Creating Your (Business) Plan of Attack
Whether you’re starting a new shop or you’re a veteran shop owner, writing and maintaining a solid business plan helps to ensure the continued success and growth of your organization.
Smart Start: Strategies for Opening a Shop
Once upon a time in the body shop industry, all you needed to start a shop was a garage, a couple pieces of used equipment and a good work ethic. These days, however, that formula no longer adds up to success. The advent of direct-repair programs (DRPs), the increased influence of insurance companies in determining
Are You Paying Uncle Sam Too Much
Because running a shop involves a lot of capital investments – spraybooths, frame machines, etc. – choosing the right depreciation method will minimize what you pay in taxes and maximize your chances of getting a loan when you need one.
The Government to the Rescue? SBA’s 504 Program
Donnie Jones had always dreamed of building a state-of-the-art body shop. But he faced major obstacles. Every banker he tried to get a business loan from wanted 25 to 30 percent in cash equity, with rates and terms that would have been a major stretch for his cash flow.
Keeping the Wolves at Bay: When it’s Hard to Pay the Bills
When you can’t pay those who you owe and you’re out of your wits, there are a number of ways to prevent them from huffing, puffing and blowing your credit and finances to bits.
Call Me! Turning Callers into Customers
When potential customers call in, are you impressing them or annoying them? If you’re not sure, consider these nine tips for turning callers into customers.
Should you build a new facility? Before donning a hard hat and diving into construction, put on your thinking cap to determine if building new is for you.
Eight Ways To Invest Money
Whether you own a shop or work on Wall Street, part of being successful in the ’90s depends on knowing what to do with your money.
As more white collars enter the industry, shop owners need to become better business people by learning how to better manage their money.
The Inventory Ate My Profits
When you stack inventory on your shelves, you might as well be stacking dollar bills. The key is to control your inventory – instead of letting it control you.
Banking in Cyberspace
Though banking by computer may never completely replace “going to the bank”, most of the nation’s 10,000 financial institutions will offer online banking services by the year 2000.
Which Benefits Are Beneficial
For most collision repair shop owners, devising
an effective employee benefit plan is a guessing game at best.