their companies, and to then keep that money invested in their companies, the CEO’s need to show strong profits not just for the year, but for quarter after quarter. The CEO’s know that if they miss their earnings (profit) mark, then there is a strong probability the fund manager will consider pulling their investment, and investing their money elsewhere. In summary, investors like you and me put pressure on our stockbrokers to generate good profits for us, and in order to do so they put pressure on the fund managers, who then put pressure on the CEO’s. The end result? The CEO’s know if they don’t deliver, they may very well be out of a job, which is why so many of them are far more focused on short-term profits than long-term success. Are their exceptions? You bet, and the late Steve Jobs is a classic example of someone who had a long-term vision and who invested his profits back into Apple. Of course there are others who do so, such as Warren Buffet of Berkshire Hathaway and Bill Gates of Microsoft, but they are few in numbers compared to the CEO’s that are driven by short-term success. So now that the Wall Street Journal is reporting a shift in how CEO’s think about squeezing the golden goose, you may want to revisit your shop’s business strategy as well. Since Steve Jobs is considered by many to have been the greatest CEO of all time, you and I should certainly feel comfortable following his lead. How you view and operate your shop is certainly a personal decision, and I understand everyone is going to have different goals in mind, yet I feel there are some principles in business that are too good to be new. As Steve Jobs showed us, one of these principles is that we can’t let short-term interest or a quest for immediate rewards overcome our better judgement. Let your competitors make that mistake. Instead, just as Steve did, you need to set long-term goals that you believe in, you need to create a plan for reaching those goals, and then you need to constantly invest in your future. Some examples would be investing in training programs that address the newest vehicle technology, or taking the time now to implement an apprenticeship program that will help you develop your own superstar advisors and technicians in the coming years. I’d also recommend launching marketing campaigns that build your brand and focus on your principles, rather than campaigns focused on discounts that are designed to generate immediate sales. These are all surefire ways of investing in your future, and keeping you well ahead of your competitors. If you follow the example that Steve jobs set for us by reinvesting in your company, and if you live by the principle of never putting money ahead of people, you will see what your competitors will more than likely never see; a more profitable, successful business that is good for you, your employees, your customers and the industry. I am sure you will agree that beyond the great products, Steve Jobs gave us quite the gift; a lesson in how to build an incredible business. “Since 1990, Bob Cooper has been the president of Elite (www.EliteWorldwide.com), a company that strives to help shop owners reach their goals and live happier lives, while elevating the industry at the same time. The company offers one-on-one coaching from the industry’s top shop owners, service advisor training, peer groups, along with online and in-class sales, marketing and shop management courses. You can contact Elite at [email protected], or by calling 800-204-3548."
  4. Superstar shop owner and grassroots marketing guru Servando Orozco shares a tip that will bring new customers into your shop, humanize your business and have a positive impact on your customers and community: For additional help building a more successful shop while elevating our amazing industry, visit the Elite website at www.EliteWorldwide.com.
  5. Retired superstar shop owner Kevin Vaught shares the rule that every shop owner in America needs to follow when it comes to disclosing needed repairs and services to their customers. If you're interested in teaming up with a top shop owner like Kevin Vaught, who has been in your shoes and overcome the challenges your shop is facing, learn more about the Elite Coaching Program.
  6. By Bob Cooper In order to build a successful auto repair shop, there are a number of things you will have to do. You will need to have clearly defined goals, a plan, and you will need to surround yourself with successful people. You will need gifted techs and advisors, a great support staff, the help of marketing professionals and business coaches, and a great accountant as well. Unfortunately, most shop owners don’t understand how to find the really great accountants, they don’t know what to expect from them, and they don’t know how to utilize their services. With our changing economy, and the ever-increasing tax burdens we face in business, now more than ever before, you need to be working with a great accountant. What I would like to do with this article is help take the mystery out of the relationship most shop owners have with their accountants to help you build a more profitable business. Putting first things first, the overwhelming majority of shop owners make two mistakes with their accountants: they use them as overpaid bookkeepers, and they feel their accountant should be giving them business advice. Unfortunately, that’s the furthest from the truth. Unless your accountant knows the key performance indicators that are hit by the top shops in America, what the loaded cost of labor should be for a profitable shop, and what the top shops generate in part profit as a percentage of sales, they’ll be hard pressed to tell you where you can improve. In essence, with rare exception, accountants don’t know your business. Over the years I have learned that we need to look to accountants for help with one thing, and one thing only; reducing our tax liabilities. So here are my recommendations if you want to build a more profitable business. First of all, make sure you are using a good accounting software program, such as QuickBooks. You’ll also need to make sure you have a well-designed chart of accounts, and you’ll need to have a general understanding of business finance. You don’t need an accounting degree, but you should have an understanding of terms like gross profit, operating expenses and cost of sale. Secondly, you will need to know the ideal targets for your key performance indicators. These are the numbers hit by the top shops in America, and knowing them will allow you to look at your income statement and quickly see where you are doing well, and where you can improve. The third thing you will need to do is ensure you have a great accountant. When looking for the right person, you will need to keep two rules in mind. Rule number one simply states that if we put out peanuts we will get monkeys. Choosing an accountant is no different than choosing a good technician; you get what you pay for. There is a reason the cheap accountants are cheap, and the good ones are not cheap because they produce a good return on investment. Where do you find the superstar accountants? You will find they typically represent higher income earners that need to maximize their tax savings, so the best place to start is by asking your attorney, your doctor and any other high income earners you know for referrals. Once you have the right accountant, you will need to meet with them at least twice a year. Your first meeting should be during the first half of the year to review your shop’s year-to-date performance, to project your yearly income, and to start the conversation about your tax strategy. You should then meet again in the third quarter to ensure you are on track, and make any necessary adjustments. In closing, the top notch accountants will typically help you save a lot of money, and will ensure you are in compliance with all relative tax laws. The low-priced accountants? Just like hiring the low-priced technicians, more often than not they will cost you an absolute fortune. Since 1990, Bob Cooper has been the president of Elite, a company that strives to help shop owners reach their goals and live happier lives, while elevating the industry at the same time. The company offers coaching and training from the industry’s top shop owners, service advisor training, peer groups, along with online and in-class sales, marketing and shop management courses. You can learn more about Elite by visiting www.EliteWorldwide.com, or calling 800-204-3548. View full article
  7. By Bob Cooper In order to build a successful auto repair shop, there are a number of things you will have to do. You will need to have clearly defined goals, a plan, and you will need to surround yourself with successful people. You will need gifted techs and advisors, a great support staff, the help of marketing professionals and business coaches, and a great accountant as well. Unfortunately, most shop owners don’t understand how to find the really great accountants, they don’t know what to expect from them, and they don’t know how to utilize their services. With our changing economy, and the ever-increasing tax burdens we face in business, now more than ever before, you need to be working with a great accountant. What I would like to do with this article is help take the mystery out of the relationship most shop owners have with their accountants to help you build a more profitable business. Putting first things first, the overwhelming majority of shop owners make two mistakes with their accountants: they use them as overpaid bookkeepers, and they feel their accountant should be giving them business advice. Unfortunately, that’s the furthest from the truth. Unless your accountant knows the key performance indicators that are hit by the top shops in America, what the loaded cost of labor should be for a profitable shop, and what the top shops generate in part profit as a percentage of sales, they’ll be hard pressed to tell you where you can improve. In essence, with rare exception, accountants don’t know your business. Over the years I have learned that we need to look to accountants for help with one thing, and one thing only; reducing our tax liabilities. So here are my recommendations if you want to build a more profitable business. First of all, make sure you are using a good accounting software program, such as QuickBooks. You’ll also need to make sure you have a well-designed chart of accounts, and you’ll need to have a general understanding of business finance. You don’t need an accounting degree, but you should have an understanding of terms like gross profit, operating expenses and cost of sale. Secondly, you will need to know the ideal targets for your key performance indicators. These are the numbers hit by the top shops in America, and knowing them will allow you to look at your income statement and quickly see where you are doing well, and where you can improve. The third thing you will need to do is ensure you have a great accountant. When looking for the right person, you will need to keep two rules in mind. Rule number one simply states that if we put out peanuts we will get monkeys. Choosing an accountant is no different than choosing a good technician; you get what you pay for. There is a reason the cheap accountants are cheap, and the good ones are not cheap because they produce a good return on investment. Where do you find the superstar accountants? You will find they typically represent higher income earners that need to maximize their tax savings, so the best place to start is by asking your attorney, your doctor and any other high income earners you know for referrals. Once you have the right accountant, you will need to meet with them at least twice a year. Your first meeting should be during the first half of the year to review your shop’s year-to-date performance, to project your yearly income, and to start the conversation about your tax strategy. You should then meet again in the third quarter to ensure you are on track, and make any necessary adjustments. In closing, the top notch accountants will typically help you save a lot of money, and will ensure you are in compliance with all relative tax laws. The low-priced accountants? Just like hiring the low-priced technicians, more often than not they will cost you an absolute fortune. Since 1990, Bob Cooper has been the president of Elite, a company that strives to help shop owners reach their goals and live happier lives, while elevating the industry at the same time. The company offers coaching and training from the industry’s top shop owners, service advisor training, peer groups, along with online and in-class sales, marketing and shop management courses. You can learn more about Elite by visiting www.EliteWorldwide.com, or calling 800-204-3548.
  8. Elite Worldwide Inc.

    Online High Impact Customer Care Sales Course

    until
    We wanted to give all shop owners out there a heads up that Elite’s Online High Impact Sales Course begins on April 4th. There are only 100 seats available on a first come, first served basis. Because the course is sponsored by JASPER Engines & Transmissions, JASPER customers receive an exclusive discount! Please find the course details below, and if you have any questions at all, feel free to contact us or give us a call at 800-204-3548. Hope to see you there! Online High Impact Sales Course details: Course web page: http://www.eliteworldwide.com/event/633/online-high-impact-customer-care-sales-course-april.html Content that will be covered: Selling multiple repairs & big ticket items Selling diagnostic testing & maintenance Building powerful relationships in 60 seconds Overcoming the most challenging sales objections Generating higher sales and happier customers Generating more repeat and referral business Presenting service recommendations in a way that makes customers want to buy Note: Course will come with a workbook, homework assignments and testing to ensure accountability and lasting results Presenters: Jen Monclus and Doris Barnes of Elite Price: $179 (JASPER customers receive a $50 discount) Course Dates and Times: Session #1 – April 4, 10:00am–10:45am PST Session #2 – April 11, 10:00am–10:45am PST Session #3 – April 18, 10:00am–10:45am PST Session #4 – April 25, 10:00am–11:00am PST (optional AMI testing at end of session)
  9. We wanted to give all shop owners out there a heads up that Elite’s Online High Impact Sales Course begins on April 4th. There are only 100 seats available on a first come, first served basis. Because the course is sponsored by JASPER Engines & Transmissions, JASPER customers receive an exclusive discount! Please find the course details below, and if you have any questions at all, feel free to contact us or give us a call at 800-204-3548. Hope to see you there! Online High Impact Sales Course details: Course web page: http://www.eliteworldwide.com/event/633/online-high-impact-customer-care-sales-course-april.html Content that will be covered: Selling multiple repairs & big ticket items Selling diagnostic testing & maintenance Building powerful relationships in 60 seconds Overcoming the most challenging sales objections Generating higher sales and happier customers Generating more repeat and referral business Presenting service recommendations in a way that makes customers want to buy Note: Course will come with a workbook, homework assignments and testing to ensure accountability and lasting results Presenters: Jen Monclus and Doris Barnes of Elite Price: $179 (JASPER customers receive a $50 discount) Course Dates and Times: Session #1 – April 4, 10:00am–10:45am PST Session #2 – April 11, 10:00am–10:45am PST Session #3 – April 18, 10:00am–10:45am PST Session #4 – April 25, 10:00am–11:00am PST (optional AMI testing at end of session)
  10. By Chris Monroe of Elite We have all felt that empty feeling in our gut when a client walks back in the door with the “look” shortly after installing that new set of tires on their BMW. As they uncomfortably begin to describe some rim damage that didn’t exist when the car was dropped off…yuck. Yes, you have policies in place to address such situations, but for whatever reason, the training on quality control has failed and now you are left to deal with the fallout. What next? It is obvious there is a quality control issue that must be addressed, but how you take the next steps are very critical to the image of your business, as well as the credibility of your team. The first step is to remain calm while reviewing with the client their concerns. Walk out to the vehicle and allow them to express what they feel is of issue. Once you have listened and observed with sincerity, start the process of restoration. In our case, we had an incorrect set up on the tire machine with a low profile run-flat that ultimately allowed contact with the rim. This scratched the lip in multiple places. In addition, the technician continued with the installation without stopping to involve the advisor so we could get in front of the issue with the client. The technician did tell the advisor, but the timing was such that the client looked at the assembly on the car prior to checking out. Imagine how much easier this would have been had the advisor gotten to the client immediately to make them aware and assure them that we would professionally restore or replace the wheel. Needless to say, I spent the next day with each and every technician reviewing the situation and the importance of why we have policy and process in place. Our technicians are now well aware of what to do (stop immediately and report the issue to the advising team) if damage occurs or could occur to a client’s vehicle, and understand the importance of getting in “front” of these concerns. A better example this week where a technician wisely notated worn lug nuts and a partially damaged center cap “before” we began work. He gave the advisor a quick heads up that enabled a client visit to the vehicle to see in person and discuss the concerns. Not only did we replace the brakes on the car, but also replaced 20 lug-nuts and 4 center caps! The service concluded with the client scheduling another vehicle for service and thanking our team for being honest and helping resolve the issues. (This ain’t rocket science folks) If you are in the automotive service business, incidents can and will happen. Coach and train your team on how to handle these situations, and demonstrate how important timing is with advising your client. Your shop's reputation and credibility ride on it. This article was provided by Chris Monroe, an industry leading shop owner who recently won the 2018 Tire Dealer of the Year Award, and a Business Development Coach who helps other shop owners reach their goals through the Elite Coaching Program. View full article
  11. Elite Worldwide Inc.

    Timing is Everything When Handling Damage

    By Chris Monroe of Elite We have all felt that empty feeling in our gut when a client walks back in the door with the “look” shortly after installing that new set of tires on their BMW. As they uncomfortably begin to describe some rim damage that didn’t exist when the car was dropped off…yuck. Yes, you have policies in place to address such situations, but for whatever reason, the training on quality control has failed and now you are left to deal with the fallout. What next? It is obvious there is a quality control issue that must be addressed, but how you take the next steps are very critical to the image of your business, as well as the credibility of your team. The first step is to remain calm while reviewing with the client their concerns. Walk out to the vehicle and allow them to express what they feel is of issue. Once you have listened and observed with sincerity, start the process of restoration. In our case, we had an incorrect set up on the tire machine with a low profile run-flat that ultimately allowed contact with the rim. This scratched the lip in multiple places. In addition, the technician continued with the installation without stopping to involve the advisor so we could get in front of the issue with the client. The technician did tell the advisor, but the timing was such that the client looked at the assembly on the car prior to checking out. Imagine how much easier this would have been had the advisor gotten to the client immediately to make them aware and assure them that we would professionally restore or replace the wheel. Needless to say, I spent the next day with each and every technician reviewing the situation and the importance of why we have policy and process in place. Our technicians are now well aware of what to do (stop immediately and report the issue to the advising team) if damage occurs or could occur to a client’s vehicle, and understand the importance of getting in “front” of these concerns. A better example this week where a technician wisely notated worn lug nuts and a partially damaged center cap “before” we began work. He gave the advisor a quick heads up that enabled a client visit to the vehicle to see in person and discuss the concerns. Not only did we replace the brakes on the car, but also replaced 20 lug-nuts and 4 center caps! The service concluded with the client scheduling another vehicle for service and thanking our team for being honest and helping resolve the issues. (This ain’t rocket science folks) If you are in the automotive service business, incidents can and will happen. Coach and train your team on how to handle these situations, and demonstrate how important timing is with advising your client. Your shop's reputation and credibility ride on it. This article was provided by Chris Monroe, an industry leading shop owner who recently won the 2018 Tire Dealer of the Year Award, and a Business Development Coach who helps other shop owners reach their goals through the Elite Coaching Program.
  12. Superstar sales trainer Jen Monclus reveals 5 steps that your service advisors need to follow to overcome even the most challenging sales objections shared by your auto repair customers: For additional help generating happier customers and higher sales, learn more about Elite's industry acclaimed Masters Service Advisor Training Course.
  13. If you want to build a more profitable, successful auto repair business, you’ll need to make sure that every single employee has a clearly defined, written job description. If you’re a shop owner who has a manager in place, then here’s a list of things you will need to include in their job description. 1. They must know the goals of the company, as well as all of the relative Key Performance indicators. For example, when it comes to the company goals, they’ll need to know the long-term goals, as well as the annual, quarterly, weekly and daily goals. They will also need to know the goals for car count, sales, ARO, customer retention and satisfaction, gross profit, technician productivity and efficiency, and taxable income. 2. All shop managers must embrace the mission and culture of the company. The mission is why you do what you do, and the culture is the glue that holds your team together. For example, the mission may be to be to better your community, and the culture of your company may be defined by your shop’s ethics. 3. Shop managers need to ensure that they have a team of superstars, and they need to know how to keep their employees operating at peak performance. This means they’ll need to know the minimum levels of acceptable performance for each position, and all company policies. They will also need to know how to hold effective team meetings and perform reviews, and how to deal with every type of employee issue. 4. Shop managers need to know how to effectively manage customer concerns, and have a firm grasp of the situations that warrant contacting the shop owner, or their designated superior. 5. Shop managers must know how to properly secure the facility, vehicles, cash, checks, credit card information, all customer information and all employee records they have access to. 6. All shop managers must be able to properly maintain equipment, and process both customers and vehicles in a safe and efficient manner. This includes managing the shop’s labor inventory and expenses, properly assigning and dispatching work, and complying with all governmental requirements. 7. All shop managers need to know how to report to the shop owner, or their designated superior. We understand that every shop owner will have different reporting requirements, but at a minimum the manager should be required to provide a daily report on all relative KPI’s, violations of company policies, and customer concerns. This reporting must also include scheduled meetings with the owner (or their superior) to discuss the performance of the business and their recommendations for improvement. 8. At Elite we realize that there will be limitations on the control and authority assigned to the manager, but regardless, they must be held accountable for the overall success of the business. If the manager feels there is something that is holding the company back, or causing harm to the brand in any way, they have an ethical responsibility to advise the owner or their superior immediately. 9. All shop managers must effectively manage their time and tasks. They need to ensure they have a daily plan in place that allows them to remain focused on their goals, roles and responsibilities. 10. Shop managers must accept the fact that it is their responsibility to provide leadership to all the employees. They can fulfill this requirement by remaining focused on the goals of the company, fulfilling the requirements of their job description, treating all others in a professional way, and behaving in a manner that reflects that they will never compromise their ethics, show preferential treatment, or put money ahead of people. Since 1990, Bob Cooper has been the president of Elite, a company that strives to help shop owners reach their goals and live happier lives, while elevating the industry at the same time. The company offers coaching and training from the industry’s top shop owners, service advisor training, peer groups, along with online and in-class sales, marketing and shop management courses. You can learn more about Elite by visiting www.EliteWorldwide.com, or calling 800-204-3548. View full article
  14. Elite Worldwide Inc.

    Job Description of a World Class Manager

    If you want to build a more profitable, successful auto repair business, you’ll need to make sure that every single employee has a clearly defined, written job description. If you’re a shop owner who has a manager in place, then here’s a list of things you will need to include in their job description. 1. They must know the goals of the company, as well as all of the relative Key Performance indicators. For example, when it comes to the company goals, they’ll need to know the long-term goals, as well as the annual, quarterly, weekly and daily goals. They will also need to know the goals for car count, sales, ARO, customer retention and satisfaction, gross profit, technician productivity and efficiency, and taxable income. 2. All shop managers must embrace the mission and culture of the company. The mission is why you do what you do, and the culture is the glue that holds your team together. For example, the mission may be to be to better your community, and the culture of your company may be defined by your shop’s ethics. 3. Shop managers need to ensure that they have a team of superstars, and they need to know how to keep their employees operating at peak performance. This means they’ll need to know the minimum levels of acceptable performance for each position, and all company policies. They will also need to know how to hold effective team meetings and perform reviews, and how to deal with every type of employee issue. 4. Shop managers need to know how to effectively manage customer concerns, and have a firm grasp of the situations that warrant contacting the shop owner, or their designated superior. 5. Shop managers must know how to properly secure the facility, vehicles, cash, checks, credit card information, all customer information and all employee records they have access to. 6. All shop managers must be able to properly maintain equipment, and process both customers and vehicles in a safe and efficient manner. This includes managing the shop’s labor inventory and expenses, properly assigning and dispatching work, and complying with all governmental requirements. 7. All shop managers need to know how to report to the shop owner, or their designated superior. We understand that every shop owner will have different reporting requirements, but at a minimum the manager should be required to provide a daily report on all relative KPI’s, violations of company policies, and customer concerns. This reporting must also include scheduled meetings with the owner (or their superior) to discuss the performance of the business and their recommendations for improvement. 8. At Elite we realize that there will be limitations on the control and authority assigned to the manager, but regardless, they must be held accountable for the overall success of the business. If the manager feels there is something that is holding the company back, or causing harm to the brand in any way, they have an ethical responsibility to advise the owner or their superior immediately. 9. All shop managers must effectively manage their time and tasks. They need to ensure they have a daily plan in place that allows them to remain focused on their goals, roles and responsibilities. 10. Shop managers must accept the fact that it is their responsibility to provide leadership to all the employees. They can fulfill this requirement by remaining focused on the goals of the company, fulfilling the requirements of their job description, treating all others in a professional way, and behaving in a manner that reflects that they will never compromise their ethics, show preferential treatment, or put money ahead of people. Since 1990, Bob Cooper has been the president of Elite, a company that strives to help shop owners reach their goals and live happier lives, while elevating the industry at the same time. The company offers coaching and training from the industry’s top shop owners, service advisor training, peer groups, along with online and in-class sales, marketing and shop management courses. You can learn more about Elite by visiting www.EliteWorldwide.com, or calling 800-204-3548.
  15. Elite Worldwide Inc.

    Article: How Much Is Your Shop Worth?

    By Bob Cooper If you speak with most shop owners they’ll tell you that they think their shop is worth x amount of money. Ask them how they came up with that number, and they’ll tell you it’s based on what they heard another shop sold for, or it’s predicated on their annual sales. But if you really want to know what your shop is worth, first of all, forget everything you’ve heard about “goodwill” and the fact that you have thousands of names in your database. That’s icing on the cake, but it’s not something a buyer can take to the bank. And although there is some value associated with some franchise names, there are two things that are most important to a buyer: the “tangible assets” and the “income history.” Tangible assets are things like real estate, cash in the bank, secured receivables, inventory and equipment. To put it another way, these are the assets that buyers could turn into cash if they had to. When you’re establishing the value of your inventory and equipment, bear in mind that the actual appraised value may very well be far less than what you originally paid. So tangible assets are always number one. In regard to “income history”, we all know that past performance is no guarantee of future performance, yet the substantiated income history of a company is what buyers can use to forecast earnings. And don’t forget: The amount of money the “company” made does not include any income you’ve drawn out of the company as a salary. The company’s income is the amount remaining after all expenses, including your salary, have been considered. So imagine you’re looking to buy a shop, and let’s say the tangible assets are worth $400,000. In addition, let’s say the shop has a history of generating $100,000 in annual income after all expenses, and let’s say the owner has been drawing a salary of $80,000. So if you were to buy that shop, how much would you be willing to invest? Well, only you can answer that question, but I hope you take these 6 points into consideration: 1. If you were to liquidate after you purchased, how much could you sell the assets for? I call this the “street value” of assets. 2. How long has the company been in business, how long have the key employees been with the business, and what’s the probability that these key employees will stay on once you buy? 3. What is the probability of the company continuing to earn the same $100,000 in annual profits, and for how long? 4. In regard to the $80,000 salary the owner was taking, would you be willing to do what he or she does for the company for the same amount? Or will you be able to hire someone to do that job for the same or less? 5. If you were to invest the same amount of money in any other business or investment vehicle, would you receive a better return? 6. What are the terms of the purchase price? You may be better off to pay a higher price in return for a lower down payment, good financing rates and a non-compete. So, how do you establish the value of your business? Not by the icing (goodwill and number of names in your database), but by looking at it through the eyes of both a banker and a buyer. Since 1990, Bob Cooper has been the president of Elite, a company that strives to help shop owners reach their goals and live happier lives, while elevating the industry at the same time. The company offers coaching and training from the industry’s top shop owners, service advisor training, peer groups, along with online and in-class sales, marketing and shop management courses. You can learn more about Elite by visiting www.EliteWorldwide.com, or calling 800-204-3548. View full article


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