Carmelo Rios was still relatively new to Lincoln Square Service in Chicago, IL, when the previous owner decided to retire and offered Rios the opportunity of his lifetime. “I came in as a manager, and five weeks later I became a partner,” says Rios.
As part of your business plan, you need to determine who you’re “A” customers are and do some demographic research to determine where they live and how many of them there are in a given five-mile radius.
Chris Alexander was hired in 1996 as a sales assistant selling PEAK antifreeze. In 1998, Alexander moved into the commercial side of the business, developing the southeast and southwest territories. He earned several promotions as a result of his strong work ethic and selling expertise before assuming his current position in 2007.
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, monthly, quarterly and annual basis.
“If we weren’t working on Hondas, we probably wouldn’t be in the auto repair business,” affirms Jeff Baker, co-owner of Formula H Motorworks in Middletown, NY. In referencing both his and co-owner brother Brian’s love of all things Honda, Jeff also reinforces the duo’s specialization in and commitment to the Honda/Acura brands.
Non-compete agreements are a great way for business owners to protect an employer’s reasonable competitive business interests. These agreements can also be utilized to limit post-employment competition provided that the agreement is reasonable in terms of geographic limitations, duration and type of activity restrained.
Although it’s been proven to be far less expensive for a company to keep existing customers than gain new ones, attracting new business remains a very important part of growing your business.
In the September/October issue of Shop Owner, we introduced the “new” art of advertising in a modern market, and presented strategies automotive repair shop owners can use to corner their market, maintain loyal customers, and expand their shops’ value and customer base.
If you got a chance to attend the SEMA and AAPEX shows in November, you saw probably tens of millions of dollars’ worth of cars, products and equipment. It was an incredibly vast display of all things automotive. But how does all this stuff get out of the showroom and onto the floor of a typical repair shop?
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 informed shop owner and may even save you a lot of money.
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 and the same projects won’t cut it today.
In this tough economy, every business could use a break. Here is a list of available tax credits to businesses who hire employees fitting in the following categories.