Quantcast
Jump to content


Recommended Posts

Posted

Vincent B. Waterhouse (Vin) is the president and founder of The Waterhouse Group, (TWG), an automotive Accounting, Training and Coaching company. He has over thirty years of experience in the automotive aftermarket and has written several manuals on asset management. His specialty is working with auto repair shop owners, part store owners and outside salespeople.

He has written magazine articles and authored private label courses for NAPA, Parts Plus and others in the aftermarket. He has conducted hundreds of profit management seminars and workshops for auto repair shop owners, auto part store owners and parts distribution center management teams across the United States including Alaska, Hawaii, Canada, and Guam. He is a pioneer in his field and author of “The Labor Factory” and the “NAPA exclusive AutoCare Financial G.P.S.”

On another level, he authored “The Three Mile Survey” and sales courses for jobber owners, store managers, and factory representatives. His workshops have revolutionized the way professional technicians and shop owners interact with their parts suppliers. He is rated as an excellent instructor whose past personal experience helps attendees succeed at their businesses. Vin Waterhouse is a master motivator, able to relate to his audience, and a sought-after speaker at conventions and professional group meetings on topics such as sales, marketing, operations, and finance.

Prior to founding Automotive Aftermarket Consulting Group (AACG) in 1986, and The Waterhouse Group Inc. in 1997, he held positions as a Stock Room Mgr, Sales representative, Market Development Manager, General Manager, and Regional Manager, with profit and loss accountability, for NAPA, ITT Automotive Distributors Division, and former CARQUEST.

A veteran of the U.S. Navy, he holds a B.S. in Business Administration and Accounting from the Plymouth State University of New Hampshire. In 1973, he cut short his pursuit of a law degree to work full time in the automotive field.

Beginning with the year 2000 he has made an arrangement to work with NAPA on an exclusive basis as a consultant and business trainer across the USA.

 

KEY TALKING POINTS:

  • In the year 2000- agreement with NAPA training nationwide
  • Taught over 20,000+ people in career
  • Our gifted craftspeople (technicians) became owners. They need business management training.
    • A generation ago the shop owner didn’t need to know the numbers. How the world has changed.
  • “You should have the highest payroll in town, not lowest- the output will pay for it”
  • Tells the story of how he came up with the ‘Labor Factory’  
  • Industry missing profit on parts side and billing that part- selling fewer parts per driven mile today; lower than 20 years ago
  • Set labor rate through formula- Should be selling more labor than parts,  53% of revenue, the internal purpose only not what you charge it’s what you get done
    • Example: Have you ever taken 1 hour off of job for the customer because you feel bad? 4 hours on the job, only charge customer 3 hours. Customer doesn’t know total time anyway and cannot relate. Labor rate $100/hour, do not discount labor, instead, take 25% off apart.
  • Today a lot of jobs are labor intensive and you are not selling parts; therefore the formulas where parts and labor were equal and today it is not, is putting pressure of shop profitability.
  • Set diagnostic rate- most profitable work. Vin says the breakdown is:
    • Repair  30%
    • Labor Intensive 15%
    • Diagnostics 55%
  • Diagnostics require a talented technician and there is a cost in obtaining data and subscriptions. Diagnostics should be your most profitable area
  • Today labor sales should be higher than your parts sales. Vin says should run 53 – 55% of your sales.(typical shop)  Depends on your business model.
  • Every shop needs to know their average gross profit dollars per billed hour over the year- every job you do that is below average profit sell job at cost and use labor-intensive rate. Managing to the middle.
  • National stats for profitability are not what they should be.
  • #1 problem/concern for shops today is people. Keeping them and finding them
  • Pricing transparency will bring your parts to margin down which is why you need a ‘labor intensive’ rate

 

Resources:

  • Thanks to Vin Waterhouse for his contribution to the aftermarket’s premier podcast.
  • Link to the ‘BOOKS‘ page highlighting all books discussed in the podcast library HERE. Leaders are readers.
  • Leave me an honest review on iTunes. Your ratings and reviews really help and I read each one of them.

Subscribe-to-the-INSIDER-Newsletter-6.pn

 

Be socially involved and in touch with the show:
Facebook   Twitter   Linked In    Email    Events    Speaking

 

Subscribe to a mobile listening app HERE.

App-Rendering-16.png

 

As a member of the NAPA family, AutoCare Center owners can take advantage of the NAPA National Health Program from the NAPA Insurance Center. This “NAPA only” program gives you and your employees access to national “large group” rates on medical insurance with NAPA-AutoCare-Logo-Vert-A.gifpremiums discounted up to 30 percent. These rates are based on the collective purchasing potential of 22,500 NAPA locations including both NAPA AUTO PARTS stores and NAPA AutoCare Centers.

The NAPA Insurance Center can help you with a variety of other insurance benefits too. For more information about The NAPA National Health Benefits program as well as all of the insurance benefits available to your AutoCare Center and your employees, visit the NAPA Benefits Center, at www.napabenefitscenter.com or call the NAPA Benefits Center at 844-627-2123.

Click to go to the Podcast on Remarkable Results Radio

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Available Subscriptions

  • Have you checked out Joe's Latest Blog?

         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
  • Similar Topics

    • By Joe Marconi

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • By carmcapriotto
      Thanks to our Partner, NAPA Autotech
      NAPA Autotech’s team of ASE Master Certified Instructors are conducting over 1,200 classes covering 28 automotive topics. To see a selection, go to napaautotech.com for more details.
      Contact Information
      Email Matt: [email protected] Diagnosing the Aftermarket A - Z YouTube Channel
      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/
      The 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 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.
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.
      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      Thanks to our Partner, NAPA Autotech
      NAPA Autotech’s team of ASE Master Certified Instructors are conducting over 1,200 classes covering 28 automotive topics. To see a selection, go to napaautotech.com for more details.
      Contact Information
      Email Matt: [email protected] Diagnosing the Aftermarket A - Z YouTube Channel
      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/
      The 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 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.
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.
      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      Thanks to our Partners, NAPA TRACS, and Today's Class Recorded at Vision Hi-Tech Training & Expo 2025, expect discussions on industry trends, Arkansas accents, automotive training, towing experiences, key programming, future business plans, the potential impact of AI on diagnostics, and the Tech Talks class at Vision 2025 - with a few fun detours into movies like 'The Wolf of Wall Street,' 'Predator,' and 'Rocky!'
      Matt Fanslow, Riverside Automotive, Red Wing, MN, Diagnosing the Aftermarket A to Z Podcast
      Zeb Beard, Strokes Diesel and Automotive, Monticello, AR, [email protected]
      Andrew Sexton, ATS Automotive LLC, Cedar Rapids, IA
      Andrew Sexton
      Watch Full Video Episode Vision Hi-Tech Training & Expo: https://visionkc.com/ Introduction and Event Overview (00:00:00) Movie References and Banter (00:01:11) Zeb Beard's Business Expansion (00:02:51) Podcast Anniversary Reflection (00:03:55) Discussion on Towing Operations (00:06:50) Weather Impact on Towing (00:07:25) Battery Issues in Towing (00:09:06) Agricultural Work in Arkansas (00:10:19) Henry Winkler's Role in "Rocky" (00:12:58) Tech Talks at Vision (00:15:05) The Evolution of Training Opportunities (00:15:36) Networking and Collaboration (00:16:44) Thermal Imaging Presentation (00:20:07) Key Programming and Automotive Technology (00:25:44) The Role of AI in Automotive Repair (00:27:37)r. Importance of Foundational Skills (00:34:27) Challenges for New Technicians (00:35:04) Training and Career Development (00:39:20)
      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
    • By carmcapriotto
      Thanks to our Partner, NAPA Autotech
      Matt Fanslow dives into listener-submitted questions, covering:
      Multimeter recommendations (why he prefers insulation testers/meggers over basic DMMs). Electrical diagnostic strategies (schematics, scan tools, and stress-testing circuits). The "Flat Rate Test Drive" (a drivability diagnostic trick for load/PID analysis). Gaming picks (Elden Ring, Assassin’s Creed Shadows, and Days Gone Remaster). Scan tool advice for techs doing more drivability work.
      Timestamps:
      (00:00) – Intro 
      (02:33) – Multimeter recommendations: Why Matt avoids basic DMMs and prefers:
      Fluke 1587 or Pico TA467 (insulation testers for EVs/future-proofing). Used Vantage/Vantage Pro (graphing + scope functions). Curien (Bluetooth-enabled multimeter).
      (11:44) – Electrical diagnostic process:
      Start with a wiring schematic. Use a scan tool to check module inputs/commands. Stress-test circuits (e.g., load with a headlight for power/ground checks). Leverage relays for centralized testing (control/output sides).
      (22:48) – Shoutout to trainer Richard Velko.
      (23:17) – "Flat Rate Test Drive" explained:
      Monitor PIDs (load, MAF, MAP, O2 sensors) during WOT pulls to isolate drivability issues (fuel vs. restriction).
      (34:42) – Gaming corner: Elden Ring, Assassin’s Creed Shadows, and Days Gone Remaster.
      (38:53) – Scan tool recommendations for drivability:
      HP Tuners (budget-friendly, fast data logging). Used Snap-on Solus Edge/Ultra (enhanced OEM data). Shop responsibility (tools should be shop-provided!).
      Quotes
      "I don’t buy just a pure multimeter anymore... Get an insulation tester. You’ll need it for EVs/hybrids." – Matt "The ‘Flat Rate Test Drive’ stresses the engine while watching PIDs to split the problem in half." – Matt "For drivability, HP Tuners is my top pick—great data logging without breaking the bank." – Matt
      Tools & Resources Mentioned:
      Multimeters: Fluke 1587, Pico TA467, Vantage Pro, Curien. Diagnostic Tactics: Wiring diagrams, scan tool bi-directionals, current ramping. Games: Elden Ring, Assassin’s Creed Shadows, Days Gone Remaster. Scan Tools: HP Tuners, Snap-on Solus Edge, TopDon XTool.
      Final Thoughts:
      Matt’s takeaway? Invest in versatile tools (like megohmmeters) and lean on schematics/scan tools to avoid diagnostic rabbit holes.
      Thanks to our Partner, NAPA Autotech
      NAPA Autotech’s team of ASE Master Certified Instructors are conducting over 1,200 classes covering 28 automotive topics. To see a selection, go to napaautotech.com for more details.
      Contact Information
      Email Matt: [email protected] Diagnosing the Aftermarket A - Z YouTube Channel
      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/
      The 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 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.
      The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.
      Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.
      Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.
      Click to go to the Podcast on Remarkable Results Radio


  • Our Sponsors

×
×
  • Create New...