Webinar: The Key to Turning a Higher Profit
The keys to increasing profit through a better understanding of the numbers that drive your business
Renowned shop owner and R+W columnist Aaron Stokes will lead a webinar, sponsored by Kukui, on how to increase profit by having a better understanding of the numbers that drive your business.
Stokes will touch on the importance of continually evaluating these numbers and the benefit of not waiting until the end of the month to analyze the results. He will discuss how to use a P+L statement to find the cause of the problem rather than just looking at it for the end result. Stokes will also give a rundown of the numbers you must get a handle on, including:
- Gross sales per hour
- Gross profit dollars per hour
- Shop advisor closing ratio
- Customer satisfaction scores
- Average hours per RO
- Technician direct cost
- Parts direct cost
Stokes will go in-depth as to why numbers can’t be ignored and how a clear understanding of the information is a surefire way to turn more profit. Only after you have the necessary knowledge can you make the changes necessary to create a more profitable business.
AARON STOKES is the founder of Shop Fix Academy, an innovative management coaching and training company offering AMi-accredited programs. A nearly 20-year veteran of the automotive repair industry, Stokes grew his business from a one-car garage to a six-shop operation and enjoys sharing strategies to help other shop owners overcome business obstacles and thrive. Stokes created Shop Fix Academy to provide comprehensive management training for shop owners delivered through user-friendly videos to ensure that participants receive maximum value for their money. In addition to his repair shops, Stokes also owns a rental car agency and hosts a weekly radio show on auto repair.
BRYCE EVANS is the vice president of content and events at 10 Missions Media, overseeing the company's four national business-building publications—Ratchet+Wrench, FenderBender, and NOLN.