European Auto Tech Turns A Supplier Benefit Into An Effective Customer Loyalty Tool
Repairing today’s sophisticated cars can be expensive. John Ranney, owner of European Auto Tech, a seven-bay automotive repair garage in Tucson, AZ, understands that. Located near the University of Arizona, he sees how financial pressures affect his business and his customers, many of whom are students and their parents.
10 Mistakes to Avoid When Selling Your Business, Part 2
The majority of challenges and frustrations experienced by sellers can be avoided with solid information about the pitfalls of selling a business in today’s market. While there are dozens of challenges to overcome, in the January/February 2013 issue the first five most common mistakes were discussed that can have drastic repercussions and cause both stress and loss of value on a business sale.
Executive Interview: Paul Johnson, Vice President, North America, Federal-Mogul Global Aftermarket
Prior to joining Federal-Mogul in 2010, Paul Johnson was general director of ACDelco. During his career with General Motors, he held positions of increasing responsibility in aftersales, product management, business development and finance. He earned a bachelor’s degree in Aeronautical and Astronautical Engineering from Purdue University and an M.B.A. from the University of Michigan.
Offer Financing Options During Tough Economic Times
At Elite we believe that all shops should have financing options available for their customers. I realize that since the collapse of the economy money has been tight, and it is now a lot harder for many people to qualify. But before you judge the success of your financing programs based on the percentage of your customers who qualify, consider that by offering 90 days same as cash, you’ll be able to promote “financing” in all your marketing programs. There’s no doubt about it: This in itself will help you bring in more customers during tough times.
Protecting Customer Information: The Safeguards Rule
The Federal Trade Commission (FTC) enacted Standards for Safeguarding Customer Information on May 23, 2003. By now, most repair shops should have implemented their information security programs and taken steps to ensure compliance with the Safeguards Rule. If you have not, we recommend taking steps to get in compliance immediately. If you have, it’s still important to periodically review and assess your program to ensure you remain in compliance.
Financial Insights from a Successful Shop Owner
As many of you know, it takes a lot more than excellent mechanical knowledge to run a successful automotive repair business. In fact, you could have the best mind in the world for vehicle service and diagnostics, but, at the end of the day, you need at least a nodding acquaintance with what it takes to turn a profit.
Taking the Mystery Out of Leasing
For the typical shop owner, the world of leasing can seem like a confusing landscape of options and costs. You may have heard conflicting information; some good, some bad, some neutral. I’m going to attempt to clear up this financial maze called leasing and suggest what to avoid and what to pay attention to.
Don’t Assume That Person is Qualified to Handle Your Social Media
There seems to be a common misconception in the business world that because “new media” involves technology, college-age people are automatically qualified to manage it. Don’t make this mistake! At the very least it could cost you wasted time and resources. Potentially, it could wreck your company’s hard-earned reputation.
Is Equipment Leasing Catching On In The Aftermarket?
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?
Five Florida Allstate/State Farm Adjusters Arrested in $5 Million Fraud Scheme
Five former insurance company claims adjusters for State Farm and Allstate were arrested in Florida last week for their roles in several auto insurance fraud schemes that relied on the cooperation of vehicle owners and collision repair shops, NBC Miami reported.