Keep the Cash Flowing
Profitability and cash flow aren’t the same thing: You may have a backlog of profitable jobs scheduled, but no money to pay the bills. How do you overcome this? Learn to manage three things: owner’s extras, accounts receivable and accounts payable.
What to Do With Sagging Sales
In May, we examined how insufficient volume can put you in the red. But volume is only half the problem. Insufficient production also poses a serious threat to your shop’s sales. Luckily, it’s all fixable.
Behind the Blend
It takes more than technical know-how to create an invisible blend. Communication between customers, technicians and other shop staff is also an important ingredient. Mix them all together, and you’ve got the makings of a flawless repair.
The Spraybooth School of Hard Knocks
Everybody makes mistakes. (Trust me, I’ve been party to some big ones.) But if you learn from those mishaps instead of dwelling on them, you’ll come out ahead – and may even avoid a repeat performance.
Purchasing Profile: Aftermarket Crash Parts
You know you have to spend money to make money – but sometimes it’s on stuff you’d rather not buy.
Signed, Steered, Delivered — Not Yours
Many shop owners contend that insurance adjusters steer work to DRP shops. To compete, you need to educate yourself so you can then educate potential customers.
Ignorance Isn’t Bliss: Training is Cheap
Think you don’t have the time or money to train your administrative and management employees? When you see what training does for your office’s productivity, training is cheap compared to what ignorance costs you.
Retaining Good Law Information
Working to level the playing field between shops and insurers, Chicago attorney Patrick McGuire has created a program where he’s at the beck and call of shops in need of law advice. To the many shop owners he’s helped educate, McGuire is collision repair’s answer to Ann Landers.
What to Do When Sales Suck, Part I
While there isn’t always a quick fix for sagging sales, examining volume and production will reveal what went wrong – and what needs to be done to pull your shop out of the red.
Caution: Snake Pit Ahead
Unfortunately, poor business ventures aren’t as obvious as road signs flanked by flashing yellow lights and orange cones warning you of impending danger. (If only it were that easy.) How can you avoid such pitfalls? By learning from those who’ve already fallen prey.