Auto Repair Business Consulting Belleville NJ

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Mr. James W. Bloom (RFC®), CFP, CHFC, CLU, RFP
(201) 851-4640
PO Box 700
Totowa, NJ
Company
Axiom Financial Planning Group
Qualifications
Years of Experience: 32
Membership
IARFC, MDRT, FPA, AALU, SFSP, NAIFA
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

Data Provided By:
Ms. Joy M. Gould (RFC®), CHFC, CLU
(212) 536-6140
530 Fifth Avenue
New York, NY
Company
Mass Mutual
Qualifications
Education: BA Hunter CollegeMA NYUSobelsohn School of Insurance
Years of Experience: 32
Membership
IARFC, NAIFA
Services
Invoice, Estate Planning, Business Planning, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, BuySell

Data Provided By:
Mr. Vincent M. DAddona (RFC®), CHFC, CLU, MSFS
(212) 701-7903
140 Broadway
New York, NY
Company
Strategies for Wealth Creation & Protection
Qualifications
Education: Masters of Science in Financial Services
Years of Experience: 29
Membership
IARFC, MDRT, FPA, AALU, SFSP, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Seminars Work, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided By:
Cheryl Roshak
(917) 838-7179
New York, NY
Coaching Types
Life, Career, Business
Rates
$75/Hr
Gender
Female
Certifications
ICF certification pending through iPEC, 2011

Data Provided By:
Michael J. Leibowiz (RFC®), CFP, MBA
(212) 701-7914
140 Broadway, 22nd Floor
New York, NY
Qualifications
Education: BBAMBA
Years of Experience: 17
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Asset Protection, BuySell, Compensation Plans

Data Provided By:
Ann Lurie Berlin
(212) 713-0890
New York, NY
Coaching Types
Business, Leadership, Life
Rates
$150/Hr
Certifications
Portfolio Management, NYU Continuing Ed Certific

Data Provided By:
Mr. Thomas M. Schreiner (RFC®), CSA, LUTCF
(973) 258-1711
110 Hillside Ave Ste 201
Springfield, NJ
Company
Knights of Columbus
Qualifications
Education: King's CollegeWilkes-Barre, PA.Double Major = 1)Economics2)Marketing
Years of Experience: 24
Membership
IARFC, NAIFA
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Retirement Planning, Annuities, Life Insurance, Long Term Care Insurance, Charitable Planning, Asset Protection, BuySell, Compensation Plans

Data Provided By:
Julie Melillo
(520) 979-0002
New York, NY
Coaching Types
Business, Career, Relationship
Rates
$200/Hr
Certifications
ICF member NYC chapter, Certified Life Coach.

Data Provided By:
Jason Weberman
(973) 467-6778
Springfield, NJ
Coaching Types
Leadership, Business
Rates
$250/Hr
Gender
Male
Certifications
CPCC

Data Provided By:
Mr. Salim George Salloum (RFC®), MBA
(937) 389-9593
35 Teak Rd
Wayne, NJ
Qualifications
Education: BS , MBA
Years of Experience: 33
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Employee Benefits, Family Offices, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Healthcare Accounts, Charitable Foundations,

Data Provided By:
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Don't Overlook The Easy Dollars To Add To Your Bottom Line

Whether applied to our business or our daily lives, we can either use financial data to improve or make corrections that will change our financial future, or repeat history and continue with the same results.

As I began to review the profit and loss statements from last month, I was reminded of something I learned long ago. Financial data, although very useful, is just a snapshot of the past or history.

I’ve seen so many shop owners over the years have the right tools for the job, and they attend training to improve their technical skills, but when it comes to shop management, they look at the financials as if they were a foreign language. Taking control of some of the numbers can really affect the bottom line.

Breaking the Mold
In general, I think we’re all creatures of habit; we do certain things because they’ve ­become patterns. So while change may not always be easy, it’s necessary for a healthy business. I like to really dissect my fixed costs on an annual basis, in an attempt to make changes that will add dollars to the bottom line. For example, this past year, we changed carriers for both worker’s comp and liability insurance with a savings of almost $6,000.

For another example, we’ve been with the same credit card processing company for 10 years and, upon reviewing the costs, I’m in the process of switching to a company that should save us about $350 per month.

We also changed vendors on some of our shop supplies. We had been paying $23 per gallon for a specific product, and, by switching vendors, we are now buying a similar product for under $10 per gallon. With usage quantities in the five-to seven gallon per week range, this has resulted in a savings of more than $4,000 per year. Any time I can put $6,000 or $4,000 to the bottom line without bringing in a new job, I’m all for that!

These are just a few examples of ways to put more dollars to the bottom line without selling anything extra. They are “hidden” dollars that I would rather see on my bottom line than on someone else’s. With the daily challenges we all face with just trying to rebuild engines, we sometimes overlook these easy dollars.

Re-Evaluate Your Gross Profit Percentage
Another area most shop owners let fall between the cracks is gross profit on parts. Gross profit is the difference ­between revenue and the cost of the part before overhead. Here’s my ­philosophy on gross profits:

– Lower prices do not always equate to increased sales in the auto repair business; and

– Any sales resulting from lower prices will require you to sell more to maintain the same level of profitability.

Generally speaking, if you raised your gross profit on parts sales by 1%, it would require a 4% increase in sales to realize the same gain. Increasing sales is always a desirable scenario, but, in reality, we have more control over...

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Babcox Media • www.babcox.com
3550 Embassy Parkway
Akron, OH 44333
330-670-1234 • (FAX) 330-670-0874