Planning for the New Year 2018

December 29, 2017

auto shop business 2018Annual planning is something few small business owners enjoy, but that all must do in order to keep operations running as smoothly as possible. If you’ve been winging it or working from the barest minimum of plans, then you’re probably suffering from common problems such as inconsistent cash flow, lower profits, and stagnation. To remedy the situation, make 2018 the year you finally go all in on a well considered annual plan for your auto repair shop. Here are some topics to address when planning for the new year.

Budget

Without question, planning your annual budget is one of the most important things you’re called on to do as a small business owner. Use professional-grade budget software to help get a handle on your finances and make accurate forecasts regarding expenses, sales, and other critical financial issues.

Marketing

Promoting your business is a primary key to success, so give this part of the annual plan your full attention. In addition to the usual advertising and social media campaigns, check out upcoming conferences to attend, participate in more networking activities, and work on crafting or honing your overall message to customers. It would also be helpful to make a marketing calendar to note campaign launches and other important dates.

Operational improvement

Major equipment upgrades, repairs, and purchases belong to the operational improvement category. As an auto repair shop owner, you should keep abreast of the latest technology and innovations in repair equipment, hydraulic lifts, wheel balancers, and diagnostic tools to help your mechanics work on the newest car models. Since these types of improvements tend to be very costly and disruptive (when removals and installations are involved), accounting for them in your annual plan is crucial.

Scheduling issues also fit under the operational improvement heading. If your employees are too often over-scheduled, under-scheduled, or otherwise not using their time efficiently, good scheduling software can go a long way towards eliminating these problems.

Non-financial goals

Many small business owners like to include a few non-financial goals in their annual plans. Things like community involvement, customer satisfaction, and going green are just a few examples of non-financial goals that can nevertheless benefit your auto repair shop in the long run.

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