Here at Labor Profit Management we would like to highlight Ratchet + Wrench’s Shop Performance Survey. They have assemble a respectable cross section of shops across the nation and the they came back with some noteworthy results. It turns out that most shops don’t track or have a way to track Effective Labor Rate, Technician Efficiency, Technician Productivity, Net Profit and Gross Profit on Labor.
These are the least tracked Key Performance Indicators by shops all over the nation. These are important KPI’s that can help strengthen your business and help you lessen the hurt of slow months and maximize the benefits during your busiest times of the year. If this sounds like your shop then give us a call and we’ll help you start plugging the monetary leaks that clearly plague so many shops in our industry.
We know that it seems like a lot to keep track of on a regular basis and that’s most likely the reason shops do not consistently track all five of these Key Performance Indicators across the board. But there is a light at the end of the tunnel. Labor Profit Management is an all in one solution that can produce easy to read reports whenever you need them.
Your technicians can access their time clock independently and log the work they perform throughout the day just as easily as you can oversee your daily, weekly or monthly numbers. With a full support staff ready to answer any questions you may have, you can start making the money that you would otherwise be losing to lost labor dollars. If you have any questions about how to start maximizing your profit potential, feel free to look over our site and give us a call!
Here is a link to their Shop Performance Survey where you can preview a sample of their 45 page report: CLICK HERE