The Keys to Profitability
Bruce Raymond, owner of Raymond’s Auto & Truck Repair, in Plainfield, Ind., follows a certain mantra in how he views the training he brings into his shop—he not only offers it free to his employees, but also to the surrounding shops in his area.
“You have to raise the lake level, not just the boat,” says Raymond.
Profitability is a vast topic, and can be comprised of countless factors, including: car count, ARO, technician efficiency, sales closing ratio, and more. But by focusing on small specific processes and procedures, the surrounding lake level can rise, and your shop is able to safely float.
Ratchet+Wrench sat down with five automotive repair shops, who proved their profitability success in the 2019 Ratchet+Wrench Industry Survey results, to speak on the isolated factor they have been able to master, and what processes and procedures they have put into place to ensure their overall profitability.
Below is a breakdown of the five most influential profit factors according to the 2019 Ratchet+Wrench Industry Survey.