There is a big difference between being a great automotive technician and being a successful business owner. In my experience, I find that a lot of the issues in our industry are created because the gap between these two roles can be vast. I have always said that it is imperative that someone babysits the money and usually this isn’t the person who runs the workshop.
Does waiting an additional 10 minutes for a part make a difference? If you know your per minute breakdown of your shop costs you’ll know that 10 minutes of lost time is expensive, especially if you look at it every day over the period of the year. Knowing these numbers can add thousands to your bottom line.
One of the things we value at RepairPal is training; good quality training from professional training organizations. The cost of this program can seem daunting and you can sit and wonder if it is worth the investment. My personal experience is that knowing your numbers, refining your workshop process, and being aware of the actual data is always worth the investment. Monitoring your numbers daily or at least weekly will expose inefficiencies that may be easy to correct and more importantly add dollars to the bottom line. There are many companies who offer this training and picking the right one for yourself is up to you, but making the investment can make a difference from being profitable and being very profitable.
Being profitable doesn’t necessarily mean charging more; sometime tweaking a few processes and using your resources efficiently can do the trick!