THA 210 Where the Money Goes – The $100 Lesson
How many times do you get a great idea on an exercise you can share with your team …. one that helps your people respect and understand the costs of running a business? My guest Patrick McHugh and I will show you a fun and profound exercise on what happens to a $100 transaction … exactly where the money goes. Welcome to the 210th episode of the Town Hall Academy.
It is important that your people get a chance to see your Profit and Loss Statement, but for many, it will be a very difficult learning curve. We have a very simple way to do it that will make respecting margin, costs, and net profits in a whole new way.
This exercise will change the way you and your people look at the numbers and what it takes to grow a strong and profitable business.
My guest today is Patrick McHugh from Bimmer Rescue in Richmond, VA. and we have a story for you! This episode’s key talking points are already done for you at remarkableresults.biz/a210.Listen and view episode notes
Shop Talk 9 – The Ladies Have a Lot to Say – RR 577
Three lady shop owners that will speak to marketing to women, offer their perspective on margins and cost management, how the pandemic has made important changes and how it changed the hiring process. Will you agree, take exception from their ideas or gain a new insight.
The panel: Jamie Carlson from Ervine’s Auto Repair, who was honored as the Female Shop Owner of the Year 2019 from AutoCare’s Women In Auto Care, Emily Chung
AutoNiceh in Markham, Ontario, and Rachael Wacha from City Auto Repair, Gainesville, FL.
Find the key talking points at remarkableresults.biz/e577Listen and view episode notes
Maylan Newton from ESI – Educational Seminars Institute is a business coach, trainer and industry speaker. Maylan is no stranger to the podcast having paid it forward many times. He is a much sought our speaker at industry events in the US. Find Maylan’s previous episodes HERE. “He is ‘just a car guy’ with lots…Listen and view episode notes
Cecil Bullard is President of the Institute for Automotive Business Excellence. He is a trainer and business coach in the automotive aftermarket working closely with service professionals. Previous episodes featuring or mentioning Cecil, click HERE. Institute for Automotive Business Excellence website. Talking Points: Re-thinking parts margins based on pricing transparency from online parts sellers He doesn’t like…Listen and view episode notes
Bob Greenwood, AMAM (Accredited Master Automotive Manager) is President and C.E.O. of Automotive Aftermarket E-Learning Centre Ltd. (AAEC). AAEC is a company focused on providing Business Management Resources and Development for the Independent Sector of the aftermarket industry. AAEC content and technology is recognized as part of the curriculum of the Fixed Operations Diploma and the…Listen and view episode notes
The Panel: Bill Haas, AAM, is the owner of Haas performance consulting LLC, with 40 years of experience in the automotive service and repair industry. Clients have access to Bill’s solution-based focus, expertise, unique perspectives and in-depth knowledge of the industry. Bill began his career working part-time at a full-service gasoline station in Appleton, Wisconsin.…Listen and view episode notes
David Justice has been an auto care professional for over 30 years. He grew up in the family business working for his father. At, a young age David purchased his father’s business and went on his own. Over the years David had multiple Shell Gas stations. Find David’s other episodes HERE. Cecil Bullard is President of the Institute for…Listen and view episode notes
RR 491: Warren Parr – Diagnostic & Intensive Labor Rates – Why and How I Did It
Warren is bringing a practical view of calculating your diagnostic labor rate. He is completely changing his earnings/profit structure by having a diag labor rate that is based on his real need to make the correct gross margin because diag time rarely sells parts.
He also explains his ‘intensive labor’ rate as it relates to big-ticket items. Warren Parr was on a while back talking to you about his PICO Scope Club that was RR episode 485.
I did an episode with Vin Waterhouse on this very subject. It was episode 471. It is one thing to have a lesson from a coach, but another to hear from a shop owner who has put this teaching into practical use.Listen and view episode notes
RR 471: Vin Waterhouse on Intensive Labor Rates and Financial Benchmarks
Are you aware that you are selling fewer parts? Do you understand that the hours of diagnostic work you do does not reflect the typical parts sales per hour that your financial business model has generated in the past?
So what you say. Ouch! The wrong attitude. You are bleeding to death and the math exists to prove it. You must pay attention to having an intensive or recovery labor rate. In this episode with legacy aftermarket coach and trainer, Vin Waterhouse, we get into the power and value of benchmarks and how to calculate a recovery labor rate.
If you are not happy with your net operating income (your bottom line) vs the hard work and time you spend at your business, then Vin may just help you formulate some next very important moves you need to make, so your financial strength improves.
Vin Waterhouse is President and Founder of The Waterhouse Group, an automotive Accounting, Training, and Coaching.Listen and view episode notes
Supply Partnership – The Strength of the Supplier/Service Professional Relationship – THA 123
We get into some gritty perspectives from your suppliers on trust, delivery, training, and helping the service professional succeed. We also talk pricing, margin and the people factor. It is always refreshing to hear from one of the strongest spokes or partners in the distribution channel.
Your panel: Danny Durbin, from Durbin Auto Parts, Keith West, from Auto Supply Company, Bowdon, GA. and Matt Ward, Director of Governmental Relations and Field Services for AAAS ( Automotive Aftermarket Association of the Southeast).Listen and view episode notes
You should have the highest payroll in town, not the lowest.
A generation ago the shop owner didn’t need to know the numbers. How the world has changed and in this episode with Vin Waterhouse, as with all my discussions with business consultants and coaches, will push you to make the important changes that will catapult you from having a hobby or job into a career that rewards you for your hard work
Vincent Waterhouse, President and Founder of The Waterhouse Group, an automotive Accounting, Training, and Coaching company shares his strategy for business climate based on today’s changing business models.
Vin has over thirty years of experience in the automotive aftermarket. His specialty is working with auto repair shop owners to help them earn the profits they deserve.Listen and view episode notes
What Drives Your Parts Buying Decision?
This Town Hall Academy summit features Keith Williamson, owner of Williamson’s Repair and Tire in Bondurant, IA, John Long partner in Schertz Auto Service in Schertz, TX, and Keith Katz, owner of Quality Service Center in York, PA.
The panel covers part quality, service, availability, training, price, and warranty. We also get into credits and returns, their salesperson, volume rebates, e-commerce, and labor claims. There is a consensus on the value their supplier brings to their business.
Compare your supplier needs and relationship to what this panel has to say about their parts buying decisions.Listen and view episode notes
This panel’s perspective is meant to excite a dialogue, to present ideas and concepts to support your decision or to inspire you to take a stand; one way or the other.
This topic is a worthy discussion because of the growth rate of e-commerce part availability, transparency in pricing, and ease of self-diagnosis on the internet.
At risk can be your reputation based on the quality of part being installed. You own the cause of their concern. This panel has not gotten one new great customer from ever installing parts for walk-in customers.Listen and view episode notes
Multiple Labor Rates Can Make A Shop Competitive Depending On Jobs. It Is Easy To Set Up Parts Matrixes On Your SMS.
A big fear in our industry is we fear someone questioning our price. We need to be proud of why and what we do. We must understand the value we do for our customer.
Understanding how parts matrix’s work in your SMS and understanding the strategy behind it will improve your parts margins overnight. Also, parts pricing transparency in the industry may change parts margins in the future.
Become the CEO of your company and you’ll start to see the differences in your sales, costs and profits when you pay attention to what the CEO must do for the company.Listen and view episode notes