Marketing: The Most Costly Mistakes Shop Owners Make
If there is one thing most shop owners have in common, it’s that they have big hearts. They typically start their careers as technicians, and, as soon as they have their own shops, they want to help as many people as they can. To achieve this goal, they network through their family and friends and do everything in their power to get the word out into their communities about their shop. And then the inevitable happens: they wake up one morning and decide it’s finally time to advertise.
Buying And Selling: A New Generation Of Buyers
“As long as I can remember, ever since I was a kid, I always wanted to be my own boss,” was the remark made by new business owner Dallas Griswold when asked what had made him decide to buy his own business. Nothing can better define the entrepreneurial spirit than that simple response, which really tells the whole story.
Value Of A Business Plan
Business plans are for start-ups, right? Why would an established business need one? The fact is, the questions you have to answer as a start-up get forgotten in the daily hubbub of running a business. A little time spent asking some basic questions can trigger new opportunities, greater freedom or both.
The Most Powerful Force In Auto Repair Marketing
For an industry that was once dominated by males, I’m pleased to have watched us evolve to a point where today we have female technicians, service advisers, managers and shop owners who are superstars in every regard. Without question, there are many powerful ladies throughout our industry who are role models for all of us.
Boost Your Shop’s Visibility With These Marketing Techniques
In 1995, we moved our shop from the corner of a busy intersection to a sunken strip mall a half-block from the main road. We went from 100,000 cars driving by every day to 1,000 — maybe 1,500 on a great day. We went from a locked-in customer base to building a customer base from scratch.
Online Marketing Strategies To Attract And Retain Customers
The Internet has forever changed the way consumers shop. Today, competitors are always just a click, text or email away. In this new age, simply having an online presence isn’t enough. Shop owners who want to succeed must develop a comprehensive online marketing strategy designed to both attract and retain customers.
Do You Know Your Shop’s Break-Even Point?
Business owners need to know their monthly break-even point to help them project business profitability each month. The break-even point is very easy to calculate and will take seconds if you have an accurate profit and loss statement.
IRS ‘Dirty Dozen’ Tax Scams
Compiled annually by the IRS, the “Dirty Dozen” is a list of common scams taxpayers may encounter. While many of these scams peak during the tax filing season, they may be encountered at any time during the year.
Google: Changing The Rules
In a world where more than 80 percent of prospective consumers will see your ad, but still look you up online before calling or visiting your repair shop or tire dealership, an ad placement in a local Google search is critical.
Building A Media Plan
When it comes to advertising, strategies are endless, mediums are constantly changing and advice is often conflicting. Doing something is better than nothing, but funneling a shop’s dollars into an ineffective ad campaign is a mistake no one wants to repeat.
Managing Cash Flow
Are you paper rich but cash poor? A business can be profitable on paper, but bankrupt in real life – if you don’t manage cash flow effectively. Without cash, a repair shop will inevitably shut down, regardless of how profitable it looks on paper. You can be “rich” in accounts receivable and inventory, but cash poor if these assets are not convertible into cash to meet current obligations. In fact, cash is the only asset a company needs to stay in business.
The Million Dollar Phone Call
From the time your advisors first pick up the phone, all the way through your service recommendations, there is one thing that is happening over and over again: The sales process.