2024 Benchmark Report Part 2: Profitability, Labor Rates, and Productivity Metrics [E134] - 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 Joe Marconi
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By Transmission Repair
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By Changing The Industry
Revolutionizing the Automotive Industry With Leadership And Performance #podcast
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By carmcapriotto
Thanks to our partners, NAPA TRACS and Promotive
Join Hunt Demarest, CPA from Paar Melis and Associates, as he dives into one of the most crucial aspects of financial planning for your business—forecasting for the year ahead. Whether you're setting your business goals or analyzing key performance metrics, Hunt provides actionable insights to help you simplify and strengthen your forecasting process.
In this episode, you’ll learn:
Why forecasting is essential for your business's growth and performance. Simple steps to start forecasting—even if you’ve never done it before. Tips on analyzing your current business performance to set realistic goals for 2025. How to use key financial metrics to identify areas of focus and improvement. Tools and methods to streamline your forecasting, from basic spreadsheets to advanced software. Discover how forecasting can bridge the gap between where your business is and where you want it to be. Start making data-driven decisions that drive profitability and success.
Thanks to our partners, NAPA TRACS and Promotive
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. 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
Thanks to our Partner, NAPA Auto Care Focusing on the third part of a five-part 'Unstoppable Framework for Auto Shop Owners' series, Maryann Croce discusses strategies for optimizing processes and empowering teams. Mary Ann shares insights from her coaching experiences, including a case study of a client named Steve, who overcame burnout by streamlining operations and delegating tasks. The episode emphasizes the importance of continuous improvement, setting boundaries, and fostering a supportive team environment for business success. Maryann, Small Biz Vantage. Maryann’s previous episodes HERE. Show Notes Watch Full Video Episode Here's the link to the fillable download: https://bit.ly/409jaZV Unstoppable Framework for Auto Shop Owners Part 1: Core Values and Vision [RR 997]: https://remarkableresults.biz/remarkable-results-radio-podcast/e997/ Unstoppable Framework for Auto Shop Owners Part 2: Mastering Your Finances [RRR 1004]: https://remarkableresults.biz/remarkable-results-radio-podcast/e1004/ Unstoppable Framework Overview (00:01:12) The Goal of the Framework (00:02:13) Steve's Story: The Doing It All Trap (00:04:37) Creating Standard Operating Procedures (00:05:46) Impact of Delegation on Business and Life (00:08:30) Importance of Accountability (00:10:46) Steps for Creating SOPs (00:12:51) Encouraging Team Autonomy (00:16:13) Structured Onboarding and Continuous Learning (00:18:27) Feedback Loops and Open Communication (00:19:39) The Business Control Dilemma (00:20:38) Small Wins Matter (00:20:51) Breaking the Micromanagement Cycle (00:21:53) Setting Boundaries for Well-being (00:23:44) The Importance of Personal Time (00:24:42) Final Thoughts on Business Growth (00:25:42) Continuous Improvement Mindset (00:26:52)
Thanks to our Partner, NAPA Auto Care 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 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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