Auto Repair Business Consulting Hamilton OH

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Stephen Hering
(513) 253-2644
Hamilton, OH
Coaching Types
Business
Gender
Male

Data Provided By:
Mr. David M. Stitt (RFC®), CEP, CFP, CHFC, CLU
(513) 424-1656
2507 North Verity Parkway
Middletown, OH
Company
Financial Planning Consultants, Inc.
Qualifications
Education: BS - Finance and BankingMiami UniversityOxford, Ohio
Years of Experience: 40
Membership
IARFC, FPA, NICEP
Services
Invoice, Estate Planning, Business Planning, personal Coach, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Charitable Planning, Education Plan, BuySell, Compensation Plans

Data Provided By:
Mr. Paul D. Nenni (RFC®), CPA
(513) 424-1939
1064 N University Blvd.
Middletown, OH
Company
Nenni Financial Services
Qualifications
Education: BS
Years of Experience: 35
Membership
IARFC, AICPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Returns, Mutual Funds, Annuities, Long Term Care Insurance, Medical Insurance

Data Provided By:
Ms. Carol A. Hoffman (RFC®), MBA
(513) 469-8400
9545 Kenwood Rd Ste 402
Cincinnati, OH
Company
Clear Perspectives Financial Planning LLC
Qualifications
Education: MBA, Finance, Indiana University
Years of Experience: 3
Membership
IARFC, FPA, NAPFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Medical Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Asset Protection, LiabCover, Compensation Plans

Data Provided By:
Paul Cashen
(513) 573-0799
Maineville, OH
Coaching Types
Executive, Business, Entrepreneurship
Rates
$125/Hr
Gender
Male
Certifications
Certified Business and Executive Coach

Data Provided By:
Rob VeVerka
(513) 772-5115
Cincinnati, OH
Coaching Types
Executive, Business, Entrepreneurship
Rates
$475/Hr
Gender
Male
Certifications
UC Executive Coaching Certified

Data Provided By:
Mr. Edwin P. Morrow (RFC®), CEP, CFP, CHFC, CLU
(513) 424-6395
Financial Planning Building
Middletown, OH
Company
IARFC
Qualifications
Education: Centre College of Kentucky and University of Louisville School of Law, plus having served as instructor for many financial planning courses and Practitioner in Residence at Wright State University for three years.
Years of Experience: 46
Membership
IARFC, MDRT, FPA, SFSP, NICEP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Mutual Funds, Mortgage Loans, Precious Metals, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Business Coach, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided By:
Mrs. Linda R. Horn (RFC®), CEP, CSA
(513) 367-1793
9676 Dry Fork Road
Harrison, OH
Company
Capital Concepts, Inc.
Qualifications
Education: BA
Years of Experience: 25
Membership
IARFC, NICEP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Business Coach, Asset Protection, BuySell, Compensation Plans

Data Provided By:
Craig Kopp
(513) 652-6974
Cincinnati, OH
Coaching Types
Performance, Business, Life
Rates
$125/Hr
Gender
Male
Certifications
30 year Broadcasting and Media Professional

Data Provided By:
Mr. Scott A. Lucas (RFC®), CHFC
(614) 840-9770
947 Worthington Woods Loop
Worthington, OH
Company
Lucas Financial Services, Inc.
Qualifications
Education: BS
Years of Experience: 25
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Compensation Plans

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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