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Joe Marconi

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Everything posted by Joe Marconi

  1. Joe Marconi
    I think that many people are paying attention to local businesses now more than ever. But, they are not reacting. So many are hunkered down. And we understand that. I would encourage every shop to continue to send "Feel Good" promotions and message to your local community. Down play any hard sales, increase your exposure through all the media you use to tell everyone Your Story - "We are here to help. Auto-related or not. We are part of the community!" People will remember WHO you and your culture long after the crisis is over.
  2. Joe Marconi
    Ha! This is common in my neck of the woods!
  3. Joe Marconi
    We have not gotten our PPP money yet. It is frustrating that so many businesses are suffering. While I am believe that businesses need help due to the crisis, we need to look beyond this crisis and rebuild our businesses. We need to make the adjustments to payroll, trim expenses where we can, and undertand our new KPI's. If business remains soft for the near future, we need to undertand what we need to do to remain in business, while undertanding the long term affects of the economy. My advice is to restructure your business to meet the current state of sales. Utilize the financial help with the understanding that any long term success will be deterimined how you as the shop owner adjusts your business to your sales. Keep payroll and expenses in line, and prosper.
  4. Joe Marconi
    Thanks Frank! I appreciate the kind words. I will keep giving everyone updates on the cirisis from New York. If a guy from New York can make it through this, we all can! America Together!
  5. Joe Marconi
    New York Governor announced yesterday that the stay-home order will remain in effect until May 15th. With so many consumers not driving and so many businesses closed; sales will be a struggle for the next 4 weeks or more. Many Auto Shops across the country will be in the same boat. Ok, that's the bad news. The good news is that you are a shop owner, and no stranger to making tough decisions and finding solutions to the most complex problems. I know this is different, but truth is we are all learning together, and we will beat this. With that said, you will be called upon to remove the emotions from the situation and make the decisions that are best for your employees, family and for the business. You will need to look at your average sales and projected near-future sales and adjust your payroll accordingly. I hesitated for a few weeks, but then made the tough decision to cut staff to get my payroll in line with current sales. It had to be done. You will also need to look at each line on your Profit/Loss statement and see where you can shave any expenses. Even a few percentage points can end up saving a lot of money at the end of the month. Lastly, have daily meetings and let your remaining staff know what you are doing. Let them know that the number 1 goal is the health and welfare of everyone. Number 2: Ensure the business thrives, not just survives. You are tough....now go make those tough decisions!
  6. Joe Marconi
    I am on my 5th round of more PPP paper with my bank. You really need to speak to your lender for all the details. As it's written right now, you have to use 75% of the loan for payroll and hire back to pre-crisis level before June 30th. I am not an expert on this, so get the right information. Your concerns are valid; you don't want to incur more debt after this is all over.
  7. Joe Marconi
    Topauto, you are on the right track. Be very carful as we move forward with all this help. Speak to your trusted advisors and don't get into a situation where you pile on debt after this is all over. For some shops, that were forced to close, you will need to seek help. But again, be careful. Debt has a way of biting you back.
  8. Joe Marconi
    Thank you for your kind words JimO! We need to remain strong and positive during this crisis, just as we, as a society, have done in the past. Shop owners are tough. Look what we do when things are normal??? We are in the trenches each day, fighting the battles we were born into. Let's pray we stay healthy and when this is over, we will have learned so much and be better off than before!
  9. Joe Marconi
    By now, the dust is settling a bit with regard to the COVID-19 crisis, and we are well into making the adjustments needed to save our shops. There are many shops around the country that have not been affected, and there are many that have been devasted economically. Being from New York, I can tell you that the last 8 weeks have been tough. With sales down more than 50%, I had to make a lot of tough decisions. The good news (so far), my family and myself are all healthy, and none of my employees have contracted the dreaded coronavirus. I pray each night that it stays this way. Now, I look beyond the virus. I need to rethink my goals, my financial expectations and feel confident in the fact that we will beat this, and believe that we will be better and stronger when this is all over. I know many of you are seeking help from the SBA, negotiated terms with your vendors, have worked our deferments with mortgages, loans and insurance payments. And I know that many of you have made the needed adjustments to payroll and staffing. All these things are essential, but the most important factor for you to survive and thrive will be how you handle yourself and your leadership in the coming weeks and months. You must believe in yourself. Trust you gut and move forward. Remain positive. Shop owners are the most resilient business owners on this planet. Don’t forget that. Move forward starting today and look beyond the virus!
  10. Joe Marconi
    There is no easy answer to the question about unemployment and the additional federal unemployment. Human nature kicks in as those that have not lost their jobs feel that it is unfair. I have communicated to all my techs the reality of what is going on. We have seen sales drop more than 60%. I had to make a choice, and the employees that I selected to lay off were those that I felt were the ones that were most expendable. The employees that I did not lay off are the ones that show ethics, leadership and high morale. I am correct with my plan and decision? Who the hell knows. I am learning on the fly like all of us.
  11. Joe Marconi
    I tend to agree, especially in the hard hit areas like New York, where I am from. The big difference from the 1918 pandemic is technology. We can do more today and much greater speed. But, you are right, this crisis just can't turn itself off. Let's be prepared for a bumpy ride and hope it's not as bad as we anticipate.
  12. Joe Marconi
    Great points JimO! No doubt your story is similar to so many other shops. Being so close to NYC, makes it different too. Keep us updated and stay safe!
  13. Joe Marconi
    Frank, in times of crisis, there are no wrong or right decisions. You have been on the front lines as an automotive shop owner for a long time. You should be proud of who you are and what you have done. No one can tell you what is best for you and your family. If this is your decision, hold you head up high and enjoy life with the knowledge that you gave it your all for all of us to make the auto industry better!
  14. Joe Marconi
    First, let me clarify one thing: I AM NOT THE EXPERT. But there are things about the PPP that concern me. Such as this quote fron the SBA: "Forgeven amounts will be considerded income for federal tax purposes." So, if you get a forgiven loan in the amount of 100,000- that will be added as income? And, the fact that we need to rehire to full staff by June 30, 2020. So, in an area like mine where we don't expect business to return for 6 months or longer, I need to rehire to full staff, with 60% of sales down, use the SBA PPP to make payroll???? This is insane economics. I do not want to rain on anyone's parade here. Being in NY, I got hit early and got hit hard. We are going on more than 8 weeks with little to no business. I too need financial help. Look, the point is take it slow and get all the information from a pro. This is what I need to do too. Please get the advise from your banker, your attorney, financial advisor and your accoutant. The only true way out of this is for business to return to normal, through sales and revenue.
  15. Joe Marconi
    I agree Frank! Nothing matters until people can move about and spend their money. We need people going to resturants, to the deli, to the hardware store and to us. This nationwide shut down and people ordered to stay home cannot be fixed by throwing money at it. Frank, you know me a long time. I am the most positive person around. I am not going to fool myself or anyone, brace yourself and plan to rebuild your businesss. YOU and Me and every other shop owner will need to accept this. The alternative is to close.
  16. Joe Marconi
    Be careful. Please read the fine print. There are conditions. Speak with your bank advisor and/or accountant.
  17. Joe Marconi
    Frank, at 65 years old, I feel the same way. You are not alone. Most shops, and many small businesses, cannot continue without financial help. However, my fear is that it may not be enough, since the only way out of this is through sales, not a bail out. And while a portion of the PPP loan will be forgiven, there are conditions to be met. The amount forgiven is reduced based on failure to maintain the average number of full time equivilant employees by June 30, 2020. So, does that mean we need to hire back to full staff, even though there is no business???? This would lead to using the money for payroll, but little help with other expenses. No Customers + No Sales = No Revenue. 0+0=0 Another question for the SBA and the Feds: How does the PPP Loan help those businesses forced to close or must close due to no business? Again, rehire staff? For what purpose? These are tough times, and while the Feds and the SBA want to help, at this point I really don't know the best way forward. One thing is for sure: No customers means no sales and that means we cannot pay our bills. You will see many businesses throw in the towel, and sadly that may be best for them. Now more than ever, make each decision carefully. Communicate and be honest with the staff. Face the brutal facts of the situation, and make decisions based on the long term future. For many of us, it will be like starting over. And that's ok. Nothing is more important than life itself. Let's keep that number one. The rest, will work it's way out. I feel for you Frank, and for all other shop owners in this position. I am in New York, not far from the epicenter, and it's not pretty. Stay safe everyone. Hug your kids and your family. Facetime friends and family and Pray. We are all in this togther, and we will prevail!
  18. Joe Marconi
    One of the toughest decisions we face with the COVID 19 crisis is how much staff we need. When do we impose layoffs? I have never in 40 years had to lay off an employee due to any economic crisis. But this time it's different. Half my staff is layed off, primarily becuase sales have dropped more than half. To paraphrase Abraham Lincoln: "It's better to cut a limb to save the body; never sacrifice the body to save a limb." Believe me, it's tough, but we all need to make the decisions that we save your company.
  19. Joe Marconi
    Thanks Alex. Shop owners, find out all you can about the SBA and other programs. Conact your banker and your accoutant. There is help for small business. To be honest, it may be a bandaid for a much larger looming problem. But, you need to do it.
  20. Joe Marconi
    I too am concerned that things we consider normal may not return for some time. There is also too much confusion comimg from all sources, including the SBA, the news sources and the government. Here is one example: The Payrolll Protetion Program from the SBA has as its goal to get businesses to keep thier empolyees working? Many businesses are forced to closed, considered non-essential. And the ones that are open, like mine, have seen a 50% or more drop in revenue. That means we cannot pay our bills. So to think that any money we do get would be to keep employees on the payroll is not practical. I am not painting a bleak short term future, just facing the reality of the crisis. We need to see the virus contained, the curve flattened and then decline. We also need the people in this country to go back to work for things to begin to get back to normal. I see that months away. I hope I am wrong, I really do.
  21. Joe Marconi
    Yes, we need to stay on top of all the programs coming out, SBA and any state and local help. Be careful, things are changing daily. Talk you all your advisors.
  22. Joe Marconi
    What we do now, matters when this is over. Thank you!
  23. Joe Marconi
    Yes Frank. I agree. I have been in business 40 years. Never before have I asked for helped or expected it. This is different. When Churches are closed, you know these are different times. Stay safe.
  24. Joe Marconi
    Contact your Accountant and bank. FInd out about the Payroll Protection Program and the SBA Disaster Relief Fund.
  25. Joe Marconi
    Whatever your normal advertising and marketing strategy is, now is the time to tone down call to action advertising and promotions and communicate your brand to your community. In times of crisis, it’s crucial that your customers and community know what you stand for and there to help if at all possible. Contact your customers by phone, email, text, etc. Not to sell them anything, but to ask if they are ok. Let them know that you are thinking about them. Connect with them emotionally, like a friend or family member would. For many shops across this great nation, there will be significant sales drops. With the new financial package, there will be help on the way. Contact your accountant, payroll company, financial advisor, bank rep and find out about the help that is coming your way. We will get through this together.

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