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!

Hunt Demarest, CPA, Paar Mellis and AssociatesBusiness by the Numbers Podcast

Show Notes

  • Finance and accounting with new clients- “I want to know more about my finances, but I don’t understand them.”
  • Clients have to see the value in their numbers themselves
  • How do you want to make more money if you don’t even know how much money you’re making right now?
  • You need to set up your financials in a way that makes sense to you.
  • Profit is used to pay down debt. Profit is used for your distributions. Profit is used for you to buy inventory and equipment.
  • Paar Melis gives you a report card at the end of the month. Focus on the red items and that’s going to tell you everything that you need to know.
  • Numbers don’t lie, but they can be misleading
  • Instead of charging credit card fees, instead, raise your labor rate, and raise your parts margin 3%. Now you’re making that credit card fee on every person

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Check out today’s partner:

Learn more about NAPA AutoCare and the benefits of being part of the NAPA family by visiting www.NAPAAutoCare.com

About the author, Carm Capriotto, AAP

Carm is the founder and host of the Remarkable Results Radio Podcast and the pioneer of automotive aftermarket podcasts. Carm calls on his years of experience in the aftermarket to bring engaging stories from his guests.

Listen to raw, unfiltered, honest, and sincere stories that include insights, trends, best practices, and expertise. Each interview brings an opportunity to learn one new thing through the stories of personal achievement. Many podcast guests tell their story of transformation from working in their business to working on it.

As host of over 1,000 episodes, Carm uses his enthusiasm and passion for the aftermarket especially the service sector to take his listeners on a journey showcasing successful service professionals’ paths to Remarkable Results. He also enjoys interviews with aftermarket industry thought leaders who bring their industry perspectives to his listener.

Follow the podcast on your favorite podcast listening app and always listen to learn just one thing!