Setting Up a P&L Statement for Your Auto Body Shop
Setting up a profit and loss statement for a body shop may seem cumbersome, but once you understand a few key strategies, it allows management to focus on running the business.
Auto Body Profit: The Squeeze is On
With the ever-changing collision business and inflationary increases, it is more important than ever for you to understand what drives profitability.
Mastering Your Financials, Part 2 (VIDEO)
Five specific steps you can take to start building a stronger financial foundation at your shop.
Mastering Your Financials, Part 1
How often should you review your numbers? How do you create a good financial management system? We answer these questions and more.
5 Smart Financial Moves Every Body Shop Should Make in 2022
These five things will help collision repair facilities create a solid foundation for managing their finances.
Body Shop Accounting 101, Part 2 (VIDEO)
Do you know the difference between cash-based accounting and accrual-based accounting?
Body Shop Accounting 101, Part 1 (VIDEO)
Is all of your accounting organized to “map” or feed into your financial statements?
Demystifying Body Shop Accounting
We simplify and take the cloak of mystery off of a subject most body shop owners struggle with: accounting.
4 Ways Training Can Help You Succeed During this Time
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $139 billion in sales financed and 68.5 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated
Close Rate: Getting Customers to Choose Your Body Shop
Before you start worrying about labor efficiency and how much paint and material you’re selling, worry about the people who let you write an estimate and didn’t have their vehicle fixed in your shop.
Start Small When It Comes to Tracking the Financials in Your Body Shop
I know this industry doesn’t attract many math or finance majors as shop owners. But I implore you to start tracking your financials because, if you can’t measure it, you can’t manage it.
Auto Repair Study Reveals Financial Hardships
Over half (56 percent) of small business owners in the auto repair sector are considering exiting their business by 2020.