Financial Management for the Auto Repair Business, presented by Vin Waterhouse

Description

This will be hands-on and attendees will do calculations of their shop's performance and compare their results to targets and results of the top 25% most profitable shops.

We start with monthly net profit goal and specific steps required to achieve it.

Improved vehicle quality and the growth of electronics means shops sell fewer parts per driven mile. Shop owners have evolved to make the majority of their profit in labor like accountants, carpenters, electricians, lawyers, etc. This change requires unshakable attention to detail as you navigate the transition from parts profit dependency to labor G.P. paying all the bills and parts profit as add-on. Dollar-for-dollar the profit in labor is much higher than in parts.

The top 25% of most profitable shops earn almost 5 times the net profit as average shops.

This class demonstrates what they do differently and how they do it. Invest the time to be with other shop owners and discuss proven practices that take your shop to the next level. Receive a monthly budget for every category of your business and track your net profit daily with ease.

Seize Control!

Make your shop operate like a "franchise" with procedures for common repairs and business practices. Use proven systems for your shop and manage them. Once you fix your business, fixing vehicles becomes fun again with less stress. Manage your systems, take a vacation, relax and not have to call your shop to put out fires.

Labor Intensive & Diagnostic Labor Rates...

allow you to sell parts at cost because the parts profit is built into the labor by using a unique formula. The formula allows you to make your full profit in labor like other professions. Now you can match internet parts pricing and make your full profit.

Office Efficiency

Your business is as profitable as your front office is efficient. Do your techs work on vehicles 90% of the time when you have the work? Do you get paid for every hour your techs work on vehicles? Most shops don't and there is an easy fix to that.

Factory Efficiency TM

A 5% improvement in shop efficiency adds more than $1,000 month per technician to your bottom line without changing prices. Learn where to improve and how to do it.

This New & Restructured Virtual Session Limited to 15 shops!