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 juanpablo4219 · Posted
If your making reference to the season, at this point it's the hi season for them. The holidays is the answer. Business closing, there are so many factors. For the shipping companies laying off, they're at their peak due to the Holidays and online orders, not laying off until after season... The purchasing habits have change a lot... My sales for November & December had diminished a lot, nothing to compared to the previous months. My thoughts for this year, "Black Friday turn into Black November" The Black Friday sales started early in November and not in the Black Friday, therefore people spending on gifts and specials for the holidays. Once we got to the Thank Giving week, the consumer buy food and kids are out of school, so their funds go to the groceries store. The auto shops are empty since the consumer does not consider their car well being since it runs, if it does not run then they'll consider doing something about it... it's an uphill battle. and Yes, I have been advertising even more, with very little outcome. -
By Transmission Repair · Posted
I just discovered this topic from back in October and I see nobody has made a comment since. I didn't have very much luck with a shop foreman. The main cause, in my opinion, was twofold. If I hired one, right off the bat they wouldn't be productive. If I promoted one of my techs, they had no practical experience running a shop. Eventually, if not sooner, their productivity would also end up as nothing. Either way, I ended up losing one of my best techs. If I ran the shop, it would run the smoothest and most profitable. However, that meant I had to delegate the front counter responsibilities and phone answering. I had my greatest success doing this because it was a lot easier to find someone who fit that job description. I quickly learned from that experience that I had to write a job description for every position. Easier said than done. Over the course of a year, I was constantly editing and updating every job description until I was happy with the employees' outcomes. The old adage about 20/20 vision applies here. Looking back, I should have written a shop owner's job description and included that with all the employees' job descriptions so they would know what to expect from me instead of assuming. -
By Transmission Repair · Posted
Here's a good article from Ratchet & Wrench on how your shop's numbers compare to other shops in a recent survey. https://www.ratchetandwrench.com/running-a-shop/finance/article/55250653/numbers-how-does-your-shop-compare-in-annual-revenue-gross-and-net-profits -
If you’re running a small automotive business, doing a year-end review gives you an accurate picture of your performance over the past twelve months. The information you collect gives you the opportunity to create a tangible action plan for growth as you enter 2025. While this may seem like a daunting task, it is actually a helpful tool that will set your business up for long-term success. This blog post will help you conduct an effective yearly review so your automotive business can thrive next year. Why a Year-End Review is Critical A yearly review is essential for several reasons: You collect data to identify positive and negative patterns within your finances. You have an accurate depiction of your yearly growth. You have the opportunity to reconcile accounts and address discrepancies as needed. The financial data you retrieve from your review is the key to setting realistic and achievable goals for the future. Therefore, conduct your year-end review prior to setting your new goals for 2025. How to Conduct Your Year-End Review Now that you understand why your review is critical, it’s time to get to work. This process should take approximately two hours to complete. Since you’re a busy business owner, it helps to schedule your review on the calendar and treat it like a shop appointment. You wouldn’t cancel on a customer, so don’t cancel on your review appointment. Settle down in a quiet space, turn off your notifications, and dive head-first into your financial records. For a full list of documents to review, check out this blog post, and be sure to download our free End-of-Year Checklist. Here are questions to reflect on as you go: What were your financial goals for your business at the beginning of the year? Consider the state of your business at the beginning of the year. Recall your goals and compare them to your 2024 financial data. Did you meet your financial goals for the year? Evaluate your progress toward said goals. Did you meet them, exceed them, or fall short? Identify why you did or did not achieve your goals this year and reflect on financial data to create a profitable plan moving forward. What went well this year? What could have been improved? Numbers don’t lie, which is why it’s important to be informed of your business’s yearly performance. They are a concrete indicator of what went well and what could have been better. Create a list for each so you can continue the positive patterns and make improvements as needed. You’ve completed your review. Now what? Take a deep breath, pat yourself on the back, and celebrate the completion of another year as an entrepreneur. Now that you understand your yearly progress, it’s time to set new goals and tackle them intentionally and strategically. Remember: It’s okay if the past year did not go according to plan. The data from your year-end review will help you stay on track and succeed over the next twelve months. -
By Changing The Industry · Posted
AI Voice Scams Using A CEO's Voice #podcast #autorepairbusiness #automotivebusiness -
By Changing The Industry · Posted
Why People Pay $7 for Water - The Marketing Behind Liquid Death #podcast #autorepairbusiness -
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By carmcapriotto · Posted
Thanks to our Partners, NAPA TRACS, Auto-Fix Auto Shop Coaching, and Today's Class Partnering with a recruiter isn’t just about filling a position—it’s about building a team that drives your business forward. In this episode, Kelly Cavanaugh, VP of Recruiting at Promotive, Brian Burris, Account Manager at Promotive, and Matt Fanslow, Shop Manager and Diagnostician at Riverside Automotive, share expert insights on attracting and retaining top talent in the automotive industry. Gain valuable perspectives from both a recruitment company and the shop level, offering a well-rounded view on hiring strategies, retention, and building successful teams. Dive into critical topics shaping the industry, including: Recruiting Strategies to attract top talent Retention Techniques to keep employees engaged Overcoming Ghosting in today’s hiring landscape Resume Building tips for technicians Cultural Fit and why it matters in building strong teams Kelly Cavanaugh, VP of Recruiting, Promotive Brian Burris, Account Manager, Promotive Matt Fanslow, lead diagnostician and shop manager, Riverside Automotive, Red Wing, MN. Matt’s previous episodes HERE Matt Fanslow Podcast: Diagnosing the Aftermarket A to Z Show Notes Watch Full Video Episode 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. Challenges in Hiring (00:02:56) Cultural Fit in Interviews (00:03:49) Pre-Screened Interview Questions (00:04:55) Working Interviews (00:05:52) Confidentiality in Job Searches (00:06:37) Reasons for Leaving Jobs (00:07:02) Culture and Career Opportunities (00:08:11) Balancing Work and Training (00:08:34) Investment in Training (00:09:11) Candidate Profiles and Training Willingness (00:12:56) Resume Building Assistance (00:17:09) Candidate Preparation for Interviews (00:18:34) Curious vs. Serious Job Seekers (00:19:39) Ghosting Phenomenon in Recruitment (00:20:47) Communication with Candidates (00:21:31) Understanding Candidate Excuses (00:23:19) Importance of Recruiters for Shop Owners (00:26:09) Delegating Recruitment Tasks (00:32:39) Cultural Shift in Recruitment Practices (00:34:17) Importance of Job Satisfaction (00:36:01) Defining Job Expectations (00:36:34) Qualifying Candidates Effectively (00:36:57) Delegating Hiring Responsibilities (00:37:28) 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, Auto-Fix Auto Shop Coaching Proven Auto Shop Coaching with Results. Over 61 Million in ROI with an Average ROI of 9x. Find Coach Chris Cotton at AutoFix Auto Shop Coaching on the Web at https://autoshopcoaching.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
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