Housing Market, Paying Off Your House and Sky High Interest Rates [E118] - Business By The Numbers
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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 Changing The Industry
Episode 180 - Navigating Customer Expectations With The Founder of Datadyne Joshua Hemmerling
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By carmcapriotto
In this episode of "Business by the Numbers," Hunt Demarest, CPA, kicks off a three-part series breaking down the 2024 Automotive Industry benchmark report for auto repair shops across the country. This report gives a clear look at how shops are performing financially and operationally, helping owners see where they stand.
Key Points:
• Benchmark Report Basics: The episode starts by explaining a detailed report that covers sales, profits, and key metrics for different types of auto repair shops, including Euro and diesel shops in various regions.
• Sales and Tech Performance: The report shows average monthly sales per technician, highlighting how important it is to make sure your techs are productive and hitting industry standards.
• Profit Margins: Hunt dives into the differences in profit margins on labor and parts, showing how different types of shops (like general repair versus high-end) stack up in terms of profitability.
• Rising Costs: There’s a discussion on how rising costs, especially in labor and rent, are squeezing profits, and why keeping costs in check is crucial to staying in the black.
• Industry Trends: The episode also covers big industry trends, like the need to offer solid employee benefits to attract good workers, and the different ways shops are paying their staff.
• DOWNLOAD THE REPORT HERE: https://paarmelis.com/wp-content/uploads/2024/08/2024-PMA-Benchmark-Report.pdf
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]
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: 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.
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.
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.
Click to go to the Podcast on Remarkable Results Radio
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By Changing The Industry
Episode 179 - Boosting Profits with Tire Programs and Road Hazard Services Featuring Chris Cotton
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By carmcapriotto
A lifelong student of history - this episode began as a serious topic of interest for Craig - and evolved into multiple conversations with a special guest.
For our listeners, we took our time with this episode and it was reviewed with careful consideration due to the significance of the subject.
On June 6, 2024 - many of us in the free world paused to recognize a significant anniversary. The 80th anniversary of D-Day.
D-Day, also known as Operation Overlord, was the allied invasion of Normandy to liberate Europe from Nazi tyranny.
There have been other milestone anniversaries of D-Day, but this year came at a very challenging time in the world and hits very differently that previous years for other reasons.
The conversation begins around why that is.
One term that was raised in one of the many articles written on the topic - was that we are losing our ‘tangible interpreters’ of the event.
The people who were there in 1944, the people that many of us knew or were even raised by, sadly, will not be with us much longer. The knowledge of these major events now passes to those of us fortunate to know those who lived it and to take care in how we communicate these events to new generations who soon will never have the chance to meet a veteran of WWII.
To help with this topic - Craig knew the perfect guest, Evan Wisner.
When sharing an anniversary article with Evan, that article highlighted the Army Rangers DDAY operation on Point Du Huc, a conversation followed that we decided to take to the recording studio.
Craig came to know Evan and appreciates his unique experiences and expertise as they are both members of Grand Rapids Toastmasters Club#404 - joining the club around the same time in 2019. This means - Craig gets to hear a lot of great speeches from Evan. Since Evan is both an EQ expert as well as a veteran of the war on terror who served alongside Army Rangers, you can be certain he brings a unique perspective to this conversation that makes it very much worth listening to.
We ask listeners to take into consideration that this was a discussion focused on one major operation of a larger campaign of a greater war, and that all history, especially discussion around war, is limited, and does not tell every story, and often needs context for understanding.
Thank You To Our Partners:
The Institute at We Are The Institute. "Stop stressing over your business, you deserve a good night's sleep. The Institute’s coaching helps you achieve success and financial peace.
AutoFlow at AutoFlow.com. Your partner in technology, Autoflow consolidates your client interactions - before, during and after the visit to a single thread. Learn more at Autoflow.com
AutoLeap at AutoLeap.com. Are you tired of juggling multiple tools to manage your auto repair shop? Say hello to the streamlined efficiency of AutoLeap, the #1 all-in-one Auto Repair Shop Management Software!
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”
Shop Dog Marketing at Shop Dog Marketing.com. "Want to see your auto repair shop thrive? Let Shop Dog Marketing be your guide. Our customer-first approach, combined with AI-driven creative content, ensures top rankings.
Contact Information
Craig O'Neill Email: HERE
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 Changing The Industry
Episode 178 - Working Remotely In Automotive Repair With Kyle Buenger and Kasia Thompson
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