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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
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
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.
I’d like to give another shoutout to our sponsor, Shop Marketing Pros. They are the only marketing company I recommend, and they handle all of the marketing for my own shop as well. If you’re serious about growth, you need strategies that actually work: better websites, higher Google rankings, and ads that bring real customers through your doors.
Visit ShopMarketingPros.com/chris to partner with a team that understands your business. Because every great shop deserves marketing that’s just as great.
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.
I’d like to give another shoutout to our sponsor, Shop Marketing Pros. They are the only marketing company I recommend, and they handle all of the marketing for my own shop as well. If you’re serious about growth, you need strategies that actually work: better websites, higher Google rankings, and ads that bring real customers through your doors.
Visit ShopMarketingPros.com/chris to partner with a team that understands your business. Because every great shop deserves marketing that’s just as great.
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 episode 202 of "The Weekly Blitz," Coach Chris Cotton takes a deep dive into the financial performance of auto repair shops, offering listeners a comprehensive analysis based on insights from the January edition of Ratchet & Wrench magazine. Throughout the episode, Coach Chris emphasizes the critical importance of tracking key performance indicators (KPIs) such as annual revenue, gross profit margins, and net profit margins. These metrics are essential for shop owners who aim to understand and enhance their business's financial health.
Coach Chris shares compelling survey statistics that reveal significant revenue growth within the auto repair industry over the past 15 years. This growth underscores the dynamic nature of the industry and the opportunities available for shop owners who are proactive in managing their finances. He highlights the necessity for shop owners to focus on improving their financial metrics, as doing so can lead to increased profitability and long-term success.
In addition to discussing financial performance, the episode also promotes Shop Marketing Pros, a specialized marketing company dedicated to serving auto repair shops. Shop Marketing Pros offers tailored marketing solutions designed to help shop owners attract more customers and build a strong brand presence in their local markets.
Listeners of this episode will gain valuable insights into the financial aspects of running an auto repair shop and learn strategies to boost their business's performance. Coach Chris's expert advice, combined with the resources provided by Shop Marketing Pros, equips shop owners with the tools they need to thrive in a competitive industry.
Introduction to the Episode (00:00:08)
Coach Chris Cotton introduces the podcast and its purpose to supercharge auto repair businesses.
Overview of Ratchet & Wrench Magazine (00:01:04)
Discussion on insights from the January edition of Ratchet & Wrench magazine regarding shop performance.
15-Year Industry Comparison (00:02:15)
Chris highlights changes in annual revenue and profit margins in the auto repair industry over 15 years.
Importance of Tracking KPIs (00:03:15)
Emphasis on the significance of key performance indicators for making informed financial decisions.
KPI Awareness Among Shop Owners (00:04:20)
Chris shares his experience teaching shop owners about KPIs, revealing a lack of awareness.
Current Revenue Statistics (00:05:20)
Over 50% of surveyed shops now report annual revenues exceeding $1 million, a significant increase from 15 years ago.
Gross Profit Margin Insights (00:06:18)
Discussion on gross profit margins, with over 50% of shops reporting margins above 50%.
Revenue Breakdown of Surveyed Shops (00:07:17)
Detailed statistics on revenue ranges among surveyed shops, highlighting growth trends.
Industry Consolidation Factors (00:09:35)
Analysis of industry consolidation and growth potential as more shops exceed $25 million in revenue.
Gross Profit Margin Categories (00:10:49)
Breakdown of gross profit margins among surveyed shops, with insights on profitability levels.
Net Profit Margin Overview (00:12:59)
Discussion on net profit margins, noting a concerning percentage of shops not generating profit.
Encouragement for Improvement (00:14:07)
Chris encourages shop owners to make small tweaks for improved profitability and performance.
Tracking and Measuring KPIs (00:16:12)
Final thoughts on the importance of tracking KPIs and using data to drive business improvements.
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
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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
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.
I’d like to give another shoutout to our sponsor, Shop Marketing Pros. They are the only marketing company I recommend, and they handle all of the marketing for my own shop as well. If you’re serious about growth, you need strategies that actually work: better websites, higher Google rankings, and ads that bring real customers through your doors.
Visit ShopMarketingPros.com/chris to partner with a team that understands your business. Because every great shop deserves marketing that’s just as great.
In this insightful podcast episode, Coach Chris Cotton delves into the evolving dynamics of auto repair shops by exploring the transition of technicians into service advisor roles. Initially harboring skepticism about this shift, Chris has become a strong advocate, recognizing the distinct advantages that technicians offer when they step into advisory positions. He emphasizes that their deep technical knowledge and adept problem-solving abilities can significantly enhance the customer experience.
Chris underscores the critical role of comprehensive training and mentorship programs in equipping technicians with the necessary communication and interpersonal skills required for their new roles. He acknowledges common concerns, such as the potential depletion of technical talent on the shop floor and the financial implications of such transitions. However, he presents a compelling argument that elevating technicians to service advisor roles can lead to increased customer trust, improved shop efficiency, and ultimately, higher revenue.
The episode, sponsored by Shop Marketing Pros, serves as a call to action for shop owners to prioritize the growth and development of their employees. By investing in their workforce, shop owners can cultivate a more knowledgeable and versatile team, capable of driving the business forward in a competitive market. Chris's insights provide a roadmap for successfully navigating this transition, ensuring that both the shop and its employees thrive.
Introduction to the Episode (00:00:19) Changing Perspectives on Technicians as Advisors (00:01:30) The Role of Technicians in Service (00:02:53) Personal Experience with Technicians (00:03:53) Staffing Challenges in Auto Repair (00:06:10) Understanding the Service Advisor Role (00:08:31) Why Technicians Make Great Advisors (00:09:41) Concerns About Transitioning Technicians (00:12:05) Training and Support for Technicians (00:16:46) Business Case for Promoting Technicians (00:17:42) Future Planning for Service Advisors (00:18:50) Recap and Call to Action (00:19:56)
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
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By marxautocenter
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By carmcapriotto
Thanks to our partners, NAPA TRACS and Promotive
Welcome to another episode of Business by the Numbers, hosted by Hunt Demarest, CPA, with Paar Melis & Associates. This week, we're diving into the pros and cons of leasing versus buying vehicles and equipment, covering critical tax implications and cash flow considerations. Whether you're eyeing a new luxury SUV or financing essential shop equipment, this episode breaks down the factors that influence your financial decisions.
Key Points:
Leasing vs. Buying: Understand the key differences, from cash flow management to tax deductions, when deciding whether to lease or purchase vehicles or equipment. Tax Implications: Learn how vehicle weight (like the 6,000-pound gross vehicle weight rule) affects first-year deductions. Leasing Equipment: Discover why leases dominate the automotive equipment industry and how they’re treated for tax purposes. Cash Flow Management: Explore how financing options impact cash flow, both short and long-term. Real-Life Scenarios: Gain insights from real-world examples, like a $3,000 savings on a BMW purchase using dealership financing incentives.
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]
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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Episode 200 - Balancing Customer Service & Profitability in Auto Repair With Rick White & Mike HimesBy Changing The Industry
Episode 200 - Balancing Customer Service & Profitability in Auto Repair With Rick White & Mike Himes
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