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Potential: You Be the Judge - A Case Study [E139] - Chris Cotton Weekly Blitz

Potential: You Be the Judge - A Case Study [E139] - Chris Cotton Weekly Blitz

FromRemarkable Results Radio Podcast


Potential: You Be the Judge - A Case Study [E139] - Chris Cotton Weekly Blitz

FromRemarkable Results Radio Podcast

ratings:
Length:
20 minutes
Released:
Nov 20, 2023
Format:
Podcast episode

Description

The Weekly Blitz is brought to you by our friends over at Shop Marketing Pros. If you want to take your shop to the next level, you need great marketing. Shop Marketing Pros does top-tier marketing for top-tier shops. Click here to learn more about Top Tier Marketing by Shop Marketing Pros and schedule a demo:https://shopmarketingpros.com/chris/Check out their podcast here: https://autorepairmarketing.captivate.fm/If you would like to join their private facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermindIn this podcast episode, Coach Chris Cotton provides advice to a San Diego auto repair shop owner looking to grow their business. The shop owner currently makes around $200,000 a year, mostly from custom jobs, and wants to increase profitability without working seven days a week. Coach Cotton suggests using a cloud-based SMS system for tracking numbers, advertising as a larger shop to attract more customers, and following California's hourly pay laws. He also advises focusing on oil services, brake, steering, and suspension work for consistent revenue, and charging separately for parts and labor. The shop owner admits to lacking proper income statements and running their business in an unstructured manner.The shop owner's challenges (00:02:17) The shop owner discusses their challenges in scaling their business, working long hours, and the need for more employees.The issue with custom work (00:05:15) Coach Chris explains the common misconception of making money from custom work and advises focusing on regular retail customers.Assessing the shop's financials (00:07:28) Coach Chris questions the shop owner's income statement, advertising budget, and advises tracking numbers and moving to a cloud-based SMS system.The shop owner's financial situation (00:09:23) Discussion on expenses, rent, employee pay, and the potential legal consequences of not following labor laws.The importance of proper advertising and marketing (00:12:15) Emphasis on the value of effective advertising and the difference between low-cost and high-quality marketing strategies.Challenges with pricing, warranty, and business operations (00:15:13) Exploration of pricing strategies, the need for clear warranties, and the shop owner's lack of financial and operational management.Oil services and alignment machines (00:17:55) Discussion about the importance of oil services and the misconception of alignment machines bringing in a lot of business.Charging for parts and labor (00:20:42) Conversation about the necessity of marking up parts and the importance of charging for both parts and labor to run a profitable auto repair business.Coaching package and growth potential (00:22:42) Discussion about the coaching package and the potential for the shop to double its revenue next year through improved processes, procedures, and technician work.Shop owner wants to scale their auto repair business and improve profitabilityCurrent revenue and net income of the shop ownerCoach Chris advises against custom jobs and suggests focusing on regular retail workImportance of tracking profits regularly and using a cloud-based SMS systemAdvertising strategies on Facebook, Instagram, and GoogleConcerns about employee payment and legal issues in CaliforniaSuggestions for raising labor rates and providing clear warrantiesLack of proper income statements and structured business practicesDisappointment with the performance of the alignment machineFocus on oil services, brake, steering, and suspension work for consistent revenueCoach Chris Cotton, 00:12:15, "If we don't have a legitimate business, we don't have anything at...
Released:
Nov 20, 2023
Format:
Podcast episode

Titles in the series (100)

Ever wonder what differentiates successful businesses, especially in the automotive aftermarket? Do you have a strong interest in great leadership, business strategies, and the desire to uncover just how successful business people achieved or executed their success? Remarkable Results Podcast is for you. The podcast will interview successful automotive aftermarket professional service entrepreneurs and hear about their business success story. The show will also interview leaders from distribution and manufacturing. Listen to Learn, each week, and strive to take just one thing away with you … One thing that sparked an idea or action within you, that you can implement or pass on. The stories you’ll hear from our guests will show that Remarkable Results comes in many forms and fashions, some instant and many more disguised as daily challenges that were overcome.