Auto Repair Business Consulting Durham NC

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Charles E. Potter (RFC®), CHFC, CLU
(919) 383-7421
1816 Front Street #220
Durham, NC
Company
The Potter Financial Group
Qualifications
Education: BS in Marketing
Membership
IARFC, FPA, AALU
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Retirement Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, BuySell, Compensation Plans

Data Provided By:
Christine Brunet
(919) 529-4161
Raleigh, NC
Coaching Types
Business, Career, Leadership
Rates
$75/Hr
Gender
Female
Certifications
CPC

Data Provided By:
George H. Bode (RFC®), CEP, CFA
(919) 846-2633
8202 Lloyd Allyns Way
Raleigh, NC
Company
George H. Bode & Associates, LLC
Qualifications
Education: BA
Years of Experience: 29
Membership
IARFC
Services
Invoice, Estate Planning, Business 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, Charitable Planning, BuySell, Compensation Plans

Data Provided By:
Mr. James M. Robinson (RFC®), CSA
(704) 786-6282
5721A Monticello Dr
Concord, NC
Company
Retirement Asset Solutions, LLC
Qualifications
Education: College of William and Mary-BA-PsychologyEast Carolina Univ-Mid- East Area StubiesUS Army War College
Years of Experience: 10
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Retirement Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, Business Coach, Asset Protection, Compensation Plans

Data Provided By:
Christine Brunet
(919) 529-4161
Raleigh, NC
Coaching Types
Business, Career, Leadership
Rates
$75/Hr
Gender
Female
Certifications
CPC

Data Provided By:
Mr. William A. Harmon (RFC®), CFP, RFP
(919) 968-1177
2210 Holly Circle
Chapel Hill, NC
Company
Vita Planning
Qualifications
Years of Experience: 28
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, 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, Medical Insurance, Charitable Planning, Education Plan, Compensation Plans

Data Provided By:
Mr. Nelson M. Kelly (RFC®), CHFC, CLU
(919) 270-2553
3737 Glenwood Ave
Raleigh, NC
Company
Winthrop Capital Management
Qualifications
Education: B.S., University of Tennessee -- Economics/BusinessCLU, ChFC, RFC
Years of Experience: 26
Membership
IARFC, SFSP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Charitable Foundations, BuySell, Compensation Plans

Data Provided By:
Mr. Peter J. DArruda (RFC®), CSA
(919) 657-4201
1135 Kildaire Farm Rd Ste 200
Cary, NC
Company
Capital Financial Advisory Group, LLC
Qualifications
Education: UNC-Chapel Hill
Years of Experience: 19
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, CommOptions, Collectable Coins , Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Business Coach, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, C

Data Provided By:
Mr. Harvey Stephen Bailey (RFC®), CEP, CSA, LUTCF
(704) 563-6844
125 Floyd Smith Drive, Suite 250
Charlotte, NC
Company
HB Financial Resources, LTD
Qualifications
Education: Attended Embry Riddle Aeronautical University,Graduated from Southwood College. Was Financial services instructor for three years at Central Piedmont College.
Years of Experience: 37
Membership
IARFC, MDRT, NAPFA, NAIFA, NICEP
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, Seminars Work, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, Collectable Coins , CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Business Coach, Charitable Planning, Healthcare Accounts, Charitable F

Data Provided By:
Mr. Charles E. Trent (RFC®), CFP, CHFC, CLU, EA, LUTCF
(704) 365-3122
6525 Wheeler Drive
Charlotte, NC
Company
Gardner and White
Qualifications
Education: MBA
Years of Experience: 26
Membership
IARFC, FPA, SFSP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, LiabCover, Compensation Plans

Data Provided By:
Data Provided By:

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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3550 Embassy Parkway
Akron, OH 44333
330-670-1234 • (FAX) 330-670-0874