Expense Management, Rent, Taxes
Shop expense management expenses. Includes most general expenses, rent, mortgage, taxes, and other expenditures that do not have a dedicated forum.
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By Brian Smith · Posted
Agreed, the customer, and people in general, remember how you made them feel. If you can make them feel good about a purchase or an experience at your shop they'll likely come back, spread a good word, and be willing to pay you even more than originally planned. It pays to be a good human being, especially in the auto industry. -
By Brian Smith · Posted
I can't tell you how much tax season sucks. Thank god for accountants, they are my best friend when it comes to tax season. Running our auto repair shop is one of the enjoyable experiences of my life except when the tax man shows up 😂. It's all good and well though. -
By carmcapriotto · Posted
Thanks to our Partners, NAPA TRACS, and Today's Class Explore the complexities of family succession in automotive businesses, featuring insights from a psychologist, a shop owner, and her father, who transitioned the business to her. The discussion covers topics such as defining roles, seeking professional guidance, addressing financial considerations, establishing boundaries, and the importance of a trusted, non-family advisor during the succession process. The conversation highlights the need for business owners to relinquish control, embrace change, and recognize the value of diverse perspectives in leadership. Jessica Carrino, Sparks Tire & Auto, St. Charles, MO. Jessica’s previous episodes HERE Ron Tinner, COO, Repair Shop of Tomorrow Dr. David Weiman is the president of Weiman Consulting, a leadership consulting firm in Philadelphia PA. Listen to David’s previous episodes HERE Show Notes Watch Full Video Episode Introduction to Family Succession (00:00:00) Importance of Defined Roles (00:02:22) Dr. Weiman's Insights on Family Businesses (00:03:15) Clarity in Decision-Making (00:06:02) Ron Tinner's Transition Story (00:07:29) Jessica's Initial Involvement (00:09:00) Coaching Dynamics (00:10:21) Jessica's Greatest Challenge (00:11:07) Motivating Gen Z Technicians (00:12:38) Finding Young Technicians (00:15:59) Challenges of Inheriting Staff (00:16:56) Boundaries in Family Business (00:17:53) Succession Planning Insights (00:20:01) Role of Non-Family Advisors (00:21:08) Identifying Successors (00:22:06) Family Dynamics and Relief (00:24:06) Financial Considerations in Succession (00:25:11) Understanding Roles in Succession (00:25:26) The Challenge of Letting Go (00:28:49) Work-Life Balance for Owners (00:29:09) Support and Learning from Failure (00:30:23) Alignment of Values (00:31:24) Understanding Communication Styles (00:33:14) Transitioning Authority (00:35:30) Succession Planning Insights (00:35:58) Future Considerations (00:36:59) Annual Succession Review (00:37:38) Thanks to our Partner, NAPA TRACS NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Thanks to our Partner, Today's Class Optimize training with Today's Class: In just 5 minutes daily, boost knowledge retention and improve team performance. Find Today's Class on the web at https://www.todaysclass.com/ Connect with the Podcast: -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on X: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -Special episode collections: https://remarkableresults.biz/collections The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/ The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/ The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/ Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/ Click to go to the Podcast on Remarkable Results Radio -
Joe, I can see that for invoices above $2k or $3k, if the customer knows ahead of time. I see how that makes sense to the business owner (and their accountant). But I’ll bet to the customer for the lower invoices, you’re trying to eek out another $10 or $15. AND, they could think, where else are you eeking out an extra few bucks (or more)? Apparently you are not profitable enough to absorb that. Why? Not enough (good) customers? Why? It’s a convenience for them. So they’re stuck paying that or write a check or go to the bank and get $1000 in cash??? Plus many get cash back or flight miles, which you’re also taking. Remember searching airline prices, comparing prices, making your decision, only to find out at the very end there are additional charges? Taxes, fees, and those darn baggage charges. Did you like that? I doubt it. I think credit card fees fall into that category (for the customer). -
By carmcapriotto · Posted
Hunt examines technician cost management within automotive repair shops shop management systems. He explores the issue of inaccurately reported labor costs, which frequently misrepresent the true financial health of the business. Hunt discusses the underlying reasons for this discrepancy, and how they calculate technician compensation. The episode talks to various methodologies that can be employed to rectify these inaccuracies, ensuring that shop owners possess a more precise understanding of their financial obligations. The objective of this episode is to empower our listener with actionable insights that can lead to improved profitability and operational efficiency in their businesses. Takeaways: The podcast discusses the critical issue of accurately recording technician costs in shop management systems, which is often miscalculated, leading to significant profit discrepancies. The episode emphasizes the importance of revising technician cost methods to reflect true expenses, thereby enhancing financial transparency and operational efficiency. Listeners are urged to assess their current payroll structures and make necessary adjustments to ensure more precise financial forecasting. Understanding the relationship between productivity and payroll costs is vital for maintaining profitability, with practical strategies provided to achieve this. Thanks to our partners, NAPA TRACS and Promotive Thanks to our partner, NAPA TRACS Did you know that NAPA TRACS has onsite training plus six days a week support? It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice. Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.com Thanks to our partner, Promotive It’s time to hire a superstar for your business; what a grind you have in front of you. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com. Paar Melis and Associates – Accountants Specializing in Automotive Repair Visit us Online: www.paarmelis.com Email Hunt: [email protected] Text Paar Melis @ 301-307-5413 Download a Copy of My Books Here: Wrenches to Write-Offs Your Perfect Shop The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest https://huntdemarest.captivate.fm/ The Auto Repair Marketing Podcast with Kim and Brian Walker https://autorepairmarketing.captivate.fm/ The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/ Speak Up! Effective Communication with Craig O'Neill https://craigoneill.captivate.fm/ Click to go to the Podcast on Remarkable Results Radio -
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By carmcapriotto · Posted
Join host Brian Walker as he welcomes Mauro Stara to explore the transformative connection between your health and business success. In this episode, Mauro shares his expertise on why your body is your ultimate business card and how optimizing your well-being can take your professional performance to the next level. Discover actionable strategies like improving sleep quality, managing stress, and fine-tuning your diet for better energy and focus. Plus, learn how personalized blood work and hormone optimization can help you achieve sustainable results. Don’t miss this insightful conversation packed with practical tips to help you elevate your health and your business. Tune in now! Thank you to our friends at RepairPal for this episode. RepairPal will introduce your shop to new customers through repairpal.com, the largest site for auto repair. Learn more at RepairPal.com/shops. Are you ready to convert clients to members? App fueled specializes in creating custom apps tailored specifically for auto repair businesses. Build client loyalty. Get started today with your own customer loyalty app. Visit Appfueled.com How To Get In Touch With the Guest https://www.instagram.com/maurostaraofficial/ - Instagram https://www.facebook.com/mauro.stara.944/ - Facebook https://www.linkedin.com/in/mauro-stara-4b4295217/ - Mauro Stara https://6packceo.com/start - Six Pack CEO Show Notes with Timestamps Introduction to the Episode (00:00:01) Brian Walker introduces the podcast and guest Mauro Stara, discussing the episode's theme. Body as a Business Card (00:01:08) Mauro shares insights on how physical appearance impacts business perceptions and relationships. Judgment by Appearance (00:02:10) Discussion on the subconscious judgments people make based on appearance in business settings. Health vs. Wealth (00:04:13) Mauro emphasizes the importance of prioritizing health alongside pursuing wealth for long-term success. First Impressions Matter (00:05:08) Mauro explains how health influences trust and credibility in business interactions. Changing Perceptions of Successful Individuals (00:06:45) Brian and Mauro discuss how successful figures are increasingly prioritizing their health and fitness. Metabolic Panels Importance (00:09:37) Mauro explains why he starts with metabolic panels for clients to assess health effectively. Transformation Through Blood Work (00:12:29) Mauro shares his experience of using blood work to optimize client health and weight loss results. Introduction to RepairPal (00:15:34) Discussion on how RepairPal helps auto repair shops gain customer trust and grow their business. App Fueled Overview (00:16:40) Introduction to App Fueled, a customer loyalty app for auto service shops to enhance customer retention. Blood Work and Hormone Optimization (00:17:48) Mauro discusses the importance of hormone optimization through blood work and the pitfalls of standard health ranges. Changing Testosterone Ranges (00:19:09) Comparison of historical and current testosterone levels, highlighting the impact of societal health trends. The Importance of Feeling Good (00:21:01) Emphasis on personal health and how it affects business performance, beyond just numerical test results. Five Pillars for Testosterone Optimization (00:23:45) Discussion of five key areas to address for naturally increasing testosterone levels. Sleep's Critical Role (00:25:01) Importance of quality sleep in maintaining healthy testosterone levels and overall well-being. Diet and Mineral Deficiencies (00:26:04) Focus on diet quality and addressing mineral deficiencies as crucial for testosterone production. Body Fat and Hormonal Balance (00:26:18) Explaining how excess body fat affects hormones and overall mental health. Chronic Stress and Hormonal Prioritization (00:27:18) Impact of chronic stress on hormone levels and the body's reproductive priorities. Environmental Factors (00:28:32) Discussion on how environmental factors can subtly influence hormone health. Business Lifestyle and Sleep (00:28:39) Reflection on the business owner's lifestyle and its negative impact on sleep and health. Effective Workout Strategies (00:29:25) Mauro advocates for a manageable workout routine of three times a week for optimal health. The Importance of Recovery (00:31:25) Discusses the need for balanced workout frequency to avoid fatigue and maintain testosterone levels. Walking vs. Running (00:32:23) Explains the benefits of walking for long-term sustainability over high-intensity workouts like running. Personal Experience with CrossFit (00:34:09) Shares insights on how intense training can lead to difficulties in maintaining a diet. Actionable Health Advice (00:35:07) Suggests starting with blood work to assess health and identify potential issues. Nutritional Framework (00:36:22) Recommends a balanced diet focusing on protein and fats to stabilize blood sugar levels. Program Information (00:37:17) Provides details on the "Six Pack CEO" program and how to get more information. Blood Work Offer (00:38:04) Mentions a special offer for blood work analysis to help assess health conditions. Closing Remarks (00:39:51) Encourages listeners to reach out with questions and highlights the value of health assessments How To Get In Touch Group - Auto Repair Marketing Mastermind Website - shopmarketingpros.com Facebook - facebook.com/shopmarketingpros Get the Book - shopmarketingpros.com/book Instagram - @shopmarketingpros Questions/Ideas - [email protected] Thanks to our Partners, RepairPal at https://repairpal.com/shops. Quality Car Repair. Fair Price Guarantee. App Fueled at appfueled.com. “Are you ready to convert clients to members? AppFueled™ specializes in creating custom apps tailored specifically for auto repair businesses. Build your first app like a pro.” Aftermarket Radio Network Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. Click to go to the Podcast on Remarkable Results Radio
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