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5 Steps to Forming a Tech+Tools Budget

November 1, 2018

Looking down the line for your industry is one thing—being ready for that future is another. That’s why Greg Buckley stresses the importance of budgeting for the tools and equipment that will shape your business in the coming years. And you can build that budget through a few simple steps.

4 Keys to Ensuring an ROI on Equipment Purchases

4 Keys to Ensuring an ROI on Equipment Purchases

October 29, 2018

Determining the ROI on tool and equipment purchases requires several levels of evaluation, says Donny Seyfer. Here are the four main ones.

The Ultimate Guide to Business Loans

October 15, 2018

Alex Van Abbema

As shop owner Jon Thompson knows, there are several steps you need to follow to successfully obtain a business loan. He lists the steps he took to get a business loan to acquire his first business and build out his first expansion.

How I Work: Rob Choisser

August 16, 2018

Kiley Wellendorf

For Rob Choisser, taking a step back from the toolbox and focusing on ways to improve the business has led to a number of improvements at his auto repair shop. Here's a look at how he manages his operation.

Investing in Mobile Repair

August 13, 2018

There are two major investments needed when adding mobile repair—time and money. Here’s how one shop formed a new stream of revenue with a mobile business.

Call Count and Car Count

Call Count and Car Count

August 1, 2018

A focus on repeated training will shape how you interact with customers—and gain business, writes Aaron Stokes.

Taylor Pickering

Budgeting a Yearlong Marketing Plan

August 1, 2018

Alex Van Abbema

When creating a yearlong marketing plan, it’s vital for budgeting and marketing to be intertwined. Here are seven steps for forming that plan.

Shop Advice

The Secret to Maximizing Effective Labor Rate

July 25, 2018

Alex Van Abbema

Effective labor rate is a simple calculation that tells you what your shop actually makes per billed hour. Here are several tips for maximizing this important KPI.

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The Anatomy of a Fleet Contract

June 26, 2018

Alex Van Abbema

Whether you handle fleet accounts with a contract or a less formal service agreement, communicating your services and understanding accounts receivables are key to reducing liability with your clients.

Free Checking Engine Light Testing

Why Shops Need to Charge Testing Fees

June 20, 2018

Joe Marconi says you need to explain to the customer that there will be situations, such as a check engine light, where your shop will need to charge for certain tests in order to know what’s causing the problem.

Executing an Expansion

Executing a Successful Expansion

May 21, 2018

Alex Van Abbema

Jeff and Debbie Nol faced a variety of unforeseen challenges en route to executing two shop expansions.

Growing a Franchise

Growing a Franchise

April 1, 2018

Rissy Sutherland

An inside look at franchises.

Numbers are the Boss

Numbers are the Boss

April 1, 2018

Better understand your business and you'll improve it.

Budgeting for Profit

Budgeting for Profit

March 21, 2018

Alex Van Abbema

Coming into her shop as a co-owner with no prior business experience, Kathryn van der Pol had to figure out the numbers.

Is Flat Rate Pay the Problem?

Is Flat Rate Pay the Problem?

March 1, 2018

A technician’s perspective on pay and the tech shortage.

Finding the Value

Finding the Value

March 1, 2018

Alex Van Abbema

Facing sinking profits, Luke’s Automotive changed its operations from cost focused to value focused to turn things around.

Managing an Owner's Salary

How to Budget Your Salary as an Owner

February 22, 2018

Alex Van Abbema

How to ensure you're paying yourself enough as an owner

How to Measure ROI for any Business Expense

The ROI Guide

February 6, 2018

Whether you’re investing in training, tools or marketing campaigns, you can trace the ROI on any business expense. You just need a lateral system in place that tracks both your relationship with customers and the performance of your employees—here’s how you can do just that.

Download: A Guide to Financial Planning

January 23, 2018

Dave Mulcahy, director of a Small Business Development Center, has provided Ratchet+Wrench readers with a spreadsheet for tracking said stability. You can read his full story in the February issue, but for now, this speadsheet encompasses everything he says you should consider in order to run a profitable, financially healthy business.

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Finding the Profit to Support Your Shop's Future

January 12, 2018

Creating a successful succession plan requires finding a sustainable solution that not only ensures the longevity of the business, but also guarantees the business can sustain its successors.

Dec 2017 Case Study

How to Increase Your Net Profit

December 8, 2017

By addressing his point-of-sale systems and more carefully tracking KPIs and sales performance, Brian Moak raised his shop's net profit margin by 14 percent.

Making Money on Service Packages

November 30, 2017

A guide to pricing service package items for maximum profit.

BryceEvans

The Value of Proper Measurement

November 1, 2017

The important thing is to look at these numbers—and those from your business—with a critical eye; not just in the validity of the data presented to you in both cases, but also in what it truly means for your business.

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The Production Turnaround

November 1, 2017

After suffering no profit from his business, one shop owner boosted his production by over 60 percent to ensure profit and steady growth by implementing three simple changes.

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Carl Icahn’s Effect on Auto Care Consolidation

August 7, 2017

Contrary to horizontal integration, where firms control one component of a market or process, vertical integration engages multiple segments of production. So while horizontal consolidation continues to grip the industry, Icahn’s form of consolidation allows him to accomplish what many independent facilities struggle with.

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