How to Make Money (& Stay Sane) in the Automotive Service Industry

INTRODUCTIONS – Pages 5-22

  • Who is Automotive Consultants Group, & what do we do?
  • Understanding Consultants, what they do, & how they can help You
  • A few things before we get started – A Reality Check
  • THE PLAN — What is it we really want from our business?
  • Setting and achieving goals
  • Bob’s Garage Corporate goals and objectives
  • The Attitude Triangle

1. CHAPTER ONE — The basics of business for the automotive repair shop – Pages 23-32

  • An understanding of various forms of businesses
  • Essential finance & accounting methods
  • Financial Accounting
  • Management Accounting – KPIs
  • Essential computer & software products
  • Time is money
  • Phones
  • Technical repair information
  • Management software
  • IATN
  • You need to learn
  • Provide a product or service at a fair and reasonable price
  • Knowing your market
  • Beginning to understand your competition

2. CHAPTER TWO – Understanding Profit & Loss – Pages 33-70

  • An introduction to the Profit & Loss Statement
  • Bob’s Garage Income Statement, basic
  • Sales
  • Profit Center Analysis
  • Other profit centers
  • Shop Supplies Sales
  • Additional Profit Centers
  • Calculating gross profit margins
  • Income statement benchmarks and variances
  • P & L margins
  • Bob’s Income statement with calculated profit margins
  • Bob’s income statement with margins against benchmarks
  • Bob’s income statement with Variance percentages against benchmarks
  • Bob’s income statement with Variance dollars showing lost revenue
  • An Understanding of Calculating lost revenues
  • Increasing sales – Myth #1 explained
  • Calculating Percent to Sales
  • How to achieve gross sales targets
  • Several scenarios to achieve gross sales targets
  • Understanding Production Capacity toward Gross Sales
  • Why increasing your shop labor rate isn’t the best idea
  • What happens if we add a tech
  • Several Examples of Hitting Gross Sales Targets
  • Increasing car count and the story behind it
  • Decreasing costs – Myth #2 explained
  • Controlling shop expenses – Expense benchmarks
  • Calculating what it costs to the shop owner to “put the key in the door”
  • Bob’s income statement – calculating operating costs per hour
  • Increasing gross profit margin – Why it’s the Real Choice
  • A comparison of all three strategies – a cool chart
  • Understanding the labor rate – it’s effect on your knowledge
  • More about labor rate charges
  • An introduction to the parts pricing matrix – 3 tables
  • Shop productivity explained – important formulas
  • Menu pricing and its advantages
  • Effective labor rates and how to calculate
  • Calculating Overall Production Labor Rate – Much Lower Than You May Realize

3. CHAPTER THREE – Facility Management – Pages 71-78

  • More than just brick & mortar
  • Paint, light, and clean
  • Bragging rights – display of credentials
  • POS silent salesmen
  • CEL – explaining diagnostic charges
  • Knowing when to purchase new equipment
  • The right tools
  • Equipment profit planning – a Worksheet

4. CHAPTER FOUR – Your production staff – Pages 79-89

  • A review of everything we’ve learned up to now
  • The NFL
  • Tool boxes have wheels
  • Building your team
  • Technician & staffing planning
  • Job descriptions & how to write
  • Policy handbooks
  • Writing a Mission Statement
  • Finding competent help
  • Management strategies – working with the team
  • Technician Pay Plans – The Matrix
  • Motivating technicians toward higher production
  • Communicating to the Team
  • Technician Training & Certification
  • 3 Key Considerations toward Higher Production & Quality

5. CHAPTER FIVE – Customer handling skills – Pages 91- 96

  • The Word gets around
  • Know your customers’ buying habits
  • The 80/20 rule
  • AAA survey
  • The 20% money
  • The 80% time wasters
  • Evaluating where your money comes from
  • Converting over lesser customers

6. CHAPTER SIX – Regulatory compliance – Pages 97 – 100

  • The wisdom of regulation
  • Managing automotive & body shop wastes

7. CHAPTER SEVEN – Vehicle Air Conditioning Regulations

  • Refrigerant Report
  • EPA Finalizes CFC Recovery Rule
  • A/C Technician Certification
  • Recycling of Blend Refrigerants
  • EPA-Certified Reclaimers

8. CHAPTER EIGHT – Resources you’ll likely need

  • Federal Agency Contacts for Businesses
  • State & Private Agency Contacts
  • Directory of State Environmental, Health, & Safety Agencies for Georgia

9. CHAPTER NINE – Sample Business Forms

  • Income Statement
  • Cash Flow Statement
  • Balance Sheet
  • Job Description
  • Mechanics Application Evaluation
  • Employee ASE Record
  • ASE Pay Matrix
  • Employee Performance Appraisal
  • Equipment Profit Planning Worksheet
Book: How to Make Money in the Automotive Service Industry

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