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Multiple Labor Rates [THA 364]

Carm Capriotto, AAP — Thu, 25 Jan 2024 05:15:00 +0000

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.

Matt Lachowitzer, Matt’s Automotive Service Center, Fargo-Moorhead, North Dakota and Minnesota. Listen to Matt’s previous episodes HERE

Tom Schearer, Schearer’s Sales and Service, Allentown, PA. Tom’s previous episodes HERE

Brent Fleischman, Yocum Automotive, Republic, MO. AutoFix Auto Shop Coaching. Listen to Brent’s previous episodes HERE

Show Notes:

Watch Full Video Episode
The importance of labor rates (00:00:01) Discussion on the significance of intelligent labor rates for profitability and success in the automotive service industry.
Differentiated labor rates for specific vehicles (00:03:02) Approach to having higher labor rates for certain foreign car makes and models, and the customer acceptance of these rates.
Multiple labor rates for different customers (00:04:54) Explanation of having various labor rates for retail, wholesale, and aftermarket warranty customers, and the strategic approach to setting these rates.
Diverse labor rates based on vehicle type (00:05:54) Insight into having subtle changes in labor rates for diesel, euro, older vehicles, and different skill sets, and the correlation of labor rates with menu pricing.
Determining diagnostic labor rates (00:10:22) Discussion on the determination of diagnostic labor rates at the front counter, potential modification of approaches based on insights from other panel members, and the significance of communication within the team.
The meeting to implement new labor rate levels (00:17:48) Implementing new labor rate levels with input from service advisors and technicians.
Setting diagnostic labor rates based on testing levels (00:19:55) Technicians use a system with 16 different testing levels to determine diagnostic labor rates.
Labor rates for maintenance items (00:22:16) Discussion on lower labor rates for maintenance items like oil changes, tire rotations, and transmission flushes.
Competing on maintenance item prices (00:23:20) The panel discusses pricing maintenance items competitively based on market demand and customer perception.
Client experience and pricing (00:29:38) The importance of providing a great customer experience and its impact on pricing and customer loyalty.
Knowing your numbers for effective labor rates (00:33:18) Advice to shop owners to evaluate labor rates based on their business needs and to know their numbers for profitability.
Pride in charging premium rates (00:34:20) The importance of being proud of charging premium rates for the talent, tools, and facilities provided.

Thanks to our Partner, NAPA TRACS

NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/

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OK, I Raised My Labor Rate: Now What?! [THA 355]

Carm Capriotto, AAP — Thu, 23 Nov 2023 05:15:00 +0000

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.

Aaron Woods, X-tra Mile Auto Care, Stillwater, OK. Institute for Automotive Business Excellence. Listen to Aaron’s previous episodes HERE

Brent Fleischman, Yocum Automotive, Republic, MO. AutoFix Auto Shop Coaching. Listen to Brent’s previous episodes HERE

Jennifer Hulbert, Service Plus Automotive, Calcium, NY. Institute for Automotive Business Excellence. Listen to Jennifer’s previous episodes HERE

Show Notes:

Watch Full Video
Raising Labor Rates: Importance and Impact (00:00:01) Discussion on the reasons to raise labor rates, the impact it can have on a business, and the need for a long-term strategy.
Factors to Consider Besides Labor Rate (00:04:14) Exploration of other factors that contribute to a business’s success, such as overall business strategy and addressing pain points.
Calculating Effective Labor Rate (00:07:34) Importance of understanding and calculating effective labor rate, including the need to charge appropriately for all services provided.
The mindset shift and the need to raise labor rates (00:08:33) Discussion on the importance of raising labor rates and positioning the industry as valuable and professional.
The impact of undervaluing the industry (00:09:52) The negative effects of undervaluing the automotive industry, including difficulty in attracting technicians and obtaining loans.
The bottom line and approaching the business as a business (00:12:10) The importance of considering the bottom line and treating the automotive business as a professional enterprise rather than a hobby.
The importance of customer experience (00:17:59) Discussion on how people buy feelings and the need to focus on providing a positive experience in the automotive industry.
Sharing new labor rates with the team (00:18:39) Importance of communicating labor rate changes to the team and how it helps maintain profit structure and make investments.
Effective labor rate and its impact (00:19:03) Exploration of effective labor rate, its calculation, and the need to consider menu jobs and their effect on gross profit dollars per hour.
The importance of personnel and procedural issues (00:27:40) Discussion on identifying whether the problem lies with personnel or procedural issues in a shop and the need to align the shop’s mission and vision statements with its culture.
Addressing cultural issues and offering training (00:28:50) Exploration of the top-down approach in addressing cultural issues, identifying personalities, offering training, and monitoring staff to create long-term relationships with customers.
Considerations before raising labor rates (00:30:07) Importance of analyzing gross profit percentages, solving core problems, and focusing on profitability and core processes before considering raising labor rates.

Thanks to our Partners Shop-Ware and Delphi Technologies

Shop-Ware: More Time. More Profit. Shop-Ware Shop Management https://getshopware.com/

Delphi Technologies: Keeping current on the latest vehicle systems and how to repair them is a must for today’s technicians. http://DelphiAftermarket.com

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-The Aftermarket Radio Network: https://aftermarketradionetwork.com

-Special episode collections: https://remarkableresults.biz/collections

Using My Dashboard to Find Trends [THA 317]

Carm Capriotto, AAP — Thu, 02 Mar 2023 05:15:00 +0000

Dashboards are a valuable tool for businesses as they provide a quick and easy way to visualize and analyze key data and metrics in real time. Hear from two shop owners as they discuss how dashboards improve decision making, increase productivity, and enhance collaboration and accountability with your team.

Watch Episode HERE

Jimmy Alauria, 3A Automotive and Diesel Repair, Phoenix, AZ. Jimmy’s previous episodes HERE

Brent Fleischman, Yocum Automotive, Republic, MO

Show Notes:

Numbers without dimensions are hard to analyze. Line graphs show trends as a picture. Where does there need to be more improvement? What caused a ‘dip?’
Using statistics helps find the right “WHY” when looking to solve a problem.
Competitive nature for employees
Creating a graph for daily production on completed hours for technicians
Examples of what to watch: Gross income, the value of services delivered (closed repairs), ARO, gross profit dollars, new customers, number of inspections, quality inspection, ARO, average repair estimates, and close percentage (60-75%). Be careful having the close rate too high/too low.
New customers- you need front office staff to have a proper orientation for a new customer.
Growth mode- as growth increases, also increase your marketing.

Thanks to our Partners Shop-Ware and Delphi Technologies

Shop-Ware: More Time. More Profit. Shop-Ware Shop Management getshopware.com

Delphi Technologies: Keeping current on the latest vehicle systems and how to repair them is a must for today’s technicians. DelphiAftermarket.com

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