{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Confessions of a Shop Owner","title":"Ep 112 - Coaching Call #20 | Mike is Going to Charge for Diag??","html":"","width":"100%","height":180,"duration":3843,"description":"Mike Allen sits down with Matt Lofton for another open-book coaching session, digging into the real numbers behind one of Mike’s shops and figuring out what has to change to push it past 20% net profit. They break down car count, closing ratio, effective labor rate, gross profit per billed hour, staffing capacity, revenue per employee, and why a shop can look busy while still leaving a lot of money on the table. The conversation eventually forces Mike to reconsider one of his favorite controversial strategies—free diagnostics—and whether qualifying customers and charging for testing could actually improve the shop. As usual, there’s plenty of math, sarcasm, questionable financial decisions, and Mike reluctantly admitting that Matt may have a point.\nTimestamps\n00:00 Mike Forgot the Most Important Podcast Preparation: A Drink\n01:21 A $734 Power Bill vs. Matt’s Accidental Backyard Rainforest\n04:25 Growing the Business Just Creates New Problems\n07:35 Are Shop Owners Bad at Celebrating Wins?\n11:33 Opening the Books: $115K Revenue, $530 ARO & 24% Closing\n14:40 The Shop’s Best Month of the Year\n15:18 Building a 20%+ Net Profit Goal\n18:18 How to Calculate the Revenue Your Shop Actually Needs\n20:41 Can the Current Team Produce Enough Hours?\n25:45 “I Have No Excuse Not to Put $25K–$30K in the Bank”\n27:04 Could This Be a 30% Net Profit Shop?\n27:45 The Gross Profit Per Billed Hour Every Shop Needs to Know\n30:21 The Problem With a 24% Closing Ratio\n31:47 Your Loss Leader Doesn’t Have to Be for Everybody\n34:29 23 Cars Out of 110 Generated $0\n34:57 “We’re Not Hospice for Cars”\n35:19 Should Repair Shops Have an Age Limit on Vehicles?\n36:32 Mike Admits He’s About to Make a Bad G-Wagon Decision\n39:58 Matt Sees Mike’s Effective Labor Rate and Gets Sad\n41:12 Mike Calls Capacity Calculators “Mental Masturbation”\n42:02 Should Mike Finally Start Charging for Diagnostic Testing?\n43:15 What McDonald’s Can Teach Repair Shops About Pricing\n44:04 Qualifying Customers Before Giving Them...","thumbnail_url":"https://img.transistorcdn.com/TGFdk8p3lwIqG6-Zxu0zdS85-eMxgjWH_ROpDgligzo/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9hYmUy/MTMxZmUzN2Q5Mzkw/YTgxMDliZDViN2U3/N2Q1ZC5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}