Employee Fraud: Tips to Prevent Fraid and Profit Leaks [RR 890]
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By Joe Marconi in Joe's Blog0 commentsIt 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.
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By carmcapriotto
Thanks to our partners, NAPA TRACS and Promotive
In this episode of Business by the Numbers, Hunt Demarest, CPA, dives into the world of financial projections—what they are, why they matter, and how to build a solid financial story that banks will take seriously. Whether you’re looking to secure a loan, expand your shop, or simply set better financial goals, this episode will help you navigate the process with confidence.
Key Takeaways:
The biggest mistake shop owners make when creating financial projections. Why your story matters more than the numbers when pitching a loan request to a bank. The three key levers you can adjust in a financial projection: sales, margins, and expenses. How to build a realistic projection that a bank will trust. Why working with an accountant on projections can save you from financial disaster. Common red flags that make banks reject loan applications.
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/
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
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By carmcapriotto
Thanks to our Partners, NAPA Auto Care, NAPA TRACS and Automotive Management Network This episode focuses on the importance of planning ahead for selling a business in the auto repair industry. Bob Ward stresses that business owners should start identifying and training potential successors early—often from their current team. He walks through a clear four-step process to help with the transition, covering key areas like finding the right fit, determining the business’s value, securing financing, and handling legal requirements. Bob Ward, Perpetual Business, Bob’s Previous Episode HERE. Bob Ward’s Email: [email protected] Show Notes Watch Full Video Episode TST Big Event, March 29th, 2025: https://www.tstseminars.org/ Bob Ward's Ownership Essentials Class April 10-12, Phoenix, AZ: https://perpetualbusiness.co/product/ownership-essentials-phoenix-2025 Importance of Succession Planning (00:00:00) Challenges of Retirement (00:02:23) Value of Transitioning Ownership (00:03:23) Procrastination in Planning (00:05:01) Family Involvement in Succession (00:06:08) Role of Key Employees (00:07:30) Facilitating Ownership Transition (00:08:01) Four Steps to Succession (00:08:27) Retention Strategies (00:10:30) Equity Equivalence Concept (00:11:08) Managing Ownership Changes (00:12:53) Successor Responsibilities (00:15:09) Financing the Purchase (00:16:31) Process Simplification (00:17:31 Successor Concerns (00:21:53) Owner's Perspective on Successors (00:22:22) Missed Opportunities in Succession (00:22:49) Financial Realities for Successors (00:23:14) Perpetual Business Concept (00:28:39) Compatibility Assessment Importance (00:32:57) Essential Career Goals Discussion (00:34:11) Overcoming Fear of Ownership (00:36:40) Identifying the Right Successor (00:37:19) Valuation Metrics Discussion (00:39:36)
Thanks to our Partners, NAPA Auto Care, NAPA TRACS and Automotive Management Network Learn more about NAPA Auto Care and the benefits of being part of the NAPA family by visiting https://www.napaonline.com/en/auto-care 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: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -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 Twitter: 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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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 delivers an insightful "state of the industry" update specifically tailored for auto repair businesses. He delves into the current challenges and opportunities facing the industry, starting with the rising vehicle dependability issues that have become increasingly prevalent. As cars age and require more frequent maintenance, auto repair shops are seeing a surge in demand for their services.
Chris also explores the shifting consumer preferences towards more fuel-efficient vehicles, driven by environmental concerns and fluctuating fuel prices. This trend is influencing the types of services and expertise that repair shops need to offer, as well as the parts and technologies they must be familiar with.
Economic factors such as inflation and rising credit card debt are also impacting customer affordability, making it crucial for auto repair businesses to find ways to offer value while maintaining profitability. Chris emphasizes the importance of consistency in business practices, suggesting that shops should focus on delivering reliable service and building customer trust to navigate these economic challenges.
Adapting to the increased demand for repairs on older vehicles is another key point Chris addresses. He advises shops to invest in training and tools that enable them to efficiently service a wider range of vehicle makes and models, ensuring they can meet the needs of their diverse customer base.
Furthermore, Chris highlights the need for improved technician work conditions, recognizing that attracting and retaining skilled technicians is essential for any repair shop's success. He suggests that businesses consider offering competitive wages, benefits, and a positive work environment to keep their teams motivated and productive.
Strategic marketing is another area Chris focuses on, encouraging auto repair shops to leverage digital marketing strategies to reach potential customers effectively. He underscores the importance of a strong online presence and targeted advertising to stand out in a competitive market.
State of the Industry Update (00:01:10)
Chris shares insights on the auto repair industry's current state and trends for 2025.
Vehicle Dependability Study (00:02:17)
Discussion on JD Power's vehicle dependability report and issues with vehicle reliability.
Supply Chain Disruptions (00:03:43)
Ongoing supply chain issues from the pandemic affecting vehicle repairs and parts availability.
Shift in Consumer Preferences (00:06:09)
Consumers are moving from SUVs and trucks to smaller, more affordable cars.
Impact of Inflation on Vehicle Affordability (00:07:25)
Inflation is influencing consumer buying habits and delaying vehicle purchases.
Nissan's Production Changes (00:08:44)
Nissan cuts jobs and production capacity, shifting focus toward electric vehicles.
Tariffs and Their Effects (00:10:06)
Discussion on potential tariffs and their impact on vehicle prices and customer affordability.
Credit Card Debt Concerns (00:11:18)
Rising credit card debt poses risks for customers' ability to pay for repairs.
Production and Supply Chain Challenges (00:12:31)
Expected production drops due to tariffs leading to shortages and delayed repairs.
Market Growth Drivers (00:13:52)
Identifying key groups driving growth in the auto repair market.
Decline of Certain Repair Shops (00:15:20)
Analysis of repair shops losing revenue and market share.
Technician Workforce Insights (00:15:20)
Statistics on technician preferences, job satisfaction, and recruitment challenges.
New Vehicle Sales Trends (00:18:01)
Declining new vehicle sales and shifting mileage to older vehicles.
Aftermarket Growth Opportunities (00:19:22)
Increased demand for repairs on older vehicles presents opportunities for repair shops.
Conclusion and Call to Action (00:20:25)
Chris emphasizes the importance of adapting to industry changes and promotes Shop Marketing Pros again.
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
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
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By carmcapriotto
Thanks to our partners, NAPA TRACS and Promotive
This week on Business by the Numbers, Hunt Demarest, CPA with Paar Melis and Associates, breaks down the latest market news and legislative updates that directly impact auto repair shop owners. From the return of the BOI (Beneficial Ownership Information) report to evolving tax policy discussions and IRS processing delays, Hunt provides a no-nonsense analysis of what’s happening and how it could affect your business.
In This Episode, You'll Learn:
✔️ The BOI Report is back—what it is, why it matters, and the March 21st deadline you can’t ignore.
✔️ Trump’s tax proposals—what’s being discussed, what’s likely to pass, and what it means for your shop and your customers.
✔️ IRS struggles & refund delays—why tax processing is slower than ever and what to expect if you’re waiting on an Employee Retention Tax Credit (ERTC) refund.
✔️ Interest rates & the economy—why rates aren’t moving much (yet), and what this means for your financial strategy in 2025.
✔️ The state of small businesses & consumer spending—how last year’s trends impact this year’s outlook, and why customer financial health affects your shop’s profitability.
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/
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
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By carmcapriotto
Thanks to our partners, NAPA TRACS and Promotive
Closing your shop on Saturdays might sound like a risky move, but could it actually improve your business? In this episode of Business by the Numbers, Hunt Demarest, CPA, explores the real financial and operational impact of shutting down on Saturdays. Is it worth it? What factors should you consider before making the switch? Whether you're thinking about a 5-day workweek, reducing hours, or making strategic changes to your shop’s schedule, this episode is packed with insights to help you make an informed decision.
Key Topics Covered:
✅ Why auto repair shops are moving away from Saturday hours
✅ The financial impact of closing on Saturdays—and how to make up for lost sales
✅ How to determine if your shop can afford fewer workdays
✅ The role of employee preferences in business hours
✅ Attracting top talent by offering a 5-day workweek
✅ Strategies to transition customers from weekend scheduling
✅ Real-life case studies of shops that successfully cut their Saturday hours
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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