What is My Break-Even Point? - Business By The Numbers

09/15/22 • 26 min

What is My Break Even Point? This week Hunt talks about break-even points and how it is important to understand this aspect of your business.

• What is a break-even point and how do I calculate mine?

• What are the major drivers of increasing or decreasing your break-even point?

• How to set proper goals to meet your break-even point?

• How do I calculate my business to not break-even, but actually grow and provide a steady profit?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here

What is My Break Even Point? This week Hunt talks about break-even points and how it is important to understand this aspect of your business.

• What is a break-even point and how do I calculate mine?

• What are the major drivers of increasing or decreasing your break-even point?

• How to set proper goals to meet your break-even point?

• How do I calculate my business to not break-even, but actually grow and provide a steady profit?

The Show is sponsored by:

Shop-Ware on the web at getshopware.com

NAPA Auto Care Repair Shop of Tomorrow at https://repairshopoftomorrow.com

Hunt Demarest, CPA

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here

Previous Episode

Finding Your Shop's Purple Cow with Vic Tarasik - The Auto Repair Marketing Podcast

What would you do if you were driving the backroads passing field after field full of white, black, and brown cows, and all of a sudden you saw a purple cow? You’d probably stop your car, take pictures of the cow, post on social media, and tell everyone you know about it! Don’t you wish people would have that kind of reaction to your auto repair shop? In this episode, we talk to Vic Tarasik of Shop Owner Coach about how to find your shop’s purple cow.

Talking Points

What is a Purple Cow?
Fitting in is failing, its a crowded marketplace, so not standing out equals being invisible
Using your purple cow to attract + retain customers
Using your purple cow to attract + retain technicians
Examples of some famous purple cows

How To Get In Touch With Vic Tarasik

Email - [email protected]

Website - Shop Owner Coach

How To Get In Touch With Shop Marketing Pros

Group - Auto Repair Marketing Mastermind

Website - shopmarketingpros.com

Facebook - facebook.com/shopmarketingpros

Get the Book - shopmarketingpros.com/book

Instagram - @shopmarketingpros

Questions/Ideas - [email protected]

Lagniappe (Books, Links, Other Podcasts, etc)

Purple Cow by Seth Godin

Meta Description - Getting people to notice and talk about your shop is a goal of every shop owner. Join us and Vic Tarasik as we talk about Seth Godin’s book, “Purple Cow”

Thanks to our partner RepairPal. Visit the Web HERE

How to Connect With Kim and Brian

Email: [email protected]

Shop Marketing Pros Website HERE

Meet us at the many industry events throughout the year.

Next Episode

Building a Reliable Mentor/Mentee Program – Marc Brune [RR 780]

Did you know that 70% of change initiatives with new programs/systems will fail due to a lack of leadership commitment? I want to focus on mentor/mentee and apprenticeship programs, which are most critical to our industry’s survival. You can lose your way without processes, procedures, and accountability to mold your apprentice into your shop. Too much talk and not enough action is the breakdown. Luckily for you, my guest, Marc Brune, has a program focused on helping businesses develop entry-level technician mentoring programs with the tech shortage in mind. Marc Brune, Business Development Manager, mentormentee.com Key Talking Points

3 key people- manager, mentor, mentee
People are looking for a plan and someone to help along the path
Preparing for business before entry-level candidate comes on board- do you have the right culture for a positive mentor-mentee atmosphere? Who will be the best person to step in (manager) and mentor (can multitask)
Mentor- teaches not only automotive but also speaks the culture of the shop
Mentoring vs. teaching- teaching is 1-way street, and mentoring is a 2-way street
Assessment- 15 different categories, ranked in order of importance
Educate- set expectations for each role
Execution- have mentee and plan
Plan- having a repeatable plan
Online course specific for each role- 3 hours each
Facilitating growth- offers ASE task lists used in ASE accredited program
Soft skills- customers are a part of your business
Setting goals- mentor and mentee can set specific goals with dates and be able to adjust
Recruit- “the important things are never urgent, and the urgent things are never important.” Have the recruiting mindset.
Execute- daily on the job training plan for mentees and track progress
Analyze and reward- get the data flowing on how the mentor/mentee progressing. Build incentives for growth with both mentor/mentee. Don’t let your mentors go red in their pay.
mentormentee.com

Connect with the Podcast: Aftermarket Radio Network Subscribe on YouTube Visit us on the Web Follow on Facebook Become an Insider Buy me a coffee Important Books Check out today's partners: Set your sights on Las Vegas in 2022. Mark your calendar now ... November 1-3, 2022, AAPEX - Now more than ever. And don’t miss the next free AAPEX webinar. Register now at AAPEXSHOW.COM/WEBINAR. Shop-Ware: More Time. More Profit. Shop-Ware Shop Management getshopware.com