Small biz likes credit unions over big banks: Survey
Auto Service World
FEBRUARY 22, 2024
Canadian small businesses continue to be more satisfied with credit unions than with the Big Five banks in terms of overall service quality.
Organizing The Financial Records for a Smooth Tax Filing
AutoShopOwner
JANUARY 29, 2025
Bank Statements Bank statements provide a record of all transactions that pass through your business bank accounts, including deposits, withdrawals, and electronic transfers. Remember to reconcile your bank statements regularly to ensure accuracy. sales invoices, purchase invoices, bank statements).
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From the Magazine: Tuning into your business
Auto Service World
JULY 8, 2025
Despite signs of broader economic deceleration, largely tied to ongoing global trade tensions, the Bank of Canada held its policy interest rate at 2.75% during its mid-April meeting. I’ve seen a growing number of companies formalize these evaluations into structured frameworks to manage risk and maintain their positioning.
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How to Simplify Tax Season for Your Auto Repair Shop This Year
AutoShopOwner
APRIL 2, 2025
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. Keep your business bank accounts and credit cards strictly for business transactions. Its no secret that time is limited as an auto repair shop owner.
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Should you start a new shop or buy an existing one?
Auto Service World
DECEMBER 19, 2024
A lot of banks aren’t going to give [that loan], Demarest said. The only shop that may be on the market may be one thats too successful. For example, say the shop is netting $1 million a year. With a top-end multiplier, that shop would be valued at $3 million. Do you have that cash?
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Mastering Cash Management
AutoShopOwner
SEPTEMBER 20, 2023
In the world of business, cash flow management is a key element of financial success. A business’s ability to effectively manage the cash coming in and out of the business will ultimately determine whether it remains successful and profitable or struggles to keep its doors open. What Is the Strategy for Cash Management?
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How to Promote Your Auto Repair Shop’s Community Involvement Without Bragging
Shop Marketing Pros
APRIL 24, 2025
Whether its sponsoring a local sports team, supporting a food bank, or funding a scholarship, community involvement for auto repair shops is a powerful way to make an impact and build relationships. Instead of saying: “We donated $1,000 to the local food bank today. Lets be real. Giving back to your community feels good.
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Why wages will keep going up
Auto Service World
JANUARY 19, 2024
Thomas Feltmate, senior economist at TD Bank told attendees of the Canadian Black Book Talk Auto 2023 … The post Why wages will keep going up appeared first on Auto Service World. The unemployment rate is currently too low in Canada and affecting many areas of the employment sector, an economist told automotive professionals recently.
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Canadians hanging on to their savings
Auto Service World
FEBRUARY 2, 2024
Thomas Feltmate, senior economist at TD Bank, noted that Canadians … The post Canadians hanging on to their savings appeared first on Auto Service World. Households in Canada have accumulated an unprecedented amount of savings during the pandemic. But unlike the U.S.,
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PAID: Timing chain kit market offers growing business opportunity for jobbers
Auto Service World
JUNE 30, 2025
“We are regularly expanding our line of precision-engineered aftermarket kits and have coverage for almost 200 million vehicles on the road,” said Jerry Reeves, head of product management at Dayco, who added that the company is launching 60 part numbers this year alone. Watch the video here.
Car Troubles 101: Managing Unexpected Towing Bills on a Tight Budget
Auto Service World
JANUARY 11, 2025
Heres how you can manage towing expenses effectively without breaking the bank. Steps to Handle Towing Bills When Funds Are Tight When unexpected towing bills hit and your budget feels stretched to its limit, taking the right steps can make managing the cost much less overwhelming.
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How More Auto Lenders Are “Pledging” Electronic Loan Assets
AutoSuccess
MARCH 12, 2025
This process, while not new, has taken on renewed importance in the digital age, as banks and credit unions navigate the complexities of electronic asset management and seek to leverage their loan portfolios more effectively. These loans can represent a significant portion of a bank’s asset portfolio. Across the U.S.,
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Protecting Your Auto Repair Shop from Phishing and Other Attacks
Repair Shop Websites
DECEMBER 2, 2024
As a business owner or manager, you have to be aware of what’s happening around you and alert to any potential manipulative or misleading attacks at all times. They use that information to access your email, bank and other accounts, or they sell […]
Is Your Chatbot Helping You Manage Risk Effectively?
AutoSuccess
JUNE 11, 2025
Today, there are also specific steps AI is taking in the overall risk management and customer experience aspects of lending, and this has stark implications for lenders and auto dealer partners as well. Wells Fargo exemplifies the practical application of AI in everyday banking tasks. appeared first on AutoSuccessOnline.
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New sales market sees first real setback
Auto Service World
OCTOBER 10, 2024
Andrew King, managing partner at DesRosier, noted two reasons for the September market decline. As the market moves forward, DesRosiers will closely monitor several key economic indicators, including employment data, Consumer Price Index (CPI) data and a Bank of Canada interest rate announcement.
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Alt-fuel vehicles don’t necessarily have to break the bank
Auto Remarketing
MAY 1, 2024
“Costco Auto Program recognizes that for many car owners, vehicles are an extension of their own personality and style,” Costco Auto Program general manager Jay Maxwell said in a release. The post Alt-fuel vehicles don’t necessarily have to break the bank appeared first on Auto Remarketing.
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AutoTech Investments Hosts High-Powered Breakfast at NADA 2025
AutoSuccess
JANUARY 10, 2025
. “ATI brings together the industry’s most influential decision-makers from across the automotive ecosystem, including dealers, OEMs, entrepreneurs and media,” said April Rain, chief magic officer of Digital Rain and ATI event manager. “This event creates valuable networking connections that generate deals.
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Healey Brothers’ Foundation Donates $25K to Hudson Valley Food Bank
AutoSuccess
OCTOBER 24, 2023
Healey Brothers’ Driven to Give Foundation has donated $25,000 to the Food Bank of the Hudson Valley. The Food Bank of the Hudson Valley, a phenomenal charity, is extremely efficient in its use of donor dollars and goods. Food Bank Director Sara Gunn was gratified by the substantial donation. Learn more at HealeyBrothers.com.
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AUTOVATE 2024 Announces Closing Keynote Speaker Peter Guber
AutoSuccess
NOVEMBER 19, 2024
The 8 th annual AUTOVATE conference, created by Cliff Banks of The Banks Report, will be hosted Dec. This year’s AUTOVATE speakers include Gary Gilchrist, the 2024 NADA chairman and industry relations Chevrolet liaison; Eric Denlinger, managing director at TD Cowen; and Alexi Venneri, co-founder and CEO of DAS Technology.
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NextGear Capital Adds New Executive to Leadership Team
AutoSuccess
MARCH 3, 2025
Rose Bryant will join the team as assistant vice presidentof corporate operations and risk management on March 10, 2025, overseeing all aspects of the companys flooring, titles and records, customer care and risk departments. Bryant has been with Cox Automotive since 2017.
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From the Magazine: ‘Helping people out is the big thing for us’
Auto Service World
JANUARY 14, 2025
For more than 20 years, he managed garages for others. When we were kids, we lived at the food bank. He got offered a job with what as then an a engine rebuilder, made the jump and never looked back. But Craig didnt always envision himself as a business owner. So it’s just time to give back.
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Small but Mighty! A Guide to the Eli Zero for Those in Automotive Training
Automotive Training Centre
JULY 5, 2024
The vehicle’s affordable price point and practical design make it an attractive option for city dwellers looking to reduce their carbon footprint without breaking the bank. Understanding battery management, electric drivetrains, and the integration of modern infotainment systems will be crucial.
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How to Prepare Your Auto Repair Business for Financial Uncertainty
Auto Service World
SEPTEMBER 7, 2024
You just need effective financial management, strategic planning, and the right resources to navigate these hurdles successfully. Manage Cash Flow Cash flow is the backbone of any business, including auto repair shops. With these tips, your auto repair business will stand the test of time.
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Ditch the Shuttle Van: How On-Demand Rides Are Changing Fixed Ops for Good
Solera
FEBRUARY 17, 2025
Managing traditional shuttle services drains resources, time, and money that could drive your dealerships growth. Between managing drivers, maintaining vehicles, and juggling customer schedules, your team spends valuable energy on transportation logistics instead of focusing on what matters most selling and servicing vehicles.
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Service Suite Shuttle OnDemand
Solera
FEBRUARY 17, 2025
Managing traditional shuttle services drains resources, time, and money that could drive your dealerships growth. Between managing drivers, maintaining vehicles, and juggling customer schedules, your team spends valuable energy on transportation logistics instead of focusing on what matters most selling and servicing vehicles.
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EV World: The importance of a healthy used EV market
Auto Service World
JANUARY 17, 2025
Retriev Technologies in Trail, British Columbia, offers end-to-end battery management services, including recycling lithium-ion batteries and safe disposal. Loop Industries in Montreal, Quebec, recycles plastic from EV battery casings, loop complements the EV ecosystem by managing non-metal components.
AI Auto Loan Approval for Fast Vehicle Financing
AutoSuccess
APRIL 28, 2025
. “Not only are we successfully leveraging AI to get a more accurate, real-time view into a borrowers credit worthiness, but were also leveraging AI to completely automate the verification process, said Lisa Toerner, vice president of product management at Lendbuzz.
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Start a Successful Trucking Business in Today’s Hot Consumer Market
Solera
JUNE 12, 2023
Whether you plan to be an owner-operator or a non-driving fleet manager, the Federal Motor Carrier Safety Administration mandates you get a valid commercial CDL license. Also, credit unions’ business loan requirements are usually not as strict as large banks. Open a business bank account.
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The Biggest Mistake of Management
Institute for Automotive Business Excellence
JULY 7, 2022
How can you stop making the biggest mistake of management: assuming that your employees know what to do? If you ever hear yourself saying this, then you are committing one of the biggest mistakes that ownership and management tends to make. In most cases, the employee is just as frustrated as the manager or owner.
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Choosing the Right Dealership Document Management Solution
AutoSuccess
JULY 3, 2024
One key area that can significantly impact operational efficiency is document management. Effectively managing the vast number of documents produced in a dealership ensures smooth operations, compliance and improved customer service. In our fast-paced automotive industry, efficiency and organization are crucial.
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Here’s what to do at AAPEX and SEMA
Auto Service World
OCTOBER 23, 2024
Contact, Chris Kalousek from AAPEX Event Management at chris.kalousek@aapexshow.com to inquire. At SEMA, 2025 Economic and Job Market Outlook With Smart Ideas to Solve for Workforce Shortages will be hosted by Jeff Korzenik, chief economist at Fifth Third Bank. requires a separate ticket from the show. 5, from 1:45 p.m. to 3:15 p.m.
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MindGames Winners Treated Like Royalty This Week
Tomorrow's Technician
MAY 8, 2024
Even heartier congratulations if you managed to be randomly selected from all those correct entries to be crowned a champion this week. The Royal Wave is being thrown in your general direction if you were lucky enough to understand the clue for the latest Guess the Tool Contest. The correct answer was Air Compressor.
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How Profit First Helped Turn An Entrepreneur Into A Businessman
Shop Marketing Pros
JULY 23, 2024
I also got my financial and business management skills from him, and that was a disaster. On top of that, my wife and I were terrible at managing our personal finances. One day I was opening the mail at my shop and I got a sales letter from a company called Management Success. It could have been an empire. I wanted that.
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Cybersecurity Isn’t My Job
AutoSuccess
APRIL 18, 2025
Is the cybersecurity problem ITs baby or does it rest with the managed services or DMS provider? Nevertheless, C-level executives must actively guard and take responsibility and accountability for the businesss crown jewels: the data flowing from service and sales to F&I to the general office to vendors and banks and customer cell phones.
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High School Club for young women get their hands dirty at Girls Auto Clinic
Girls Auto Clinic
APRIL 9, 2023
They also heard from Patrice Banks about her journey from auto airhead to shecanic and the importance of having women in the automotive industry. Mariel Young, Girls Auto Clinic Shop Assistant Manager The Leading Ladies didn’t leave without getting their hands dirty, of course!
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Reducing Costs and Increasing Profits in the Auto Service Industry
AutoInc.
JANUARY 31, 2025
Understanding and managing the high expenses associated with the auto service and repair industry is complex. Collaborating with Financial and Business Experts Working with accountants, local banks, and business professionals provides valuable insight into managing your finances and streamlining operations.
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Freeze Frame Diagnostics
Tomorrow's Technician
MAY 13, 2024
These PIDs focus on the how the engine burns fuel and manages emissions. If the code P0171 for bank one is too lean, and if the criteria for the code are set again, it will overwrite the previous freeze frame data. In general, the newer the vehicle, the greater number of PIDs in a freeze frame. What is contained in freeze frame data?
Leading the Green Revolution: Solera and Simplicity Car Care Hosted Industry-First Automotive Sustainability Summit
Solera
JULY 31, 2024
He reminded us that “We, as industry leaders, play a critical role in championing change for sustainability” The keynote speaker, Helle Bank Jorgensen, Founder and CEO of Competent Boards, provided a global perspective on sustainability efforts.
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WOCAN making History!
Girls Auto Clinic
FEBRUARY 5, 2021
Amongst the founders is our very own, Chief #sheCAnic Patrice Banks who is the founder and CEO of Girls Auto Clinic! Erikka Wells is a Sales and Marketing Manager with over 15 years of experience within the automotive field, while also being a motivational speaker.
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Hamilton’s Cash-for-Cars Boom: What Locals Are Doing with Their Old Vehicles
Auto Service World
APRIL 26, 2025
Locals get instant payments without any delay at the moment of signing papers; Businesses get cars at a good price and avoid extra costs for bank transfers. The best thing about such sales, however, is that a car owner can manage their cars value and negotiate in real time about the price.
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Succession Planning – How Hard Can It Be?
Brake & Front End
OCTOBER 7, 2024
Rex’s story is a common one in the automotive industry: a technician works his way up to management and eventually aspires to own the shop. However, the transition from managing a shop to owning it brings a new set of challenges that many are not prepared for. Rex’s approach to mentorship has also paid off.
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Les Schwab Tire Centers acquires Four States Tire & Service
Tire Review Magazine
DECEMBER 18, 2024
.” “This acquisition underscores Les Schwab’s commitment to expanding its footprint while maintaining the high standards that both organizations are known for,” said Giorgio Andonian, managing director at Focus Investment Banking.
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Implementing Credit Card Surcharging without Risking Your CSI
AutoSuccess
MAY 15, 2025
If youre considering surcharging, the biggest mistake you can make is assuming its simple, says Amberly Allen, founder and managing partner of Dealer Merchant Services. Every service advisor, cashier and manager is trained with word tracks like: Tim, thank you for coming to ABC Toyota. How would you like to pay?
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Motorlease Strategically Positions Itself for the Future
Automotive Fleet
OCTOBER 30, 2023
Motorlease announces acquisition by 1st Financial Bank USA to expand its credit lines and continue to operate as a privately held, family-owned provider of fleet management services.
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