A recent report from Lang Marketing Resources Inc. reported that in spite of the economic climate, service stations, independent garages, repair specialists and foreign car specialists generated about 2.6 billion more in service revenue in the U.S. car and light truck aftermarket in 2011 vs. 2010. This revenue increase is...
When I was still in the auto repair business, I learned an invaluable secret from a remarkable man named Sol Price. For those of you not familiar with the name, he was the founder of Price Club; the company known today as Costco. Sol was able to take himself out...
As every shop owner knows, both money-making opportunities and unexpected situations present themselves on a regular basis. A deal to buy a new sign for your shop, a chance to buy inventory at a discount or forging ahead with an equipment upgrade are all ways to grow and develop your...
Let's talk about the lifetime value of a customer and what that value means to you. Lifetime value has many meanings and has been analyzed by folks who are a whole lot smarter than me.
If you are falling short of your sales goals, before you start blaming your service advisors, you need to make sure that your technicians are providing them with the adequate recommendations.
Financial subjects are dry and usually at the bottom of the shop owner's list of desirable activities, but, typically, they are the number one reason for poor performance or failure.
From my experience, cars and companies have a lot in common when it comes to keeping them running smoothly and achieving top performance. The owner's manual for any business is the strategic plan that has been developed. The gauges are the financial reports that are generated on a daily, weekly,...
The statement you receive from your credit card processing company every month or quarter contains a lot of complex information. There are words and numbers everywhere that may or may not mean what you think. Understanding your statement, what you are being charged and why is critical to being an...
Some business owners and managers continue to be stuck in the past. They fail to realize by squeezing out the last drop of productivity, cutting their overhead to the bare bones, trying to cut costs, working harder, and continuing to do business the same way with the same old customers...
