The big issue here is making sure there’s a healthy return on your investment for the equipment purchased. I’m attaching a simple Excel spreadsheet that will break down the information for you showing when you break even with the machine and then how much profit you’ll make over the life of the machine.
After you know you’re profitable with the…[Read more]
You’ve received some great advice here that you should definitely heed. I have some questions to ask so I better understand your position.
- What’s driving your decision to purchase an auto repair facility?
- What’s been your work experience up to this point?
- Is the owner of the business the current advisor?
- Is the owner still…
This is a great question and one that you’ll find there are as many different pay plans out there as there are shops. The first thing you need is a specific job description that clearly outlines his duties and responsibilities. That will help you figure out what he has control over. Then, when you’re thinking about his compensation, the…[Read more]
Rick_White replied to the topic Who is this Secret Santa for Independent Auto Repair Shops? in the forum Everything Else 10 months ago
I personally would insist on using only the recommended oil when performing any service. Looking at your form, I’d recommend adding what the recommended oil should be and what oil the customer is requesting be used to better “protect” you. The reason for the quotes is I still don’t think this document will exempt you from a…[Read more]
UPDATE: We’ve had a number of people request access to the webinar I offered in an earlier post and I’m happy to report that we’ll be offering this webinar FREE on Friday, November 3, 2017 at 12 PM EDT.
You can sign up for the webinar by clicking here.
If you have any questions or comments regarding the content, I’m happy to speak with you…[Read more]
Carhospital is absolutely correct. There are two types of implied warranties that are in play in every state of this country. They are an Implied Warranty of Merchantability and Implied Warranty of Fitness. I go over both of these warranties in the webinar I offered to share with the group in an earlier post.
The reality of the situation is we…[Read more]
I recently did a webinar that covers installing customer supplied parts and the different issues associated with this topic including how to present your decision to your customer that doesn’t involve a steak and a restaurant, and if you’re going to install customer supplied parts, what to do to be successful. I’m happy to share with you if you’d…[Read more]
If you want to email me at email@example.com, I have a form I can go over with you and send you. It takes a bit of explanation so let me know when you can talk as well and I’m happy to share it with you.
Bernard,I agree with Tom. The reason shops break out tire sales from other part sales is because of the different profit margins associated with tires. By breaking out the tire sales and cost from your other part sales and cost, you’re able to see what your actual profit margin is on each and adjust accordingly against your profit targets. I also…[Read more]
Jeff,Before anyone can really answer your question, you need to provide more information. What’s your ratio of new customers to existing per month? If you deal with a lot of new customers, your average sales will be lower. What kind of vehicles are you working on now? What percentage of your sales is maintenance? Once you can give more…[Read more]
Larry,How did you handle marketing out of QuickBooks for service dues and declined repairs? Also how do you handle the parts limitation QuickBooks has? I have heard that these are limitation within QuickBooks and would love to see how you handle them. Thanks so much!Rick
You can find out more about the 5 S’s here: http://en.wikipedia.org/wiki/5S_(methodology)
Rick_White replied to the topic How to manage cars waiting for parts cars waiting for payment etc in the forum Everything Else 4 years, 8 months ago
I think you have two different issues here. The first is an abandoned vehicle and as Tom stated, dealing with this issue varies from state to state and I recommend you contact your local DMV office to find the steps you need to deal with this.The second vehicle you are dealing with seems to be an issue with your diagnostic fees. Is it your…[Read more]
Two books I have read multiple times are “The Go-Giver” by Bob Burg and John David Mann and “The Energy Bus” by Jon Gordon. Both books are parables and quick reads with some very powerful messages. If you would like some more titles, let me know.
Have a FUN & PROFITABLE day!