Two Day Owner Manager Business Management Course
Audience: Independent Garage Business Owners and Managers
Description: This intensive two day training will take you beyond the traditional numbers you have been shown in the past. There is a defined way to look and analyze your shop numbers that few shops within the industry have ever been exposed to. Once you see our sector of the industry and your business numbers this way, you will never look back.
Duration: 2 x 8 Hour Sessions
- Overview of where the Independent sector has come from and what are the future trends and concerns that the Independent Sector must address
- What does the new Independent Sector business model look like that is required for profitability and growth
- Understanding the job description for 'the boss' in today’s Independent shop
- Recognizing the building blocks required to create proper change within your business
- Shop Financial Statement Analysis from a one bay to twenty bay operation
- operating guidelines and objectives to achieve, and sustain, a profitable operation
- Reviewing the latest statistics for Independent shops and what trends they are telling us
- Gross Profit definition, analysis of a business, and establishing Management guidelines
- Breakout session - managing a gross profit strategy that maximizes the shop's bottom-line profitability
- John Good Break-out session -----Understanding Gross Profit and Gross Profit Mix in a modern shop and the effect on Net Income
- Breakout session - focusing on achieving and measuring specific productivity, not just activity - what is the difference to the shop's bottom line
- What is Competitive Pricing? How does it work in developing Profit on hard goods?
- How does competitive pricing on the labour component really work?
- How many customers can a shop afford to lose in a "worse case scenario" before it affects the bottom line
- Analyzing the profitability of vehicle fluid servicing-how to calculate how much each service brings to the bottom line
- Employer Burden - what is it, how much is it? and what does it mean to the cost of my business?
- Site efficiency measurement - what is it and what does this measurement tell me about my business
- Breakout session - measuring a businesses site efficiency number in the maintenance department of the business
- Perception vs Reality of actual hour wage cost - the math does not lie
- Measuring actual technician wages paid vs actual profit generated - how to calculate
- How to calculate your daily car count required to achieve desired rofitability
- How to calculate the actual number of invoices a technician requires each day
- Improving your site efficiency number - how is it done and what does it mean to the shop’s bottom line
- Calculating site efficiency in other labour departments - why is it important?
- Building a proper Business Profit Plan to achieve the desired business profitability and personal financial lifestyle goals
- Breakout session - understanding Gross Profit Management and the affect on business sales volume
- Labour rate profitability - how much does the business net per hour from our current door rate?
- How to calculate the net profit on a repair order before you close it out?
- Diagnostic labour - how does that work now?
- How many diagnostic hours are available for billing in our shop - how do we calculate that?
- Understanding why 5 different labour rates are now required in a shop and how they work?
- Installing a full company profit sharing plan - how does it work and how is it calculated
- Staff retention - how can we retain the best staff and at the same time give them a great personal career and life in our shop
- Conclusion - Building Business Success - The Key Attributes to moving forward?
Notes: Student Requirements
- Students are to bring a portable calculator for use throughout the course
- Bring 3 to 5 completed repair orders from their files to work with privately at one of the breakout sessions.
- If at all possible students should bring their Business Year-end Financial Statement prepared by their Accountant to work with privately on their own.
- Bring the number of invoices/repair orders written for the past year.
- Bring the total labour dollars billed for the past year.