Profit is not a Dirty Word [FTR 106]
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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
Recorded at the 2024 Automotive Aftermarket Retailers of Ontario (AARO) Business Management and Lindertech Training Tradeshow, our panel discusses strategies for increasing gross profit, team harmony, and the significance of training the next generation of automotive professionals. By understanding and managing gross profit, embracing expert guidance, and fostering a culture of continuous improvement, shop owners can navigate the challenges of the industry and achieve long-term success. Murray Voth, RPM Training. Listen to Murray’s previous episodes HERE. [email protected] David Coelho, Village Auto Care, London, ON Nick Schonenberger, Kaufman’s Garage, Kitchener, ON Show Notes Watch Full Video Episode Automotive Aftermarket Retailers of Ontario (AARO): https://www.aaro.ca/ Murray Voth's Coaching Impact (00:02:57) Nick discusses how Murray's coaching and app changed his approach to gross profit. Building Profit into Gross Profit (00:03:06) The importance of integrating net profit into gross profit for better financial management is emphasized. Understanding Gross Profit (00:05:33) Nick reflects on the realization that gross profit is essential for covering all business expenses. The Role of Mastermind Groups (00:07:29) Discussion on how belonging to mastermind groups can open shop owners' eyes to new possibilities. The Journey from Shop Owner to Business Owner (00:09:36) The fear and misconceptions that prevent shop owners from embracing their roles. Efficiency in a Two-Bay Shop (00:11:08) David shares how he improved efficiency and processes in his shop after facing challenges. The Harmony of Teamwork (00:14:20) The importance of collaboration and teamwork in achieving high productivity is highlighted. Training and Developing Technicians (00:15:20) David explains how his team trains together, ensuring consistent processes and high performance. Balancing Growth and Team Well-being (00:16:06) The discussion concludes with thoughts on managing growth without overwhelming the existing team. Introduction and Improvement Ideas (00:16:16) Discussion on the need for better communication and vision in shop management. Reflecting on 2023 and Future Changes (00:18:01) Encouragement for shop owners to assess last year’s performance and consider necessary changes. Training and Team Development (00:19:05) Introducing impactful training methods accessible to all team members for continuous improvement. Understanding Gross Profit Metrics (00:22:10) Clarifying the difference between markup and gross margin in shop pricing strategies. Teaching and Inspiring Future Technicians (00:26:57) David discusses his role as an educator and the importance of attracting young talent to the trade. Building a Professional Image in the Industry (00:29:00) Emphasizing the need for a positive image of the automotive trade to attract new entrants. Flexibility in Shop Management (00:30:40) David reflects on the flexibility he has as a shop owner to balance teaching and managing effectively. Service Training Insights (00:33:24) Discussion on the importance of service training and the impact on student confidence in customer relationships.
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, Auto-Fix Auto Shop Coaching Proven Auto Shop Coaching with Results. Over 61 Million in ROI with an Average ROI of 9x. Find Coach Chris Cotton at AutoFix Auto Shop Coaching on the Web at https://autoshopcoaching.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 Click to go to the Podcast on Remarkable Results Radio
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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, Emily Chung shares her recent trip to China with her 2 sons and father, discussing cultural experiences, manufacturing insights, and consumer differences. Highlights include the impact of tariffs on the automotive aftermarket and the importance of global collaboration, particularly in the context of electric vehicles and semiconductor production. Emily emphasizes the need for understanding and adapting to global market dynamics. Emily Chung, Autoniche, Markham, ON. Emily’s previous episodes HERE. Show Notes Watch Full Video Episode Automotive Aftermarket Retailers of Ontario (AARO): https://www.aaro.ca/ Trip to China (00:01:10) Emily shares insights about her recent trip to China with her sons and father. Visit to Rotor Plant (00:02:04) Emily talks about visiting her father's rotor plant and the manufacturing process observed. OEM vs. Aftermarket (00:04:20) Emily explains the difference between original equipment manufacturers and aftermarket suppliers. Perceptions of China (00:05:34) Emily emphasizes the importance of experiencing China firsthand to understand its reality. China's Retirement Population (00:06:28) Emily highlights the large retirement population in China, comparable to the entire U.S. population. Cultural Observations (00:09:05) Emily reflects on the historical context of China and its political landscape compared to North America. Quality of Products Made in China (00:10:00) Emily addresses misconceptions about the quality of products manufactured in China. Use of Robots in Hotels (00:10:38) Emily shares her observations of robots used for food delivery and cleaning in hotels. Fast Food in China (00:13:35) Emily describes the differences in fast food offerings, including Tim Hortons and Starbucks. Unique Starbucks Offerings (00:14:43) Emily talks about a unique Starbucks drink found in Beijing that is not available in North America. Five Guys Experience (00:15:57) Emily shares her surprising experience dining at Five Guys in Shanghai. Cultural Insights on Food Delivery (00:16:15) Emily shares her experience with unique food delivery practices in China, including ordering from different restaurants while dining out. Children's Learning Experience (00:23:30) Emily reflects on the lessons her children learned about cultural differences and social norms during their trip. Wage Disparity Discussion (00:25:11) Emily explains the context of wage disparities in Chinese manufacturing, highlighting living conditions and compensation packages. Traffic and City Structure in Beijing (00:27:17) Emily describes the chaotic traffic and city layout in Beijing, emphasizing the scale of urbanization in China. Safety and Monitoring in China (00:29:14) Emily discusses the low crime rates in China and the impact of surveillance on public safety perceptions. Electric Vehicle Market Insights (00:30:17) Emily shares observations on the diverse electric vehicle market in China, including traditional and tech company manufacturers. Global Trade and Economic Perspectives (00:31:42) Emily emphasizes the importance of global trade and economic understanding, discussing recent trends and concerns in policy. Tariffs and Their Impact on Prices (00:32:37) Discussion on how tariffs have doubled the prices of automotive parts, affecting the aftermarket industry. Engaging with China for Better Products (00:34:23) Exploration of the need to collaborate with China for advanced automotive technology and products. Electrification and Economic Concerns (00:34:55) Discussion on how shutting out China could increase costs for consumers amid a push for electrification. Teaching the Next Generation (00:36:47) Emily shares her experience teaching students about the automotive aftermarket and its complexities. Understanding Aftermarket Parts (00:37:01) Explaining the difference between OEM parts and aftermarket parts to students in automotive business classes.
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
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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
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By carmcapriotto
Thanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network Tony Molla shares the need for advanced technical skills in today’s automotive careers. The discussion underscores the importance of engaging parents and students, reshaping perceptions of automotive careers, and encouraging industry professionals to actively participate in local educational initiatives to inspire the next generation. Tony Molla, host of the Team ASE Podcast and also serves as the Texas Field Manager for the ASE Education Foundation. Show Notes
https://www.aseeducationfoundation.org/ Tony Molla's Background (00:02:45) Tony shares his extensive career in the automotive industry and his editorial experience. Importance of Education in Automotive Industry (00:04:12) Carm and Tony discuss the need for improved education and involvement in CTE programs. Changing Perceptions of Automotive Careers (00:04:12) Tony emphasizes the evolving view of automotive careers and the skills required today. Role of Parents in Career Choices (00:05:20) Tony explains the influence parents have on students' career decisions in the automotive field. Career and Technology Education Programs (00:06:13) Tony advocates for involvement in CTE programs to build foundational skills for students. Post-secondary Program Options (00:07:10) Discussion on the benefits of post-secondary programs for aspiring automotive technicians. Curriculum Changes in Education (00:08:06) Carm shares his involvement in updating local college automotive curriculum. Challenges in Educational Resources (00:08:55) Tony talks about challenges in funding and resources for CTE programs across the nation. Perceptions of Independent Repair Shops (00:11:51) Carm discusses changing perceptions of job opportunities in independent repair shops. Importance of Industry Benefits (00:12:49) Tony highlights the need for independent shops to offer competitive benefits to attract talent. Diverse Career Paths in Automotive (00:14:56) Carm emphasizes the various opportunities available within the automotive industry beyond traditional roles. Investing in Employee Training (00:15:39) Tony stresses the importance of employers investing in ongoing training for technicians. The Importance of Passion in Careers (00:20:00) Discusses the necessity of passion for success and financial rewards in any career. Career Changes and Opportunities (00:20:26) Tony shares his journey through various career changes and the importance of technical background. Finding Job Security in Trades (00:21:24) Explores the idea of job security in trades, emphasizing skill and knowledge. Reinventing Yourself (00:21:48) Tony reflects on the need to actively seek new opportunities and reinvent oneself. The Value of Technical Knowledge (00:22:35) Highlights how technical expertise can lead to unexpected job opportunities. Recruitment Strategies in the Automotive Industry (00:23:40) Discusses the need for businesses to be proactive in finding and recruiting talent. Finding the Right Employer (00:25:22) Carm asks for tips on how individuals can identify suitable employers. What Students Look for in Employers (00:25:45) Tony explains what younger job seekers prioritize when choosing an employer. Importance of Workplace Culture (00:28:38) Emphasizes the significance of workplace culture and employee satisfaction. Flexibility and Work-Life Balance (00:29:34) Discusses the increasing demand for flexible working hours and life balance. Engaging Young People in the Industry (00:30:37) Tony suggests ways to engage young people in automotive careers through local programs. Getting Involved with CTE Programs (00:31:01) Provides information on how to connect with local CTE programs for community involvement. Becoming a Community Pillar (00:32:14) Encourages professionals to support and engage with local educational programs.
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
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By carmcapriotto
Thanks to our Partners, Shop Boss, and 360 Payments In this episode of For the Record, Maylan Newton tackles the pressing issue of the technician shortage in the automotive industry. Maylan emphasizes the importance of proactive involvement from shop owners and industry representatives in engaging with educational institutions and students. He highlights the need for better representation at vocational events and the necessity of running businesses that attract and retain skilled technicians. Maylan urges the industry to work together to create an inviting career path for the next generation. Maylan Newton, ESI- Educational Seminars Institute. Maylan’s previous Episodes HERE Show Notes
Hiring Challenges in the Industry (00:00:30) Maylan discusses the full-time nature of hiring and the industry's struggles to attract technicians. Skills USA Event Insights (00:01:02) Maylan shares his experience at a Skills USA event, highlighting the lack of automotive representation. Engaging Young People (00:02:19) He emphasizes the need for the automotive industry to inform youth about career paths available. Personal Outreach to Schools (00:03:24) Maylan recounts his efforts speaking at high schools to promote automotive careers. Importance of Industry Visibility (00:05:25) Maylan urges industry members to actively engage with schools and promote career opportunities. Attracting and Retaining Technicians (00:06:17) He stresses the need for fair treatment and compensation for new technicians entering the field. Talent Acquisition Efforts (00:08:01) Maylan highlights the proactive approach of other industries in recruiting young talent. Call to Action for Shop Owners (00:09:38) He challenges shop owners to commit to engaging with local schools and vocational programs. Quotes for Inspiration (00:10:35) Mahlon shares motivational quotes to encourage industry involvement and improvement.
Thanks to our Partners, Shop Boss and 360 Payments Shop Boss – Shop Management Software built by shop owners for shop owners. It works the way you need it to, right out of the box. Find on the web at https://shopboss.net 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 -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections 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.
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