If you currently own or are looking to start your auto repair shop, you would think that pricing parts are easy. You already know the part costs, and you just set a price based on profit margin and competition. Simple, right? Of course, the answer is it’s not always so black and white, and there
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How to Your Auto Repair Shop’s Cash Flow Issues Auto repair shops are cash-intensive and usually have a lot of moving parts (pun intended!). From regulations and licensing fees, to local and state taxes for operation, to the sometimes complicated transactions between you and your customers, the economics of running an auto repair shop can
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Opening up an auto repair shop and making money at an auto repair shop do not automatically go hand in hand, period. Sure, you may love the work and you may eat, sleep, and dream cars, but at the end of the day you have bills to pay. As any aspiring shop owner will quickly
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In a day and age where everything from furniture to groceries can be delivered the same day, the need to carry a large inventory of parts is unnecessary if you have good, well-supplied parts houses within an hour’s delivery of the shop. Carrying a lot of unsold inventory that is slow to move will cut
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P&L, or Profit and Loss statements are an essential part of running an auto repair shop. Any business with so many moving parts needs detailed account records and tracking documents to 1) determine whether the operation is actually making any money, 2) find any gaps in cash flow or discover any unnecessary expenses and 3)
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Auto Mechanics, Technicians and FLSA Overtime Pay Our last blog post spoke of when to hire and who to hire for your shop. This post will deal with the things you need to know from an “HR” or human resources perspective. Overtime Pay There have been countless wage and compensation claims and lawsuits within the
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If you have worked at a technician for a shop, you probably have a good idea of what tools and equipment you will need to open a shop. But to save you time in research, we here at TurnProTech have compiled a typical “startup cost” list for you to include in your startup projections for
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So you’ve decided it’s time to stop being a technician and become the shop owner. Congratulations, and TurnProTech is here to help you on your journey. The first thing you are probably wondering about is getting customers to your new shop. And one of the easiest ways is to buy an existing shop with an
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What type of work do you love doing so much that you are willing to take the risk of owning your own repair shop? Second, are there any shops in your area that are already successfully providing that same service? If there are several shops in your area doing something similar to what you want
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It seems like it was just yesterday where you were working long hours in the shop, performing numerous repairs, wishing you were running the shop, and not greasing up your fingers every day. Anytime you saw your boss, the same thing went through your head: “I can do what he’s doing, only better.” You looked
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