Remarkable Results Radio Podcast – Details, episodes & analysis

This episode of Business by the Numbers is Part 3 (and the final part) of the 2024 benchmark series! What separates the most profitable auto repair shops from those struggling to turn a profit? Today, he's tackling that question using financial data and real-world insights from hundreds of shops across the industry. What you'll take away from this episode:

• Understand what the top 10% of shops are doing right – and what the bottom 10% are doing wrong.
• Why labor productivity is actually the most important predictor of profitability.
• Why do understaffed shops often outperform overstaffed ones?
• How profitability peaks as a shop grows and optimizes, but also how maintaining that peak can be unsustainable.
• The ongoing debate on flat rate vs. hourly pay for technicians and service advisors, and how it impacts shop performance.
• Download the Benchmark Report for yourself and follow along! https://info.paarmelis.com/2024-automotive-industry-benchmark-report

Thanks to our partner, NAPA TRACS

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it.  After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business.  Find NAPA TRACS on the Web at NAPATRACS.com

Thanks to our partner, Promotive

It’s time to hire a superstar for your business; what a grind you have in front of you. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online: www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Download a Copy of My Books Here:

• Wrenches to Write-Offs
• Your Perfect Shop 

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion.

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.

Matt Fanslow explores the parallels between women's basketball and the automotive repair industry. Highlighting Caitlin Clark's exceptional impact on women's sports, Matt discusses how her achievements should be celebrated rather than downplayed. He critiques the tendency of some WNBA players to undermine Clark's success, likening it to the automotive industry's habit of disparaging competitors. Matt argues that fostering a supportive and collaborative environment, rather than one of criticism, can lead to growth and success in both fields.

Show Notes

• Out of Nowhere - Pistol Pete Marravich - Matt Fanslow Diagnosing the Aftermarket A to Z [E010]: https://mattfanslow.captivate.fm/episode/010
• The Sport of Auto Repair with Chris Jones [E134]: https://mattfanslow.captivate.fm/episode/134
• Sports and Automotive Parallels (00:01:12)
• Caitlin Clark's Impact (00:01:36)
• Comparison of Basketball Eras (00:02:47)
• Surge in Women's Basketball Viewership (00:04:11)
• Caitlin Clark's Unique Playing Style (00:05:30)
• WNBA Attendance Records (00:06:44)
• WNBA's Financial Struggles (00:08:31)
• Marginalization of Caitlin Clark (00:10:10)
• Opportunities for Growth (00:11:34)
• Comparison to Automotive Industry Tactics (00:14:16)
• Downplaying Competitors (00:16:49).
• Harmful Practices in Sports and Automotive (00:18:11)
• Final Thoughts on Caitlin Clark and the WNBA (00:19:39)
• The importance of competition (00:20:59)
• Critique of disparagement (00:22:16)
• Learning from popularity (00:23:33)
• Long-term strategy concerns (00:24:59)

The Aftermarket Radio Network

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.

The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level.

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.

Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.

Matt Fanslow shares experiences with new hires at the shop, highlighting their questions about air conditioning systems and diagnostic processes. Using a crossword puzzle analogy from Jorge Menchu, Matt illustrates effective diagnostic strategies, stressing the importance of starting with 'simpler' problems to build understanding and gain confidence. Matt praises Jorge for his impact on diagnostic processes and tools, noting that his work has greatly enhanced the capabilities of technicians in the bays.

Show Notes

• Hiring New Technicians (00:01:05)
• Challenges of Answering Questions (00:02:19)
• Understanding Air Conditioning (00:03:37)
• The Importance of Foundational Knowledge (00:06:06)
• Richard Feynman's Insights (00:07:43)
• Diagnostic Processes Discussion (00:12:17)
• Jorge Menchu's Impact (00:14:55)
• Crossword Puzzle Analogy (00:16:02)
• Understanding the Diagnostic Puzzle (00:19:28)
• Focus on Relevant Issues (00:20:38)
• Addressing Quick Diagnostic Questions (00:22:58)
• Acknowledging George Menchu's Contributions (00:24:09)
• Effective Problem-Solving Strategy (00:25:26)

Thanks to our Partner, NAPA Autotech

NAPA Autotech’s team of ASE Master Certified Instructors are conducting over 1,200 classes covering 28 automotive topics. To see a selection, go to napaautotech.com for more details.

Contact Information

• Email Matt: mattfanslowpodcast@gmail.com
• Diagnosing the Aftermarket A - Z YouTube Channel

The Aftermarket Radio Network: https://aftermarketradionetwork.com/

Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/

The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton: Weekly Inspiration...

• Watch Full Video Episode
• Buffalo Wing Challenge: https://www.youtube.com/watch?v=zRNmpKMNcCg
• Kansas City Chicken Wing Challenge: https://www.youtube.com/watch?v=gblPWsIA3A4
• Advanced Fundamentals of Krispy Kreme Waffles with Isaac Rodell: https://youtu.be/7v1PwWYHPFA?si=0ZgIyXLtNNinslZO
• The Brakes for Breasts initiative (00:00:01) https://www.brakesforbreasts.com/
• Arrival at the NAPA EV Ready Training Center (00:01:22) Carm and Matt Fanslow arrive at the NAPA EV Ready Training Center in Canton, OH and discuss their impressions of the facility.
• Impressions of the EV training (00:01:44) Matt Fanslow expresses his initial skepticism about the EV training but is impressed by the curriculum, presentation, and passion of the instructor Bill Weaver.
• Importance of safety in EV training (00:03:19) Matt Fanslow emphasizes the importance of safety in working with high voltage systems and the need for a healthy respect for the dangers involved.
• Learning and reinforcing knowledge (00:06:35) Matt Fanslow discusses the importance of learning and reinforcing knowledge.
• Understanding electrical safety (00:08:05) Matt Fanslow and Carm discuss the importance of understanding electrical safety, including concepts like ghost voltage and arc flash.
• The need for respect and preparation in EV business (00:16:28) The need for respect and preparation in entering the EV business, urging shops to be proactive rather than reactive.
• The Evolution of Technology in the Automotive Industry (00:21:56) Highlighting the significance of staying updated with technological advancements and the impact on the automotive industry.
• Preparing for the Future of EVs (00:25:45) Discussion about the proactive approach to preparing for the future of electric vehicles and the need for specialized equipment and training.
• The Complexities and Responsibilities of Working with EVs (00:28:16) Addressing the complexities and responsibilities involved in working with electric vehicles and the need for specialized knowledge and training.
• Safety and Standards in EVs (00:31:55) Discussion about safety precautions and standards in dealing with...

Thanks to our partners, NAPA TRACS and Promotive

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it.  After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business.  Find NAPA TRACS on the Web at NAPATRACS.com

It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.

In this episode of Business by the Numbers, Hunt Demarest, CPA at Paar Melis and Associates, discusses the growing trend of owner financing in the auto repair industry. With high interest rates making traditional bank loans less attractive, owner financing offers a viable alternative for both buyers and sellers.

• Evaluating the benefits and risks of owner financing for auto repair shops.
• Key considerations for sellers, including buyer types and financial stability.
• The importance of environmental assessments in real estate transactions. Strategies for mitigating risks and ensuring successful deals.
• Insights into current interest rates and market conditions for owner financing.

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online: www.paarmelis.com

Email Hunt: podcast@paarmelis.com

Get a copy of my Book: Download Here

Aftermarket Radio Network

• Watch Full Video Episode
• Discussion on Understanding the Science (00:02:03) The importance of understanding the science of electric vehicles and its impact on running a successful automotive business.
• Learning about AC and DC Voltage (00:04:01) Matt Fanslow shares ghost voltage and the importance of understanding AC and DC voltage in automotive repair.
• Safety Precautions and Respect in the Industry (00:05:09) The importance of safety precautions and the need for respect in the automotive industry.
• The Science of Electric Vehicles (00:06:25) The discussion shifts to the science of electric vehicles and the need for deep knowledge and theory in understanding and managing EV technology.
• Evolution of Technology and Its Impact (00:09:35) The rapid evolution of technology and its impact on the automotive industry.
• Applicability of Scientific Knowledge (00:12:01) The importance of using theory and scientific knowledge in managing and operating a successful automotive business is discussed.
• High voltage safety (00:19:07) Discussion about the importance of high voltage safety precautions and the risks of not following proper procedures.
• EV training and tools (00:19:35) Importance of education and proper tools for working on electric vehicles and the potential dangers of not using them correctly.
• Hazards of lithium-ion batteries (00:21:57) The potential dangers of lithium-ion batteries, including fires and explosions, and the importance of proper safety measures.
• Importance of EV training (00:24:43) The significance of attending comprehensive EV training, including safety protocols, and the value of networking with experienced professionals.
• Real-life EV servicing (00:25:59) The benefits of hands-on EV training and the value of experiencing real-life scenarios to prepare for working on electric vehicles.
• Coolant chemistry and safety (00:30:26) Discussion about the importance of proper coolant mixing and the dangers of using incorrect coolant for electric vehicles.
• Importance of theory and education (00:34:22) The value of continuous learning and the importance of understanding the science and technology behind automotive repair.
• Changing perceptions of automotive technicians...

Matt Fanslow and Carm Capriotto, from the Remarkable Results Radio Podcast, discuss their experiences at the NAPA Autotech Training Research Center in Canton, Ohio. They emphasize the importance of accurate and applicable training, lifelong learning, safety, and respect when working with electrified vehicles, and the evolving technology in the automotive industry.

Show Notes

• Watch Full Video Episode
• Inspiration for podcast topics (00:01:49) 
• Assisting other shops (00:02:40) 
• Value of training (00:08:08)
• Understanding EV technology (00:04:20) 
• Accuracy in training (00:09:32) 
• Respecting electricity in EVs (00:15:39) 
• Importance of training and safety protocols (00:17:05) 
• Impact of EVs on the automotive industry (00:20:21) 
• Need for reading service information (00:21:22)
• Educating and preparing for EV repair (00:26:27) 
• Importance of owner's involvement in training (00:31:15) 
• Autonomous Vehicles and Training Challenges (00:32:13)
• NFL Hall of Fame Visit (00:34:36) 

Thanks to our Partner, NAPA Autotech napaautotech.com

Email Matt: mattfanslowpodcast@gmail.com

Diagnosing the Aftermarket A - Z YouTube Channel HERE

Aftermarket Radio Network: https://aftermarketradionetwork.com/

In this episode, Brian and Kim kick off a series on retention marketing, focusing on how auto repair shops can utilize Customer Relationship Management (CRM) systems to enhance customer loyalty and communication. 

They are joined by Greg Rainville from Steer and Chris Enright from Enright Automotive, who share their expertise and experiences.

Thank you to RepairPal for sponsoring The Auto Repair Marketing Podcast. Learn more about RepairPal at https://repairpal.com/shops

Lagniappe (Books, Links, Other Podcasts, etc)

https://www.pendo.io/

https://steercrm.com/ 

How To Get In Touch With The Guest

Greg Rainville : https://www.linkedin.com/in/grainville/

Chris Enright : https://www.linkedin.com/in/chris-enright-4674302ab/

Show Notes with Timestamps

The introduction (00:00:01)

• Introducing the topic of retention marketing and the guests for the episode.

Role of CRM in retention marketing (00:02:10)

• Exploring the role of CRM in retention marketing for auto repair shops and its unique aspects.

Implementing CRM in the business (00:04:04)

• Reasons for implementing a CRM in the business and the benefits of CRM in customer communication and appointment reminders.

Effectiveness of CRM in customer communication (00:05:50)

• Comparing traditional methods of customer communication with the capabilities of CRM and its effectiveness.

Key features of CRM (00:08:50)

• Discussion on the essential features of CRM, including filtering, appointment reminders, and Google reviews.

Impact of Google reviews and content (00:12:13)

• Exploring the impact of Google reviews on customer trust and the importance of customer content in reviews for driving more business.

The importance of digital processes (00:14:51)

• Discussion on the impact of digital processes on customer experience and expectations.

Challenges of traditional methods (00:15:21)

• Comparison of traditional handwritten methods with digital processes and the challenges faced by shops still using old methods.

Resistance to change (00:16:31)

• Observations of resistance to digital inspections and modern CRM systems among some shop owners.

Retention marketing (00:17:16)

• Importance of retention marketing and strategies to keep customers engaged and loyal.

Effectiveness of customer outreach (00:18:49)

• Discussion on the frequency and methods for reaching out to customers to maintain brand loyalty.

Benefits of RepairPal (00:20:52)

• Exploration of how RepairPal can introduce shops to new customers and build trust.

Personalized messaging impact (00:21:16)

• Impact of personalized messages and the importance of keeping customer communication personal and local.

Measuring CRM effectiveness (00:25:58)

• Methods and importance of measuring the effectiveness of CRM-driven marketing...

• Watch Full Video Episode
• The breaks for breasts initiative (00:00:13) Discussion about the initiative started by two shop owners to raise funds for breast cancer research. https://brakesforbreasts.com
• The rise of the mechanical and technology specialist (00:02:28) A language shift in the industry and the importance of recognizing the rise of mechanical and technology specialists. https://remarkableresults.biz/rise
• Transitioning from diagnostics to testing (00:03:04) Discussion about the shift in terminology from diagnostics to testing to improve customer perception and willingness to pay.
• Changing terminology from labor rate to service rate (00:04:09) The importance of changing the terminology from labor rate to service rate and its impact on customer perception.
• Professionalism and perception in the industry (00:05:26) Discussion about the importance of professionalism and perception in the industry and its impact on customer behavior.
• Showing the value of service rates (00:13:24) Strategies for showing the value of service rates to customers, beyond just raising prices.
• Analogies for service rate and cost (00:14:25) Using analogies of fast food restaurants and steakhouses to explain the concept of service rate and cost.
• NAPA Auto Care Apprentice Program (00:17:05) Information about the NAPA Auto Care apprentice program as a solution to the technician shortage.
• Financial calculations and analysis (00:19:26) Murray Voth shares calculations and analysis of a shop's financial data, including occupancy costs, labor rates, and profit margins.
• Determining the right service rate (00:22:05) Discussion on adjusting service rates, parts margin, and other expenses to optimize profitability while considering market competition.
• Challenges and mindset shift (00:30:14) Exploration of the emotional and intellectual barriers shop owners face when making financial decisions and setting service rates.
• Wages and effective proficiency (00:33:40) Analysis of technician wages and the impact of selling work properly on the effective service rate, setting goals for improvement.
• Coaching Gross Profit (00:34:52) Murray discusses coaching gross profit, creating net profit, and making changes to increase revenue.
• Back-End Sales Impact (00:35:48) The impact of service improvements on parts purchases, revenue, and margin.
• Behavior Coaching (00:37:09) Murray talks about coaching to behavior, raising inspections, and the 100% rule for vehicle inspections.
• Facility Service Rate Calculator (00:39:02) Murray offers a facility service rate...

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/autorepairmarketingmastermind

In this podcast episode, Chris Cotton from Auto Fix Auto Shop Coaching offers valuable insights for auto repair shop owners. He emphasizes the importance of reflecting on the first half of the year and preparing for a successful second half by recognizing achievements and overcoming hurdles. Chris provides actionable steps such as revamping marketing strategies, investing in team training, and enhancing customer experience. He stresses the significance of setting clear goals, implementing strategic changes, and maintaining accountability. The episode concludes with gratitude to listeners and a reminder to stay positive and proactive in business endeavors.

• Supercharge Your Auto Repair Business (00:00:01) Introduction to the podcast episode and a brief overview of what to expect.
• Mid-Year Reflection (00:01:06) Reflecting on the first half of the year for auto repair shop owners and setting the stage for the second half.
• Assessing First Half Performance (00:02:11) Reviewing achievements and setbacks in the first half of the year for auto repair shops.
• Overcoming Personal Roadblocks (00:03:15) Identifying and addressing internal barriers that may have held back the shop's performance.
• Setting Clear Goals (00:05:23) Discussing the importance of setting ambitious and measurable goals for the second half of the year.
• Actionable Steps for Improvement (00:07:21) Providing eight actionable steps for auto repair shop owners to consider for business growth and improvement.
• Accountability and Monitoring (00:13:01) Emphasizing the importance of tracking progress, reviewing key performance indicators, and holding oneself and the team accountable.
• Seeking Support for Business Growth (00:15:01) Highlighting the value of seeking support, collaboration, and learning from a network of like-minded individuals for business success.

Connect with Chris:

chris@autofixsos.com

Phone: 940.400.1008

www.autoshopcoaching.com

Facebook: https://www.facebook.com/

AutoFixAutoShopCoachingYoutube: https://bit.ly/3ClX0ae

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