You have heard us speak about silent thieves before. You Net Results’ game plan starts with helping your auto repair shop identify which thief or thieves lurk in your midst. In this clip from our Daily Operations meeting, Brian quizzes members on their own experiences. Is your auto shop losing money, but you don’t know why? Then watch this video and find out!
Auto shop losing money – silent thieves on the prowl
Brian opens up by explaining the concept of a silent thief, which is money leaking out of your shop undetected. He asks members what those thieves look like in their shops, starting with inventory.
Once Andy’s business started growing, he noticed that he started to lose track of inventory. His shop’s process of transporting waste oil for reuse, for instance, needed improvement. Therefore, he bit the bullet and invested in new equipment.
Joe’s parts were not properly being charged out, so he implemented a new process to keep track of this expense.
Then, Jim Ryckman talks about the priorities of owners and managers. Whenever the boss doesn’t manage time well, silent thieves can creep in.
Next up, Leon mentions labor inventory. In his case, this is a huge chance to lose money. Because it can be hard to keep track of, labor rates may be a shop’s #1 money loser.
Finally, Brian discusses one thief we may not have thought of previously. Let’s say our advertising is on point, and customers are jamming your phone lines. If your service writers don’t know what to say to them to close the sale, then you may as well be throwing money out the window. This is why proper phone skills and scripts are crucial.
A few tidbits discussed afterward revealed the importance of taking notes on procedures, as well as being open to change. Surprisingly, many shop owners still use pen and paper instead of computers to keep up with shop supplies and tickets. Doubtless, these shops must update procedures and conquer their fear of change in order to survive.
Stop your silent thieves!
Do these problems sound familiar to you? By now, you might be wondering how you can solve these problems. We have your answer! Try one of our coaching groups for free. Each week, you can join fellow shop owners to identify your problems. Then, apply our systems to start turning record profits!