The automotive repair industry is growing more competitive and complex by the day. In order to succeed, repair shops need to focus, not only on working within the shop but working on the shop itself.   Currently, the automotive industry is grappling with a severe labor shortage. It is estimated that 624,000 technicians will be needed by the year 2024. This is where shop owners really need to focus on hiring a quality team of technicians that are just as passionate about learning and growing with the industry as repair shop owners do.  What Are The Best Tips For Running A […]

A new year. The perfect time to assess where your business sits today, what went well last year, what didn’t go as planned, and how you can do better going forward. If you’re currently looking at the objectives for 2022, you are likely looking at your business finances as well. Any moves, big or small, typically involve working capital. For example, are you looking at buying new equipment to take your business to the next level and take on multiple or larger orders? If so, you’re likely going to need some financing for such a large purchase. As you look […]

According to a study conducted by Ohio State University, 60% of restaurants fail within their first 3 years of operation. Within their first 5 years, 80% faltered and closed their doors.  There is no doubt that opening up and sustaining a new restaurant is not without a struggle.  With the latest adversary being COVID-19, many restaurants throughout the US were forced to shut down operations and close their doors, for some, permanently. Yelp reported that 15,770 restaurants closed in July of 2020.  Why Do Restaurants Falter? Restaurants typically subsist on meager profit margins. Based on an IBIS World Study, the […]

For many businesses, traditional loans are simply not an option. Startups lack the financial history lenders want to see. Some business owners do not have a strong credit score. Others find themselves in an industry bank considered “too risky” to work with. In other cases, a traditional loan is simply not the best option available. Whatever the reason may be, more and more business owners are turning to alternative financing options, like merchant cash advances. These financing solutions are known for being fast and flexible, providing funds when companies need them most. As cash advances have grown in popularity, the […]

The entrepreneurial journey is filled with blunders, mistakes, and misfortunes. Regardless of the number of years of schooling, training, and actually operating a business, you are bound to face a wide range of dilemmas.  What is important is that you learn from your mistakes, and change course quickly, based on what you have learned. This will help put you on the path to success.  Business owners tend to fall into the following traps that put their financial and personal lives under unnecessary strain.  6 Common Mistakes Small Business Owners Make So what are the most common mistakes small business owners […]

Starting a business has been made more difficult over the past couple of years, due to the pandemic and the uncertainty surrounding it – but it is not impossible. In fact, certain business types are needed more now than ever. While challenging, you can still start and operate a very successful business. The key is to follow certain steps and utilize the right resources. Now that you have your perfect business idea, launching a car repair shop, you can move forward with setting your plan in motion. There is much more to starting a business than simply registering with the […]