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Friday, July 28 • 4:00pm - 5:30pm
Thriving Against Internet Pricing: 2017 and Beyond
Shopping on the internet is a way of life, and many of the services shop owners provide are becoming a commodity in the minds of shoppers unfamiliar with the profession. The ease of shopping via “smart phone” or tablet makes selling parts at competitive prices way more difficult than in the recent past. Improved vehicle quality and growth of electronics means that parts sold per driven mile is declining. As some people keep their vehicles longer, repairs on those vehicles may be less profitable. For example, installing an engine or transmission: the invoice may be higher than average, but the profit per repair hour is lower, while expenses remain the same or even rise. The two best ways to stop losses, restore and dramatically improve net profit are to improve shop efficiency and employ labor intensive, diagnostic recovery rates and factors that allow you to sell parts at cost without raising your standard labor rate. By knowing what your average gross profit per billed hour is, you know how much profit you lose on low gross profit repairs. You restore the gross profit by selling parts at cost, using a labor intensive (LI) or diagnostic recovery rates (DRR) and factors and menu price the job. This class will show you exactly how to do this and provide a free tool that will do the calculations for you. Then implement and watch your profits soar.

AMi Accredited - 3 credits

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avatar for Vin Waterhouse

Vin Waterhouse

President, The Waterhouse Group
Vincent B. Waterhouse (Vin) is the president and founder of The Waterhouse Group (TWG), an automotive accounting, training and consulting company. He has over 30 years experience in the automotive aftermarket and has written several manuals on asset management. His specialty is working... Read More →

Friday July 28, 2017 4:00pm - 5:30pm EDT
McCormick Place - West Building 2301 S. King Drive • Chicago, Illinois 60616