The Triple Threat: Mastering Three Labor Rates [RR 1008]
Dave Schedin discusses the three core types of labor—preventative maintenance, diagnostics, and repair—and their efficiencies and volume requirements, as well as the critical importance of creating preventative maintenance programs. Learn about the significance of effective customer communication and the value proposition of maintenance services.
remarkableresults.biz/e1008
Mastering Systems, Operations, and Procedures [RR 966]
Corey Evaldi and Dave Justice provide a wealth of insights into the importance of systems, operations, and procedures in the automotive industry. By focusing on effective communication, continuous education, incentivizing employees, and building strong client relationships, automotive professionals can drive success in their businesses. The episode also highlights servicing electric and hybrid vehicles, and the value of peer learning and industry networking.
remarkableresults.biz/e966
Effective Language Shift For Shop Owners: From Labor Rate to Service Rate [RR 964]
Murray Voth, owner of RPM Training, discusses the importance of language in the automotive industry, advocating for a shift from “labor rate” to “service rate” to better reflect the value provided. He also dives into financial strategies for shops, emphasizing the significance of setting the right service rate and understanding gross profit to ensure business profitability.
remarkableresults.biz/e964
Auto Allies: Forging an Independent Networking Group [THA 382]
The power of unity and shared purpose.
Automotive industry professionals from Buffalo, New York, discuss their independent networking group’s evolution and impact. They emphasize the importance of continuous learning, support, and the benefits of a collective approach to improving their businesses and the industry. The group’s resilience during the COVID-19 pandemic and its commitment to education and community involvement are also highlighted.
remarkableresults.biz/a382
Unpacking the Dynamics of Consumer Choice and Pricing [RR 924]
The Value Paradox: We all want top-notch service without the hefty price tag. However, quality comes at a cost. Andy Bizub explores this conundrum and how it mirrors the choices we make. Consumers often face a choice between the cheapest and the luxurious with little interest in the middle ground. This observation sparked a conversation about how the automotive industry can apply this pricing strategy to their businesses. Remember, it’s not just about the price; it’s about the value and experience you provide.
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Multiple Labor Rates [THA 364]
Explore: Strategies for pricing diagnostics and labor based on vehicle type, customer segment, and job complexity.
Discover: The importance of understanding financial metrics, collaborating with service advisors and technicians, and providing exceptional customer experiences to justify premium labor rates.
From Dealership to Mobile Mechanic [RR 920]
Explore the challenges and benefits of mobile mechanics, Jesse’s future ambitions for a physical shop, and the value of mentorship in the automotive industry.
Jesse explains his transition to full-time mobile work, his marketing strategies, and customer service approach. He also touches on the logistics of mobile operations, from tools to working in various locations.
remarkableresults.biz/e920
Coaches Lab: When Will Shops Stop Doing Work That They Don’t Get Paid For? [THA 363]
It’s time to find the hidden costs of ‘busyness’ in auto repair shops. It’s not just about the work you do; it’s about the work you’re actually getting paid for. Measuring technician productivity is crucial – because if you’re not measuring it, you can’t manage it. It’s a wake-up call for shops everywhere to stop leaving money on the table.
remarkableresults.biz/a363
Labor Rate Tracker Update: A Valuable Tool [RR 914]
Tom Ham discusses the labor rate tracker tool, which can be found on the Automotive Management Network. The conversation includes the variability of labor rates among different types of automotive shops and across states and the influence of location and shop type on rates. Tom shares that the tracker has grown to 3,000 shops reporting their rates, providing a more comprehensive view of the market. The episode also covers the importance of having a labor rate that reflects a shop’s quality and customer trust. Find out why the labor rate tracker is a valuable tool for both shop owners and industry coaches to gauge market rates and inform business strategies.
remarkableresults.biz/e914
Technician Productivity Redefined [AW 189]
Joe Marconi discusses the importance of team collaboration, efficiency, and continuous training in the automotive industry. He highlights the need for effective leadership, a positive company culture, and sound systems and procedures to guide technicians and improve productivity. The conversation also covers the significance of accurate estimating and effective labor rates, the rising costs in various industries, and the importance of a positive and growth mindset in business.
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OK, I Raised My Labor Rate: Now What?! [THA 355]
Raising labor rates is not just about increasing prices. It’s about finding more value in the industry and positioning ourselves as professionals.
Join our panel as they highlight the need for understanding the concept of effective labor rate, ensuring services are charged appropriately, viewing the business as a professional entity, providing a positive customer experience and addressing core business problems before raising labor rates. Our panelists encourage shop owners to take a comprehensive approach to their business strategy, considering all factors and not just focusing on raising labor rates.
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Build Your Labor Rate From the Ground Up: Part 2 [THA 346]
Part 2 of our labor rate discussion in the automotive aftermarket industry. Our panel emphasizes the importance of setting labor rates based on the shop’s own expenses and profitability, rather than comparing them to competitors. They also stress the need for regular labor rate increases and educating staff about the financial aspects of running a shop. They address fear and mindset issues that can affect labor rates and overall success. The episode provides valuable insights and advice for shop owners in effectively setting and managing their labor rates.
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The Art and Science of Dispatching [RR 849]
Dan Taylor and Reggie Stewart to discuss the art of dispatch in the automotive repair industry. They emphasize the importance of efficiently dispatching and scheduling jobs, using the team’s strengths and weaknesses, the need for accountability, daily tracking of labor inventory to ensure goals are met, and the challenge of accommodating walk-in customers while maintaining productivity. They stress that dispatching is crucial to the business’s success and suggest creating a simulator or role-playing exercise to teach dispatching effectively.
remarkableresults.biz/e849
Passing the Torch: A Father-Son Journey of Strengths and Learning [RR 847]
Recorded Live at the TST Big Event 2023 with Andrew and Peter Knudsen, father and son duo of Coventry Motors in Huntington Station, Long Island. They discuss their background in the car industry, their decision to start their own business, the types of cars they work on, and their succession plan. They also discuss the challenges of running a small business, including labor rates and finding new talent. The conversation provides insights into the rewards and challenges of running a successful auto repair business and the importance of continuous learning and adapting to changes in the industry.
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Survey Says: Stress Level, Why Reject a Technician Application, Health Insurance and More! [AW 147]
Profit Does Not Equal Cash in the Bank – Hunt Demarest [RR 817]
Recorded Live at the Transformers Summit with Aftermarket Radio Network host, Hunt Demarest, CPA at Paar Mellis and Associates and host of the Business by the Numbers Podcast. Hunt’s firm specializes in automotive repair clients and he gives us an inside scoop on common new client questions and concerns as well as some behind the scenes about his podcast!
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Nationwide Labor Rate Tracker – Tom Ham [RR 809]
Alignments! Rates, Numbers and ROI [THA 303]
Take a deeper dive into alignments, the numbers being it, and the ROI. Multi-shop owner Joe Hanson has invested in the Hunter Quick Check Touchless Alignment equipment for his one shop, Tom Sciortino brings statistics on the effect alignments have on ADAS, and Jim Fleischman discusses the importance of asking your customers about their driving habits.
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Demeny Pollitt Lists Her Labor Rates and Menu Prices On Website [AW 130]
A Plan To Solve The Technician Shortage [RR 786]
Unless you’ve been living under a rock, the technician shortage is the hottest topic and challenge in our industry. My guest Cecil Bullard from The Institute, has a plan to solve the technician shortage. It involves a $20 increase in your labor rate and how that money gets distributed. Sounds too good to be true? Good!
remarkableresults.biz/e786
Climbing Out Of Despair [THA 296]
In today’s episode, my panel discusses hitting rock bottom and being able to climb out. How do you financially recover from being in debt? How do you get through divorce when your business is failing? Why aren’t more owners looking at themselves in the mirror and realizing they are the problem and the solution? Keep listening to find out.
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Flat Rate VS Salary Debate [THA 289]
Are you doing flat rate, salary, or a hybrid model? What are the pros and cons of all three? My panel brings light to this hot topic from different perspectives. The consensus from the group is there is no cookie-cutter model on pay plans you must factor in your culture and your team.
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The Lowest Price Shop Is Not Your Competitor – Reggie Stewart [RR 748]
What do you do when a disgruntled customer wants to know why your shop is more expensive than the one down the road? Are you educating customers on the value of your services? Do you feel like you have to defend your profitable business model? Does the shop down the road, which has the crazy low price, realize their business won’t be worth it’s value when it’s time to sell?
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Build Your Labor Rate From The Ground Up [THA 276]
How much do you value your time? Your employee’s time? Are you making your decision on your labor rate based on data? My expert panel breaks down a mathematical and strategic way to understand the labor rate that delivers your profit goal. To view the charts and presentations my guests have prepared, make sure you head to my carm capriotto youtube channel or find the link on the show notes. Once you see the math your decision to set a profitable labor rate will be smarter and easier.
remarkableresults.biz/a276
Paying Attention to Inflation [THA 269]
We’ve all heard inflation is up 8%, as of this broadcast, but when you walk through the grocery stores and sit at a restaurant, it sure seems like it’s a lot higher … don’t you agree? As prices continue to jump, what are we doing as an industry to adjust? And why are so many shop owners worried to raise their labor rates? My panel includes 2 shop owners and an auto shop bookkeeper with a wide-open discussion about labor rates, parts pricing, and even employee retention in the age of rampant inflation.
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