Surviving in the Next Century: Your Role as an Independent Shop Owner
If you choose to buy into the media’s millennium hype, then nothing you do can save your business from impending doom. (Sorry!) If, however, you think the 21st century will bring with it a fast-paced business world, prepare yourself. Times are changing and so must your role as an independent shop owner.
Gimme, Gimme, Gimme: Better, Cheaper & Faster
Years ago, the belief in business was that you could provide a product better, cheaper or faster — pick two. But to achieve success today, you must offer all three. Customers expect more, for less money and want it yesterday.
Life in the Fast Lane
The latest industry buzzwords — speed lanes, cycle times, process efficiency — all focus on repairing cars faster. Fast is hot; slow is not. As we ring in the new millennium, we may also be ringing in the era of rapid repairs.
The Incredibly Shrinking Industry
Until three years ago, the prospect of some Wall Street investor teaming up with a body shop owner was incomprehensible. Today, it’s reality. Welcome to the brave, new — consolidating — world of collision repair.
Becoming the Fastest Gun in the Shop
Because the industry is changing rapidly, the best painters are productive technicians, active communicators, speedy problem solvers and quick learners.
Bought Out
“If I knew then what I know now …”. Only after promising them anonymity would several former shop owners speak openly about why they sold to consolidators, where it’s gotten them and if they regret it.
Market Profile: Is the Industry that Bad?
It’s not uncommon to hear shop owners complaining about how awful the collision repair industry is. In fact, when a group of such shop owners get together, it’s worse than a group of old ladies sitting around discussing all their health problems. I know because I speak with a lot of collision repairers and I’m related to a lot of old Italian women (my mother, for one). And, although I have no desire to hear my family discussing bladder control, a group of collision repairers complaining is still worse — especially since most of their problems are fixable.
A Case for Competition: OEMs vs. A/M Parts
A/M crash parts were once the collision industry’s best-kept secret — until insurers discovered them. When the tables turned, so did repairers allegiance to A/M parts. But where would the industry be if only OEMs supplied replacement crash parts?
Perplexed by Profits
Today’s collision repair business is more complex than ever, yet most shop owners still don’t understand an elementary principle of business: profit. If you really want to make money, quit acting like you’re running a non-profit organization.
Sizing Up Your Support Staff
Do you know every task your business must perform and how long it takes to perform each one? You need to, if you want to create an ideal staff to support the production of labor and profits.