Auto Repair Business Consulting Towson MD

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Stephen A. Jolly (RFC®), CSA
(757) 499-9100
8501 Lasalle Rd Ste 303
Towson, MD
Company
Coastal Financial Corporation
Qualifications
Education: BS
Years of Experience: 23
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Family Offices, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, BuySell, Compensation Plans

Data Provided By:
Jennifer Bridge
(410) 616-9500
Lutherville Timonium, MD
Coaching Types
Life, Spirituality, Business
Rates
$75/Hr
Gender
Female
Certifications
Coach U CEG
Membership Organizations
ACC

Data Provided By:
Howard R. Pinson (RFC®), CFP, CLU, CSA, LUTCF
(410) 580-1212
1700 Reisterstown Rd., Suite 207
Baltimore, MD
Company
ING Financial Partners, Inc.
Qualifications
Education: Bachelor of ScienceCertified Financial Planner, PractitionerRegistered Financial ConsultantCertified Life UnderwriterLife Underwriter Training Council Fellow
Years of Experience: 21
Membership
IARFC, MDRT, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Healthcare Accounts, BuySell, Compensation Plans

Data Provided By:
Mr. Allen J. Kampf (RFC®), CSA, MBA
(410) 527-1171
954 Ridgebrook Road, Suite 300
Sparks, MD
Company
First Financial Group
Qualifications
Years of Experience: 13
Membership
IARFC, MDRT, AALU
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement 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, Asset Protection, BuySell, Compensation Plans

Data Provided By:
Alexander Alperovich
(410) 833-0777
Reisterstown, MD
Coaching Types
Entrepreneurship, Business, Money and Finance
Rates
$97/Hr
Gender
Male
Certifications
Coach University

Data Provided By:
Deborah Gallant
(805) 991-9660
Baltimore, MD
Coaching Types
Entrepreneurship, Business, Performance
Gender
Female

Data Provided By:
Mr. Alan P. Stokes (RFC®), CPA
(410) 560-2667
7 Deneison St
Timonium, MD
Company
Alan P. Stokes & Assoc, Inc T/A Century Accounting & Financial Services
Qualifications
Education: Graduate of University of Baltimore, 1975, with a Bachelor's Degree in Accounting;Sat and passed CPA exam in 1982;Series 6, 63, & insurance licensed;on going required CPE education/credits
Years of Experience: 12
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, BuySell

Data Provided By:
Mr. Marc W. Mazer (RFC®), EA
(410) 902-8240
300 Redland Court,
Owings Mills, MD
Company
Marc Mazer Wealthcare Advisors
Qualifications
Education: BS Accounting -University of BaltimoreMS Taxation -University of Baltimore
Years of Experience: 20
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Education Plan, Asset Protection

Data Provided By:
Mr. Randy H. Packett (RFC®), CEP, CSA
(410) 877-0027
2309 Bel Air Road, Suite B
Fallston, MD
Company
Chesapeake Senior Solutions, Inc.
Qualifications
Years of Experience: 28
Membership
IARFC, MDRT, FPA, NAIFA, GAMA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Business Coach, Charitable Planning, Education Plan, Healthcare Ac

Data Provided By:
Mr. Allen J. Kampf (RFC®), CSA, MBA
(410) 527-1171
954 Ridgebrook Road, Suite 300
Sparks, MD
Company
First Financial Group
Qualifications
Years of Experience: 13
Membership
IARFC, MDRT, AALU
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement 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, Asset Protection, BuySell, 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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Babcox Media • www.babcox.com
3550 Embassy Parkway
Akron, OH 44333
330-670-1234 • (FAX) 330-670-0874