Quantcast
Jump to content


A Shop Owner's Exit Plan- Step 1 - Get Your Business Ready to Sell Today


Recommended Posts

  • Joe Marconi changed the title to A Shop Owner's Exit Plan- Step 1 - Get Your Business Ready to Sell Today

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 Partners, AAPEX, NAPA TRACS, and Automotive Management Network Scott Brown shares his profound journey through significant health challenges, specifically his battle with bladder cancer. Scott reflects on the lessons learned from his experiences, emphasizing the importance of living in the moment and preparing for the future. He discusses the emotional impact on his family, the illusion of control, and the necessity of succession planning. Scott’s story is a powerful reminder of life's unpredictability and the need to cherish each day, encouraging listeners to take proactive steps in their personal and professional lives. Scott Brown, Cardinal Plaza Shell, Springfield, VA. Scott’s previous episodes HERE Show Notes Watch Full Video Episode The Illusion of Control (00:03:25) The Diagnosis Revelation (00:04:21) Assessing Succession Plans (00:06:52) Health Challenges and Recovery (00:07:41) Living One Day at a Time (00:08:25) The Impact on Loved Ones (00:10:56) Long-Term Family Planning (00:12:10) The Copper Beech Tree Metaphor (00:14:05) The Importance of Values and Legacy (00:16:07) Succession Planning in Business (00:20:36) Competitive Advantage Discussion (00:22:28) Emotional Impact of Health Challenges (00:26:24) Busyness as an Idol (00:28:39)
      Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR 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/ Get ready to grow your business with the Automotive Management Network: Find on the Web at http://AftermarketManagementNetwork.com for information that can help you move your business ahead and for the free and informative http://LaborRateTracker.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             Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Recorded at the 2024 Automotive Aftermarket Retailers of Ontario (AARO) Business Management and Lindertech Training Tradeshow, discover how simply attending meetings can significantly improve net profit, the impact of cost management, and tips on leveraging technology for business efficiency. Murray Voth, RPM Training. Listen to Murray’s previous episodes HERE. [email protected] Show Notes Watch Full Video Episode Automotive Aftermarket Retailers of Ontario (AARO): https://www.aaro.ca/ Importance of Attendance (00:02:04) Discussion on how missing educational events can lead to lost opportunities and profits. Value of Showing Up (00:03:05) Murray emphasizes the connection between attendance and improved business performance. Networking and Community (00:04:39) The significance of in-person meetings for building relationships and sharing knowledge. Learning from Group Sessions (00:05:23) Murray shares insights on the benefits of participating in group coaching sessions. Addressing Intimidation in Coaching (00:07:50) Discussion on how some individuals feel intimidated and hesitant to participate in coaching. The Need for Continuous Learning (00:10:59) Carm stresses the importance of seeking expert guidance and accountability in business. Coaching Styles and Techniques (00:11:53) Murray contrasts different coaching approaches and their effectiveness in the industry. Utilizing Technology for Coaching (00:13:28) Murray discusses the transition to online coaching and the importance of Google Business Profile. Engagement in Virtual Meetings (00:14:17) The effectiveness of screen sharing and virtual meetings in enhancing learning experiences. Introduction to Collaboration Tools (00:15:54) Discussion on using screen sharing and collaboration tools for knowledge sharing among automotive shop owners. Resources for Business Improvement (00:18:58) Introduction to automotive management network resources such as SOPs and checklists for business advancement. Note-Taking and Organization (00:20:00) Personal experiences with note-taking and strategies for managing notes effectively in a business context. Using Google Docs for Accountability (00:23:22) How Google Docs can facilitate accountability by allowing team members to log and review action plans collaboratively. Networking and Community Support (00:27:02) Encouragement for members to utilize networking tools like Slack for better communication and support among peers. Understanding Employment Law (00:30:33) Insights into Canadian employment law regarding severance and the importance of having employment contracts to protect business owners. Understanding Severance Costs (00:32:12) Discussion on the financial impact of severance costs and the importance of understanding net income. Calculating Impact on Sales (00:33:13) Exploration of how to calculate necessary sales to cover losses in the automotive industry. Networking and Sharing Solutions (00:34:11) Importance of sharing experiences and solutions among peers in overcoming business challenges. Expense Management Insights (00:35:09) Discussion on the need for better focus on expense management in business operations. Insurance and Expense Comparisons (00:36:02) Sharing strategies for managing insurance and other recurring expenses effectively. Planning Expense Discussions (00:37:35) Proposal to plan discussions on key expenses in future meetings for better financial management. Setting Budgets and KPIs (00:38:27) Discussion on the importance of setting budgets and KPIs for various business expenses. Normalizing Income Statements (00:39:18) Explanation of how to clean up income statements for accurate financial analysis.
      Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Set your sights on Las Vegas in 2024. Mark your calendar now … November 5th-7th, 2024. AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at http://AAPEXSHOW.COM/WEBINAR 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/ Get ready to grow your business with the Automotive Management Network: Find on the Web at http://AftermarketManagementNetwork.com for information that can help you move your business ahead and for the free and informative http://LaborRateTracker.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             Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      The Weekly Blitz is brought to you by our friends over at Shop Marketing Pros. If you want to take your shop to the next level, you need great marketing. Shop Marketing Pros does top-tier marketing for top-tier shops.
      Click here to learn more about Top Tier Marketing by Shop Marketing Pros and schedule a demo:https://shopmarketingpros.com/chris/
      Check out their podcast here: https://autorepairmarketing.captivate.fm/
      If you would like to join their private Facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermind
      In this episode of "The Weekly Blitz," Coach Chris Cotton delves deep into the intricate balance between focusing on future goals and reflecting on past experiences. He emphasizes the critical importance of learning from both successes and failures to inform future decisions, ensuring that each step forward is grounded in wisdom gained from previous endeavors. Coach Chris offers a wealth of practical strategies to achieve this balance, such as scheduling dedicated reflection time, maintaining a detailed journal to track progress and insights, and celebrating milestones to acknowledge and appreciate growth.
      He warns against the dangers of becoming too fixated on future ambitions, which can lead to the neglect of valuable lessons from the past, potentially repeating mistakes or missing out on crucial learning opportunities. The episode also includes a special shout-out to the sponsor, Shop Marketing Pros, which specializes in providing innovative marketing strategies tailored specifically for auto repair shops, helping them to thrive in a competitive market.
      Introduction to the Episode (00:00:08)
      Coach Chris Cotton introduces the podcast and highlights its focus on business insights and industry updates.  
      Shout-out to Sponsor (00:01:08)
       
      Recognition of Shop Marketing Pros for their tailored marketing strategies for auto repair shops.  
      Focus on the Future vs. Reflection on the Past (00:01:08)
       
      Discussion on the importance of balancing future goals with reflection on past experiences.  
      The Importance of the Past (00:02:09)
       
      Exploration of how past experiences shape current knowledge and decision-making.  
      Reasons to Reflect on the Past (00:03:12)
       
      Outlining key reasons for reflection: context, lessons from failure, celebrating progress, and maintaining perspective.  
      The Journey vs. Destination (00:04:16)
       
      Emphasis on appreciating the journey rather than solely focusing on future achievements.  
      Balancing Forward Momentum with Reflection (00:05:25)
       
      Practical strategies for integrating reflection into business practices.  
      Risks of Forgetting the Past (00:06:37)
       
      Consequences of focusing only on the future, including loss of core values and lessons.  
      Finding Balance (00:07:56)
       
      Encouragement to honor past experiences while pursuing future ambitions for a grounded approach.  
      Connect with Chris:
       
      [email protected]
      Phone: 940.400.1008
      www.autoshopcoaching.com
      Facebook: https://www.facebook.com/
      AutoFixAutoShopCoachingYoutube: https://bit.ly/3ClX0ae
       
      #autofixautoshopcoaching #autofixbeautofixing #autoshopprofits #autoshopprofit #autoshopprofitsfirst #autoshopleadership #autoshopmanagement #autorepairshopcoaching #autorepairshopconsulting #autorepairshoptraining #autorepairshop #autorepair #serviceadvisor #serviceadvisorefficiency #autorepairshopmarketing #theweeklyblitz #autofix #shopmarketingpros #autofixautoshopcoachingbook
      Click to go to the Podcast on Remarkable Results Radio
    • Fast Free Shipping on All Orders Over $50
    • By carmcapriotto
      Join host Kim Walker as she leads a heartwarming and insightful panel discussion with auto repair shop owners who are making a real difference in their communities. In this special episode, our panelists share how they're stepping up during the back-to-school season to support local students and teachers through creative initiatives—from donating school supplies to funding teacher wish lists and organizing community events.
      Listen as Tanika Haynes, Christina Grace Beverly, and Nakia and Nate Bailor discuss the challenges they’ve faced, the unexpected rewards of giving back, and how these efforts have strengthened their ties to the community. Whether you’re a shop owner looking for inspiration or simply curious about the power of local engagement, this episode is packed with practical tips and stories that will inspire you to take action.
      Hit play now to learn how even small gestures can create lasting impacts, both for your business and your community! 🚗🎒
      Thank you to RepairPal for sponsoring The Auto Repair Marketing Podcast. Learn more about RepairPal at https://repairpal.com/shops
      Back to School Marketing Discussion in the FB group  
      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]
      Click to go to the Podcast on Remarkable Results Radio


  • Similar Tagged Content

  • Our Sponsors



×
×
  • Create New...