AutoShopOwner

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Five Proven Tips to Improve Your Bottom Line

AutoShopOwner

Five Proven Tips to Improve Your Bottom Line By Joe Marconi, an Elite Blog - A recent Small Business Administration (SBA) report revealed that one of the main reasons for small business failure is due to a lack of financial knowledge. Another survey, also conducted by the SBA, found that 83% of failed business owners stated that their failure was due to cash flow problems.

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How to Simplify Tax Season for Your Auto Repair Shop This Year

AutoShopOwner

Its no secret that time is limited as an auto repair shop owner. Between diagnosing complex engine issues to managing your mechanics and creating a five-star customer experience, theres often little time left to focus on your financials. But what happens when tax season rolls around, and youre forced to buckle down on organizing your records and preparing your returns?

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Optimizing Your Parts Inventory to Reduce Costs

AutoShopOwner

When it comes to running a profitable auto repair shop, every dollar counts. One of the easiest places to lose moneyor save itis your parts inventory. If youve ever opened a drawer and found a dusty part you forgot you had (or ordered twice), it might be time to take a closer look. Lets walk through how smart inventory management can help you reduce costs, free up cash, and improve overall auto repair business profitability.

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I am new in business. Need advice to increase profits.

AutoShopOwner

Hi my name is Zenas and I am 26 years old from Alberta, Canada. I started my own automotive repair shop in December 2023. After running it for 1 year I made a little bit of profit. I needed some advice on how I could increase it. Its a 3 bay shop with two 2 post hoists and one 4 post hoist with alignment. I am the only mechanic in the shop as I can't afford to hire anyone at this point.

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Bookkeeping Steps to Ensure a Smooth Financial Year-End

AutoShopOwner

There’s less than one month left in 2024. Is the bookkeeping for your automotive business up to date? If you’re anything like us, you feel like this year flew by in the blink of an eye. It’s time to ensure that your books and reports are squared away as this year comes to an end. In this blog post, we share important steps to start the new year on a healthy financial footing.

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How To Set Up A Chart of Accounts

AutoShopOwner

As an auto repair shop owner, you manage a multitude of tasks daily. From overseeing repairs and maintaining customer relationships to running a team of employees, financial management is often the last thing you want to think about. If this sounds like you, we have a solution to keep your finances on track! A well-organized Chart of Accounts (COA) is essential for navigating the complexities of your business's finances.

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How to Adjust Your Auto Repair Shop Business Plan for the Second Half of the Year

AutoShopOwner

If you’ve already done a mid-year financial checkup, you’re ahead of the game. But knowing your numbers is just the beginning. The next step is using those insights to revise your business strategy and strengthen your shop’s game plan for the rest of 2025. Whether you had a strong first half or hit a few bumps in the road, now is the ideal time to adjust your business plan to reflect your current reality and your future goals.