Category Archives: Business Planning

The Ultimate Technician Pay Guide *This Article Also Featured in Ratchet + Wrench*

The Ultimate Technician Pay Guide *This Article Also Featured in Ratchet + Wrench*

Article Posted on Ratchet + Wrench This statement may or may not be too surprising, for the proof is in the industry’s staggering technician shortage, with some reports showing that, by 2026, the industry will be over 46,000 technicians short. But, there is one element that the former statistic proves: the shortage isn’t entirely due to lack of interest.     “I feel like, for every person that wants to go out and write code or be a doctor, there’s an actual person out there that wants to work with their hands to build and accomplish things at the end of the day,” says Chris Cotton, industry coach and consultant. The technician shortage is an extremely complex and layered issue, but working toward keeping the technicians that do join the industry from jumping ship is a vital step to closing the gap. That leaves the question: How? “Young p ... read more

Auto Repair Shop Profit Margins

Auto Repair Shop Profit Margins

  One goal of any business is to increase its profit, but increased profit doesn’t always lead to increased profit margins. Whether running a tattoo shop or an auto repair shop, a business owner needs to understand the difference between profit and profit margin and realize which one serves you as a better measurement for understanding costs.   Profit is Total Revenue Minus Total Expenses This can help anyone better understand profit: sales-expenses=profit. This is a formula that is outdated and lazy, that we should be getting away from and is keeping you from being successful in your business. From now on I want you to think of Profit as: Sales-Profit=Expenses, but more on that later. For example, let's say an auto repair shop sells $500,000 worth of parts and labor a year and its total expenses to operate the store (rent, utilities, labor, advertising, licenses, merchandise etc.) totals $400,000. Take the $500,000 in revenue and subtract the $400,000 in expe ... read more

Are YOU Putting Profit FIRST in Your Business?

Are YOU Putting Profit FIRST in Your Business?

THE PROFIT FIRST DIFFERENTIATOR Chris Cotton utilizes the Profit First method of cash management. He is trained and certified by the Profit First Professionals organization to guide business owners and entrepreneurs in maximizing their profits. AutoFix is one of the select few coaching firms, nationwide, that has achieved certification in Profit First. What does this mean for you? In addition to Chris's coaching services, the Profit First method will guide you to greatly increase the profitability of your business. Of course, Chris will guide you through the business challenges you face, as you'd expect from any coach you hire. He will also address the most important factor for any business - maximizing your profits. Working in the auto repair industry in the United States for the last couple of decades, Chris has come to understand the needs of auto repair shop owners. As an auto repair shop consultant, he can help you work to me ... read more

There Is NO Technician Shortage, It’s All In YOUR Head!!

There Is NO Technician Shortage, It’s All In YOUR Head!!

This is one man’s opinion and as such I know I am opening myself up to huge amounts of criticism. I am basing this on my experiences working with hundreds of Auto Repair shop owners from coast to coast and I believe the following is true. Technicians are all around you, you just need to do a better job of running your shop and stop making excuses. What I’ve found is the shop owners without technicians are the ones that sit back and spout off with their excuses about why they can’t get car count while the fair is in town, school just started etc…..   Pay the ones you have what they are worth and give them benefits that can enhance their family life and they will come to you.  Techs are leaving your shops for real employers and occupations with quality ERM (employee relationship management, look it up!), fair pay, work/life balance, benefits, NO WEEKENDS and better culture. And they are wisely encouraging their offspring, nephews, and grandsons to st ... read more

What Is Auto Shop Coaching?

What Is Auto Shop Coaching?

Auto Repair Business Coaching is a process used to take an Auto Repair business from where it is now to where the business owner wants it to be. A business coach will assist and guide the business owner in growing their business by helping them clarify the vision of their business and how it fits in with their personal goals. Fitting the business vision in with the business owner’s personal goals is a step that is often missed by most business coaches, who often only focus on the business goals. A great auto repair business owner seeks to understand why reaching business growth goals is important to them personally, and the impact it will have on their life. After all, the business owner ultimately determines the speed and passion in which the goal is met (if ever), and if it is not linked to the business owner’s personal dreams, goals and plans for themselves, there is no burning reason why getting to that business goal is critic ... read more

Why Choose AutoFix?

Why Choose AutoFix?

Why Choose AutoFix? Mid-Year Client Status Report If you want to improve your Auto Repair Business whether it’s a traditional auto repair shop, tire shop or quick lube then AutoFix is your best choice for a custom program that fits YOUR shops needs. I don’t do cookie cutter programs that fit “every” shop.   I’ve gone back and forth about publishing this information. I’ve always thought it felt like bragging. The more I think about it the more a saying I tell my clients comes back to haunt me. “You have to make soldiers for your business and YOU have to make sure people know how great you are, if YOU don’t tell them no one else is going to do it for you.”   With that in mind I have created the mid-year report to brag on my clients and maybe a little bit about myself. All data is through the end of August 2018 and compared to the same time period through August 2017.   T ... read more

Are You Ready for 2018? How About 7 Ideas on How to Make It Your Best Year Ever?

Are You Ready for 2018? How About 7 Ideas on How to Make It Your Best Year Ever?

So 2017 is almost over. Before we let it go I want to ask you: How was it? What went right and more importantly what went wrong. How did decisions you made in January affect you in September? Looking towards 2018 what do you want to accomplish that you didn’t in 2017? What new things would you like to learn or show to others? What is your time line for getting those things done? Please keep reading for some thoughts on things that can get you where you want to go. I want you to think about the questions out loud, reflect on them honestly and see where it takes you. Start a new revenue stream. Where can you expand in your business to fill a niche that your competitors are not filling? Have you done a cost to benefit analysis on what it would take to get you there? Does it provide a unique experience for your customers that they can’t get anywhere else? Hire the right people, or better yet let go of the dead weight! This goes back to havi ... read more

ARE YOU AN 80/20 MANAGER?

ARE YOU AN 80/20 MANAGER?

The more I learn about business the more I realize the 80/20 rules come into play every day. The more I track and measure my clients the more I learn about how it works and how to apply it to their current set of circumstances. From everything I have read and learned one thing I know is true. Every business will have a very small set of very profitable clients and every business will have a broad set of problem customers. Please see the following lists for attributes of the best and the worst. Your most profitable clients attribute: These are the most appreciative of your business and the products, goods and services that you provide. These are the least price sensitive. They say “just fix it” or “let’s just do it”. Or “when can we start”. These customers complain the least. These customers are most in tune with what your products are and how they affect their lives. It is very important to identify your problem customers, the profit ... read more

HOW DAILY JOURNALING CAN INCREASE YOUR SALES

HOW DAILY JOURNALING CAN INCREASE YOUR SALES

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