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.
Recorded Live at AAPEX 2023, our panel dives into the progress of the Right to Repair bill that could potentially reshape our industry. Without the Right to Repair Act, our industry could face a staggering $93 billion hit by 2035. Kathleen Callahan, who testified in front of Congress, shared her experience and the momentum it created for the bill. It’s crucial for industry professionals to understand the bill, advocate for it, and engage with their communities and legislators.
Our panel explores the challenges of achieving work-life balance and how it affects busy professionals and entrepreneurs. The key takeaway was the importance of operating with the mindset of wanting employees’ lives to work both inside and outside of the shop. Eddie Lawrence shared his personal story of experiencing a health crisis in 2015, which served as a wake-up call for him. As a business owner, he had been prioritizing his work over his own well-being. This realization led him to create ‘Life Calibration,’ a framework to help individuals prioritize and improve different areas of their lives, not just for themselves but also for their teams.
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.
Jock Brocas, Author, Publisher, Researcher and Evidential Medium discusses the topic of grief and its impact on individuals and society. Jock shares his personal experience with grief and emphasizes the importance of integrating it into our lives rather than trying to recover from it. He explains there is a societal fear and discomfort surrounding grief and how it affects our ability to support those who are grieving. Jock offers insights on empathy versus sympathy and encourages engaging with those who are grieving. He also discusses the transformative power of grief and the importance of leaders in the automotive industry supporting their team members who may be grieving. Jock shares his simple model for coping with grief and emphasizes the power of choice. It’s our hope that this conversation will inspire you to approach grief with empathy, understanding, and acceptance.
‘Car Coach’ Lauren Fix discusses the topic of synthetic fuel, explaining Porsche’s investment in e-fuel as an alternative to electric conversion. Lauren shares her thoughts on EVs and the government’s role in mandating their use. She believes in the freedom of choice when it comes to the type of vehicle one wants to drive, be it electric, hybrid, diesel, or gas.
Aaron Weber, a shop owner from D & E Auto Repair in Chico, California, discusses his experience during the devastating Paradise Campfire in November 2018. Aaron shares how he and his family lost everything in the fire and had to start from scratch. He is transparent about the challenges they faced, including dealing with insurance, finding temporary housing, and seeking assistance. Despite the difficulties, Aaron emphasizes the importance of compassion and empathy, and how this experience has made him a better leader.
Lisa Foshee, Senior Vice President of Government Affairs and General Counsel for the Auto Care Association, discusses the recent letter from the National Highway Traffic Safety Administration (NHTSA) instructing auto manufacturers not to comply with the data access law in Massachusetts. This letter has caused concern for those advocating for the right to repair legislation, as it could hinder progress.
But why is the right to repair legislation so important? It allows car owners to have access to the same diagnostic and repair information that dealerships have. This means that car owners can choose where to get their car repaired, and not be forced to go to a dealership for repairs.
Join Lisa Foshee, Senior Vice President of Government Affairs and General Counsel of the Auto Care Association, and Paul McCarthy, President and CEO of MEMA Aftermarket Suppliers Group, as they discuss the recent update to the law and the challenges that may arise in enforcing it. The recent decision by a federal judge in Massachusetts to allow the law to go into effect is a big step forward for the automotive industry, but there are still some challenges that need to be addressed. They discuss the limitations of the Memorandum of Understanding (MOU) model for data sharing between Original Equipment Manufacturers (OEMs) and independent repair shops and urge listeners to sign the petition at repairact.com and support the Federal Repair Act, also known as HR 906. Lisa and Paul describe the bill as a reasonable and critical solution to ensure vehicle repairability, safety, and cybersecurity. They stress the need for unified and passionate support from the industry to push Congress to take affirmative action and pass the bill.
California is mandating 100% of new cars and light trucks sold will be zero-emission vehicles by 2035. How will electric vehicles change the composition of our industry? What are the service opportunities? Should you start working on hybrids if you haven’t already? Hear from the perspectives of 3 California shop owners that are ready and prepared for the future.
Will diagnostic work overtake remove and replace work? How will you position and present your shop as a technologically advanced repair center? What training will our employees need? How will artificial intelligence impact our industry? Will we be prepared? Join Jake Sorensen, Chris Chesney and Derek Kaufman as they discuss the shop of the future.
The future is here, consolidation is already happening. The middle-level shops will now be at the bottom end of the bell curve. What are the trends at the OEM level? Is Uber/Lyft the fleet of the future? What is the outlook of the changing service aftermarket? Recorded Live at the 2022 Institute Summit, Michael Smith, Brian Bates, and AJ Nealey discuss the future; it is happening sooner than we think.
Did you know 80% of small businesses do not survive the departure of the current owner? When is the right time to prepare your business for sale? The day you opened your business! How do you maximize your selling price? Is there a simple way to quickly valuate your business? Hear from 3 business coaches on the importance of properly planning your business for sale.
Recession is the main topic for everyone as we enter into 2023, almost 3 years post-pandemic. The Aftermarket Radio Network has collaborated together to offer their forecast for the year. Consider this your ‘one stop podcast player’ to hear insights from an accountant, technician, business coach and marketing perspective. Together, we continue to Advance the Aftermarket.
How often are you checking on the overall health of your business with your team members involved? Are you identifying and working on the strengths, weaknesses, opportunities, and threats, known as SWOT? How do you start a SWOT analysis? What are the benefits? How do you find your blindspots? Does knowing your SWOT give you a competitive advantage? My panel takes a deep dive into the value of SWOT and shares their own experiences.
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Guest host and shop tour with John Bridgwater, Doral’s Auto Repair, San Leandro, CA. Find out how John recovered from losing 3 technicians in 3 weeks.
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What is it like opening two locations at the dawn of COVID? David Eschbach shares his story around three primary business tenets. Each Take-Away is wrapped in a compelling story and supported by integrating sub-lessons. See the show notes as a guide, as this information is applicable for leading a business during any crisis or economic environment, not just during COVID.
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How do we prepare for the future? In this episode listen to the insights from the perspective of a shop owner, technician, instructor, COO, and trainer. Times have changed, so how do we get the younger generation passionate about our industry and our high-tech vehicles? What does the future of ADAS and electric vehicles mean to the aftermarket?
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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.
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The aftermarket is blazing busy. We may think that boomtown will continue without an end in sight. But what are your ‘slow day action plans?’ Some who have not been doing things ‘right’ are feeling the ebb and flow of typical cycle times, holidays, back to school, vacations, weather, and travel. Let this episode help you re-think how you prop up your business. Stop stopping.
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Did you know ethics, culture, and team go hand in hand in a successful business? Doing the right thing means having full transparency, trust, and integrity. Listen firsthand to my panel as they discuss ethics 101 and some standout scenarios they’ve experienced.
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I have a question for you, are the OEMs really after the service and repair market? Or do they need us as much as we need them? Can we work together, and will that give us access to important information? Rob Merwin joins me, the publisher at Aftermarket Matters, and brings his intel on the Right to Repair Act and topics he reports on. He has big dreams of everyone working together.
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Where did you learn about finances? Did you learn it from your parents? Finances are one of the most important elements in our lives, yet most of us never really understand it or discuss it with our spouses or employees. Listen to 3 shop owners that make finances a part of the conversation in their business and for their people.
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Tina Erickson on Brand Equity and Tour of Her Shop [AW 075]Listen and view episode notes
Addition by Subtraction: Letting Somone Go [THA 244]
Are you the type of person that sees potential in others when they don’t see it in themselves? Do you work hard to get them to contribute to the business? Too often business owners hold onto employees longer than they should because they want the employee to succeed. Sometimes we give many chances, however, how many chances should you give? When is it time to make the tough decision to let someone go? Letting go of an employee doesn’t necessarily mean they are a bad person, they just might be in the wrong position, company or industry.
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