4-Day Work-Weeks, Labor Rates, and Parts Pricing in the Auto Repair Industry with Chris Cotton
In this episode, Jimmy Purdy is joined by Chris Cotton, a recognized expert in auto shop coaching. Chris talks about the intricacies of automotive parts pricing, revealing how list prices often mislead customers. Jimmy and Chris also discuss the transformative impact of raising labor rates on profitability, stressing how many shops undervalue their labor. Lastly, Chris recommends a campaign to announce changes in shop hours for better training schedules, emphasizing the benefits for both customers and employees.
00:00 Consider consumer preference when naming an auto shop.
08:08 Great free information helped me move forward.
15:40 Entrepreneur ignores business plan, faces failure.
20:34 Dealers can increase margins by ignoring the list.
21:43 Honesty and integrity are essential in business.
28:55 Misinformation and clickbait in automotive repair.
35:47 Information gathering and implementation, not just copying.
38:30 Inaccurate shop management systems mess up labor costs.
45:11 Honest estimates only, bring your car in.
52:56 Effective communication is the key to success.
55:57 Auto shops need efficient service advisors for success.
01:03:08 Technicians are leaving the dealership, and there is an urge to support independent shops.
01:09:33 Implementing a 4-day work week boosts productivity.
01:13:14 Prepare for change with proactive communication strategies.
01:20:06 Constant content updates for shop owner improvement.
01:21:28 Provide income statement and business summary for review.
00:00 Consider consumer preference when naming an auto shop.
08:08 Great free information helped me move forward.
15:40 Entrepreneur ignores business plan, faces failure.
20:34 Dealers can increase margins by ignoring the list.
21:43 Honesty and integrity are essential in business.
28:55 Misinformation and clickbait in automotive repair.
35:47 Information gathering and implementation, not just copying.
38:30 Inaccurate shop management systems mess up labor costs.
45:11 Honest estimates only, bring your car in.
52:56 Effective communication is the key to success.
55:57 Auto shops need efficient service advisors for success.
01:03:08 Technicians are leaving the dealership, and there is an urge to support independent shops.
01:09:33 Implementing a 4-day work week boosts productivity.
01:13:14 Prepare for change with proactive communication strategies.
01:20:06 Constant content updates for shop owner improvement.
01:21:28 Provide income statement and business summary for review.
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