Monitoring Auto Repair Shop Cost Management Efforts

Monitoring Auto Repair Shop Cost Management Efforts

Monitoring efforts at cost reduction will ensure their effectiveness as well as maintain focus on this important issue. Widening profit margins increases profitability and contributes to long term success. Often the demands of day to day business operations take up practically all of a person’s time but cost reduction and process improvement result in more available time. So finding the time to work on cost management is time well spent. The following areas should be evaluated on an ongoing basis:

Evaluate Marketing Costs – Know your customer retention rate and the amount of money spent on retaining existing customers. Knowing the retention cost per customer will contribute to setting prices and developing operating plans. Just as important is the cost of customer acquisition. Taking the dollars spent on advertising for new customers and dividing it by the number of new customers earned within a given time period will determine the cost of acquiring a new customer.

Grade Sales Efficiency – Sales costs are largely influenced by the effectiveness of business support processes. Efficient sales support processes equate to more sales volume. Any areas that require a front line employee to look for needed information can impact the sales process. The ratio of areas that are supported divided by the total number of areas affecting customer interaction will give the sales efficiency ratio.

Improve Shop Proficiency – Increasing the utilization of available labor hours results in higher sales volume and greater overhead absorption. Identifying and correcting factors that negatively impact shop proficiency will improve sales and profits.

Measure the Impact of Shop Management Systems on Costs – There are a number of areas that a shop management system can impact operating costs. The ratio of the number of areas positively impacted by systems to the total potential areas will give the system effectiveness ratio.

Evaluate True Purchasing and Inventory Costs – Check each opportunity to lower costs in this area and determine how many are being taken advantage of.

Article by: Maria

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Article source: http://www.fasttrakauto.com/blog/2012/10/30/monitoring-auto-repair-shop-cost-management-efforts/

Monitoring the Quality of Relationships

Monitoring the Quality of Relationships  Monitoring the quality of relationships can be tricky but can also provide enormous value. Taking an honest look at relationships and what they’re based on requires an open mind and the ability to understand people. Just like any other business endeavor progress can be measured based on achievement of the defined objective. So having a clear idea of what constitutes a quality relationship allows effective evaluation. The following are key points to consider when evaluating relationships:

Evaluate the Basis of Marketing Messages – Are the messages communicated to customers in marketing and advertising relationship based or sales based? Do they say ‘I want you to buy something’ or do they say ‘I want to provide valuable service’? Do they establish and/or reinforce a positive perception of the customer’s relationship with your business? The highest quality marketing messages are relationship based.

Assess Interaction with the Customer at the Point of Sale – Is the relationship based on the sales process or are sales generated through the relationship? Is interaction with the customer focused on sales or is it advisory in nature? If the customer relationship is at the forefront in the sales process the quality of customer service is of the highest caliber.

Evaluate Business Processes and Procedures – Are the business processes and procedures within the company clearly defined and documented? Do all people involved in the process understand the overall process and their role in it? Is information reporting an integrated part of the process? If business processes are running as efficiently and smoothly as possible they’re making the maximum contribution to positive relationships.

Grade the Impact of Information Systems on Customer Relationships – Do documents and correspondence with the customer communicate and reinforce the customer relationship? Do they communicate service and value? If the primary impact of information systems is on relationship building then the most positive contribution is being made.

Evaluate the Quality of Employee Relationships – Are employees competitively compensated? How does turnover compare to industry averages? Are employee skills improved to keep up with industry advances? Are employees given the opportunity to contribute to the advancement of the business? Are they recognized for their contributions? The answers to these questions will indicate the quality of business/employee relationships.

Measure the Caliber of Supplier Relationships – Are the procedures in the shop set up to support the supplier’s best efforts to provide quality service? Does the supplier meet the basic criteria for a positive relationship? Does the supplier go beyond these criteria? If so is the supplier recognized for it? These indicators will give a good assessment of the quality of supplier relationships.
Relationships are an important ingredient in the recipe for business success. Evaluating them and focusing on improving them will provide a positive contribution to any company. Monitoring key relationships and the factors that affect them with the goal of improving them as much as possible will make a business stand out and excel.

Article by: Maria

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Article source: http://www.fasttrakauto.com/blog/2012/09/28/monitoring-the-quality-of-relationships/

How to Make a Restaurant Budget

One of the trickier aspects of opening up a new restaurant is figuring out an adequate budget. Even experienced restaurant owners and managers can be way over or under on given budget items or sometimes just miss certain items that should have been included in the budget. That said, a carefully thought-out and planned budget is an essential part of a restaurant business plan, and putting in the time to make a comprehensive budget up front can save a great deal of time and expense later.

1. Create a list of categories of expenses. Start with basic categories like mortgage- or lease-related expenses, utilities, licenses and permits, employee-related expenses, equipment costs, food expenses, marketing and so forth, and then take a few hours to mull and brainstorm to make sure you are covering the details.
2. Include a miscellaneous expense category. Even if you are operating on a relatively tight budget, it is important to have at least a small miscellaneous expenses category. Otherwise you are almost guaranteeing that you will not be able to stick to your budget.
3. Research the amount you will need for each category of your budget. Many expenses like rent, utilities and employee hourly costs are highly predictable, but some others, like food or marketing expenses, can vary significantly over a relatively short period of time. Therefore, consider certain budget items more flexibly and/or plan to revisit those categories quarterly instead of annually.
4. Complete your budget by adding the amounts needed for each budget category and totaling up all the categories. Most business plans create an annual budget, but especially for a new restaurant business, consider preparing quarterly or even monthly budgets so you can get a real feel for all of the expenses involved in operating a restaurant.
5. It is important to include at least some funds for marketing your restaurant in your budget. Word of mouth will certainly help business in the long run, but you also need some kind of marketing/advertising to get your name in the public eye.

Article by: Maria

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Read more: How to Make a Restaurant Budget | eHow.com http://www.ehow.com/how_8452157_make-restaurant-budget.html#ixzz2LY7Y3Tn9

How to Raise Your Retail Associates’ Conversion Rate

How to Raise Your Retail Associates’ Conversion Rate

Brick and mortar retail stores face the daunting challenge of getting their retail associates to convert customers who are lookers into ones who are buyers.
Fortunately, the brick and mortar retailer has one significant advantage, the customers are actually standing in front of her or his employees and not just remotely connected via the Internet.
To make the most of this advantage, a retailer must use a variety of techniques in retail sales training to raise the conversion rate of their retail associates.

Here are 5 ways to raise your retail associates’ conversion rate…

Facilitators, Not Just Greeters
Saying, “Hi” is good but being interested in a customer and getting them to their desired destination in a minimum of time is great. Most customers have a buying agenda and will move on to another retailer if they do not perceive that your establishment appreciates their business.  No amount of up selling can overcome a customer who is frustrated.

Demonstrators, Not Just Pointers
We’re all familiar with the stores that mandate that their employees bring a customer to the exact product that the customer is looking for. It’s a nice idea but usually poorly implemented. Mostly, at the end of the short trip, the employee (a pointer) merely wags his finger and says, “It’s right there. Have a nice day.” What a missed opportunity!
Instead, retail associates who should remove the product from the shelf, demonstrate it to the customer using features and benefits and, if appropriate, ask them if they want two or three. It is a simple technique but one that works wonders on your bottom line.

Fitting Room Salespeople, Not Security Guards
I’m told the experience at a Victoria Secret is awesome. That’s because they put their focus on getting a customer to a fitting room, so they can show her everything that will fit perfectly. The best retailers station their best employees at the fitting rooms to build rapport and sell the merchandise at the fitting room. Putting your least trained employee to clean up and watch for shoplifters ignores the fact customers who use a dressing room are 70% more likely to buy.

Personable, Not Just Cashiers
In case it’s not obvious, the cashier is the final place where an employee will touch the customer. As such, they still have influence over the customer’s actions. The customer is generally relaxed and impulse items are easier to sell.

The idea that cashiers are only paid to take your customers’ money and say thank you is nonsense. As your brand’s last touch-point, your cashiers must be personable or they are just not worth their payroll. In many stores, cashiers can be adding additional items to an order.
Expect more and you will get more.

Sales Trainers, Not Just Managers
By the same token, a manager is not just a person who can fill any void left by a no-show employee. A retail manager must understand the concepts mentioned above and create an atmosphere where these concepts of retail sales training come to life. Be sure that you have chosen the right sales trainer for your retail location, not just an inventory manager.

The Bottom Line
The majority of a brick and mortar store’s customers are looking to buy. Do not waste the opportunity to transform your lookers into buyers by utilizing the above concepts. Increasing your conversion rate will mean the difference between barely surviving and having a thriving business.

Article by: Maria

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http://www.retaildoc.com/blog/how-to-raise-your-retail-associates-conversion-rate/

Accounting for an Auto Repair Business

Accounting for an Auto Repair Business

An auto repair business benefits from using a business-specific and integrated accounting system into its daily business practices. This kind of integrated accounting software saves money, time, avoids duplicate data entry and ultimately serves as a panacea to the business owner to help prevent those nasty tax-based headaches that occur in the spring of every year.

Features and Benefits

A good auto repair business accounting system provides many options including appointment control, work-in-progress (WIP) tracking, point-of-sale accounting and customer data and history. The software also needs to provide parts management including inventory control, daily sales reports, time/materials invoice calculations, marketing features, payroll tied to invoicing, accounts receivable/payable, banking, general ledger integration and report capabilities that include uploading to other software systems such as QuickBooks.

Software Integration

An efficient accounting software system has access to future scheduling features, inventory, accounting alerts, customer retention tools and marketing capabilities. Each of the modules in an accounting system must be integrated with the system's other modules to prevent duplicate data and allow data sharing between modules.

Payroll, Job Costing and Customer Invoicing

When an employee reports the hours worked on a particular vehicle, in an integrated software system, this information feeds payroll, job costing, inventory and parts management (if needed), customer invoicing and history.

Database Access

Industry standards set the times needed to complete specific car repair jobs and a good accounting system provides national job guide data at the touch of a button. Additionally, good accounting systems also have vendor integration capabilities so that part ordering can occur through the accounting software system and the transaction automatically books into the appropriate modules.

Banking, Check Writing and Credit Card Features

Banking, check writing and credit card charges are all part of the daily aspects of managing the cash flow for an auto repair business. Software that integrates these features makes it easy to run your business without spending a lot of time handling accounting functions, as the integration allows these transactions to book across the needed modules.

Article by: Maria

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Read more: Accounting for an Auto Repair Business | eHow.com http://www.ehow.com/info_8066096_accounting-auto-repair-business.html#ixzz2IdkTqqyI

How to Attract More Clients to your Salon and Spa

How to Attract More Clients to your Salon and Spa

Gain the Leading Edge.
Getting out and making a name for yourself is important. It’s not enough to place a sign out front and run an advertisement in the paper and wait for the phone to ring. You are more likely to get business from people who have made contact with you or know you. Networking and Connecting within your community is important to get the word out about your salon and spa and bring in new clients. Get out, meet people and increase your business visibility.

Stealth Marketing
Use Viral Marketing to build your brand awareness and enhance your marketing efforts. By using pre-existing social networks like facebook, YouTube and twitter you can get the word out and create buzz for your salon and spa. Stealth marketing can encompass social networks, text messages, blogs and blog posting all with the purpose of gaining visibility and increasing your marketing objectives.

Praise from Happy clients
The marketing giants use celebrity endorsements (testimonials) to expose their products and give their products credibility and appeal. You too can get testimonials from your happy clients. Identify people who can influence your target market and get them to endorse your treatments and techniques. Get key leaders within your community to try your products and treatments for free and get their feedback in writing. Get their permission to use their feedback, comments and photos in your promotional material. Endorsements can come from friends; the most powerful endorsement is when friends and clients recommend your product or service to another friend. This is powerful word of mouth advertising and more believable than any other form of endorsement.

Referral Programs
Getting clients through referrals is one of the best ways to build your business. Have a referral incentive program in place to encourage clients to refer business to you. Having a specific referral program gets people thinking about who they can refer to you. A referral program encourages word of mouth advertising. Make it a habit to ask your clients for referrals. Tell them you would really appreciate it if they could recommend you to anyone who would be interested in a cut/color/any service you provide." And of course tell them about your referral incentive program – let them know what’s in for them. 

A Niche Strategy to focus your Marketing efforts
Don’t try to be everything to everyone. Focus on your specific niche. Know what makes you different from your competitors. Analyze your competitor’s strengths and weaknesses. Offer more value by differentiating your specific treatments and results. One of the biggest niche strategy advantages is the ability to quickly become a dominant player your specific area of expertise. There are salons that cater specifically for rejuvenation, slimming, tanning, hair design, waxing and massage. Niche marketing can be a focused strategy at a niche group such as pregnant women, teenagers, couples, men. A massage and relaxation niche may encompass Yoga, Shiatsu, Meditation and an array of Massage techniques such as deep tissue, Swedish, aromatherapy and Thai massage. Spas are increasingly offering unique services and products to differentiate themselves from the usual facials and body treatments. A new spa niche may be carved out with Asian healing practices and rituals.

Build a Bold & Beautiful Business. Who gets the attention? Attractive men and women, the loud mouth and the exceptional offer. Start attracting attention to your salon and spa. Have attractive staff with flawless skin, well groomed with full make-up. You think I’m joking, but its fact that good looking people attract more business. And as a salon and spa, you are in the health and beauty business, so your people need to look the part. Would you go to an overweight personal fitness trainer, or would you want the lean muscular trainer? Who gets the attention? The budget salon with posters on the wall or the salon with a gorgeous reception, water feature, glossy magazines, top notch furnishing and finishes. We know that packaging is everything; clients pay big money for professional skin care because the marketing messages tell us its special and the packaging supports the message. Is your salon and spa supporting your marketing message? Attractive people, places and objects are attractive because they literally attract attention and interest. Is your salon and spa attractive and attracting attention? Attractive refers to everything: your marketing messages, the way you answer the phone, answer questions, the way you present yourself, your advertising. It all needs to be bold, beautiful, attractive and appealing to draw people in.

Article by: Maria

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www.processnms.com

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Article source: http://www.salonprofit.net/beauty-therapy/sales-and-marketing/strategy/how-to-attract-more-clients-to-your-salon-and-spa.html

50 Marketing Ideas for Retailers

50 Marketing Ideas for Retailers

Small business owners can easily get too involved in the day-to-day operations of their retail stores to spend any time brainstorming marketing ideas or promotional events. Some retailers worry that marketing is too expensive, others may find it too time consuming. Without announcing who you are and what you sell, how will anyone know? Here are 50 marketing ideas for retailers.

1. Create a calendar for customers with your shop's name and address on it.

2. Print the products you sell or services offered on the back of your business cards.

3. Always carry business cards with you. Give them freely and ask permission to leave them in places your target market may visit.

4. Join a trade association or organization related to your industry.

5. Have a drawing for a product or a gift certificate. Use the entry forms to collect customers' mailing addresses.

6. Develop a brochure of services your shop offers.

7. Conduct monthly clinics about a product or service you offer or schedule semi-annual seminars on related "how-to" information for your industry.

8. Print a tagline for your business on letterhead, fax cover sheets, e-mails and invoices.

9. Develop a website to showcase your products, services and location. Use a memorable URL and include it on all marketing materials.

10. Include customer testimonials in your printed literature.

11. Promote yourself as an expert by writing articles or tips on topics related to your industry.

12. Submit to the local newspaper, trade journal or other publications.

13. Host an after-hours gathering for your employees and their friends/relatives.

14. Provide free t-shirts with your logo to your staff to wear.

15. Send newsworthy press releases as often as needed.

16. Create an annual award and publicize it.

17. Develop your own TV show on your specialty and present it to your local cable station or public broadcasting station.

18. Create a press kit and keep its contents current.

19. Use an answering machine or voice mail system to catch after-hours phone calls. Include basic information in your outgoing messages such as business hours, location, website, etc.

20. Join a Chamber of Commerce where you can network with area business owners.

21. Hold an open house. Invite prominent city officials and the press.

22. Get a memorable local or toll-free phone number.

23. Place ads in publications your market reads. Be sure to reach the non-English speaking market as well.

24. Distribute specialty products such as pens, mouse pads, or mugs with your store's logo.

25. Advertise in creative locations such as park benches, buses, and popular Web sites.

26. Improve your building signage.

27. Get a booth at a trade show or expo attended by your target market.

28. Give a speech or volunteer for a career day at a high school.

29. Sponsor an Adopt-a-Highway area in your community to keep roads litter-free.

30. Donate your product or service to a charity event or auction.

31. Have a Yellow Pages ad listed under your main industry and in related categories.

32. Volunteer your time to a charity or non-profit organization.

33. Create a loyalty program to reward existing customers.

34. Create an opt-in email or print newsletter for your customers. Fill each edition with specials, tips and other timely information.

35. Send hand-written thank you notes to important customers every chance you get.

36. Use brightly colored envelopes and unique stationary when sending direct mail pieces.

37. Show product demos or related videos on a television on the sales floors during store hours.

38. Book a celebrity guest for an event at your store. Use people in your industry or television news anchors or local authors.

39. Create window displays in locations away from your shop. Airports, hospitals, and large office buildings occasionally have display areas they rent to local businesses.

40. Team up with a non-competing business in your area to offer a package promotion.

41. Pick the slowest day of the week to hold a one-day sale.

42. Create a warm, welcoming waiting area for your customers.

43. Provide extra customer service training for your staff.

44. Sign up for a newsletter or join online discussion groups in your industry.

45. If possible, loan your facilities to other groups for a meeting place.

46. Create a unique lapel pin based on the products you sell to wear at meetings.

47. Choose a regular customer to spotlight as a Customer of the Month. Create a brief write up to submit to the local newspaper about the customer and be sure to give he or she a copy of the article as well as have one framed to hang in the store.

48. Pair up slow moving items with related products and repackage as a special buy.

49. Start a blog. Write about your industry or detail in-store happenings.

50. Offer your customers discounts for each referral they provide.

Marketing is most effective if done in coordination with other exposure. Enhance the above efforts with additional signage, newspaper ads, displays and radio ads. Remember to tailor each event for your target audience. If your message isn't being delivered to the right person, it may be a wasted effort.

Article by: Maria

Working happily with National Merchant Services

www.processnms.com

Happy Processing!!!

Article source: http://retail.about.com/od/marketingsalespromotion/a/marketing_ideas.htm