Collision shop owners are excellent technicians but are often less skilled as business owners. While there are a lot of resources for the technical side, there aren’t as many for the entrepreneurial side.
With hybrid and electric vehicles and more sophisticated modern cars on the road, how can an independent collision repair shop owner survive and thrive in the future?
Bob Miller, Independent Automotive Trainer at Train Them Now, LLC, joins Matt DiFrancesco in the Your Business, Your Life podcast. They talk about what’s going on in the automotive industry today and how Bob is helping shop owners become better business owners through his training.
Are you looking for financial expertise to help you build a business roadmap and bring together the family to come up with a clear vision? Schedule a free 20-minute conversation with Matt DiFrancesco.
About Our Guest
Bob Miller’s career spans 34 years. He began in repair facilities, from independent shops to dealerships. Then, about 15 years ago, he decided to start his own company.
As a specialist in automotive training, Bob has developed online, classroom, and hands-on training covering management profitability, customer service, and technical aspects. In addition, to meet the rapid pace of change in the automotive repair industry, he conducts and supervises training to enhance the student’s productivity and quality of work.
Bob loves to teach because he enjoys “seeing the light bulb go on” in his student’s eyes when they pick up a concept or learn something new. He currently has a following of people from across the country, which has encouraged him to continue doing what he does to this day.
The Need To Become More Than A “Technician”
A lot of the shop owners are excellent technicians. That’s because most of them grew up in the shop, either bought it or started their own. However, it’s quite common that these technicians are less skilled as business owners. While they have the resources on the Technical, they lack the resources to be the kind of owner or entrepreneur that they need to be.
With so many changes and rapid growth in the automotive repair industry, these owners will need to adapt and become more than a technician working in the business. As they move forward, these family businesses must work on the development and the entrepreneurial mindset.
Think Outside The Box
By bursting the bubble and pivoting towards upgraded practices, you as a business owner can create multiple benefits for yourself and the business. For instance, by implementing new ideas, you can create customer loyalty. Repeat purchases fuel the business and are crucial for growth.
Taking care of the customer, making repeat customers out of them, spreads the word about your business. So, try to bring efficiency to the operations. Make the client experience seamless so that they think of you whenever they think about visiting a technician. Not only do they want your expertise, but they are so satisfied with the experience that they will not switch and go to the competitor.
Lack of Technical Skills
The market’s problem of less technical persons isn’t limited to the automotive industry. It’s any specialized skills, plumbing, electricians, carpenters, bricklayers, etc. There is a deficiency of talent. The technical schools are not seeing the numbers as they did a few decades ago. One primary reason is that these skills are not valued as college degrees. In addition, the general understanding is that these are time-consuming, energy-draining, and low-paying skills.
However, it isn’t true. Becoming the best technician with a solid understanding of modern machinery, especially in the automotive industry, can pay a lot. It is a lucrative career that can help you build a family business that you can transform into a multigenerational legacy.
Advice For Business Owners
Working “on the business” to thrive in the coming years is crucial with the constantly changing business environment. First of all, business owners need to build repeat customers. Secondly, they need to grow their own technicians and offer a career path to them. And thirdly, they need to look at the now available services that weren’t available ten years ago, for example, maintenance. And so the customer comes in for a simple oil change.
You can strike a conversation and ask them if they follow the maintenance schedule that, for example, Ford specifies for Taurus. Then, you stop and see what his answer is. And then, depending on his response, you go in the appropriate direction with them with your dialogue. This is how you can encourage the customers to get more of your services, increasing your chance of attracting more traffic.
Contact HighLift Financial Today!
Businesses need someone who can help them make smart financial decisions that will set them up for success in the future. Financial experts can help businesses save money, make money, and plan for the future.
Additionally, businesses need someone who can help them pass down their legacy to the next generation. Financial experts can help businesses create a plan to transfer their business to the next generation so that the business may continue to thrive for many years to come. Schedule a free 20-minute conversation with Matt DiFrancesco today!
Know What Specialists Have To Say!
HighLift Financial constantly engages with industry specialists who discuss current practices, trends, and strategies that can help grow a business. Here are some articles that you might be interested in reading:
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- Highlift Financial – Aligning Your Family and Business for Generational Wealth
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Disclaimer
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.