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
Do you own or manage an auto repair shop? Then you probably have an automotive time clock. But contrary to popular belief not all Auto Shop Time Clocks are created equal. Labor Profit Management will not only record your technicians clocking-in and clocking-out but track the ELR (Effective Labor Rate) for each of your technicians and service advisors.Labor Profit Management will provide you with an easy to read report so you can monitor your progress to saving those dollars you’ve been losing due to inefficiency. You will now have all of this information at your fingertips and thanks to our customizable e-codes you can also track how much time your technicians are spending on other individual tasks like shop maintenance.
Everyone knows that knowledge is power but you don’t realize how much power you’re missing out on until you see the level of detail provided by Labor Profit Management’s Automotive Time Clock. Some might say that they already have the ability to track time spent on individual repairs or that they’ve neglected to run these reports because they see that their technicians are busy. But busy does not equal efficient. Can you tell how long they spend on warranty work, or waiting for authorization from the customer to perform the work, or how long they spend waiting for parts to arrive? If you can’t produce a report with this level of detail then it is near impossible to improve your technician’s efficiency.
Labor Profit Management understands your frustrations and wants to make the process of dialing down those lost labor dollars by helping you run a more efficient shop. This does not mean cutting down on hours or paying your technicians less. By improving your efficiency you will be able to service vehicles faster which, in turn, will allow you to increase your weekly car count. All of this leads to more profit dollars for you. This why it is important to have a system in place for technician labor tracking.
Labor Profit Management integrates seamlessly with NAPA TRACS, Mitchel1, ROWriter, Alldata and TCS shop management systems. No double entry once you enter the information it will upload into Labor Profit Management.
If you have any questions regarding your shop’s efficiency or you want to sign up today, give us a call at: 1-888-546-2272
Auto shops are unique when it comes to time clocks. Gone are the days of the simple “clock in/clock out” method. Shop owners, these days, need to be able to track their technicians efficiency. Car count is the lifeblood of the automotive repair industry and that relies heavily on your ability and your techs’ ability to turn cars around as quickly as possible while still performing a top quality service. Here at LPM we understand that you are constantly competing with the dealers as an independent auto repair shop and that is why we designed our time clock to help you improve efficiency while arming you with the data to increase your profitability.
Labor Profit Management has taken the complex nature of the auto shop time clock and streamlined it into an easy to use system for both auto shop owners and their technicians, it can be accessed by a computer, tablet, or smartphone. This means your techs can clock in right from the garage floor eliminating the hassle of using a physical time clock located somewhere in the shop. LPM offers the tools you need to continue improving every aspect of your shop. If you have questions regarding how our Time Management System can help your shop specifically do not hesitate to contact our knowledgeable and friendly staff.
Because knowledge is power and in this case knowledge equals money. By improving your Technicians’ efficiency rate you’ll be saving money that’s just been sitting on the table. Find out where your lost labor dollars are going through simplified reports. “Doing more with less” has become the small business mantra during these economically hard times and that’s why there has been a renewed focus on Effective Labor Rates (ELR). Let LPM show you where you can increase your shop’s efficiency, the numbers won’t lie and you’ll find profits in the truth.
Labor Profit Management’s auto shop time clock is great for both general repair shops and
specialty repair shops. With easily programmable ecodes you will be able to tell how long
your technician, not only, spends on a car with multiple repairs but how long they spent on
other tasks like warranty work, waiting for parts and waiting for authorization. We integrate with NAPA TRACS, Mitchell, RO Writer, Alldata and TCS. This attention to detail is the reason why you can become a profitable auto repair shop. Auto Repair Shops across the nation are seeing profitability off the charts because they can now measure and manage their labor dollars. Feel free to watch our videos, explore our website or call us to get started today!
Your roadmap begins with collecting all the labor dollars for your technicians’ time. Through measuring and managing, you can determine whether or not you are collecting all the labor dollars that are available to you, or if you are leaving money on the table.
Once you start measuring a few important metrics, especially effective labor rate (ELR), you will be able to make meaningful decisions in your business. Measuring and managing these metrics will help you find existing, hidden labor dollars — and collect more labor dollars — which can boost your bottom line. Read more >>
Ratchet + Wrench Magazines
Tired of feeling out of control at his shop, Express Tire & Automotive in Berea, Ohio, shop owner Dave Justice started routinely tracking his labor dollars by hand.
His meticulous approach to tracking not only turned around his shop, it also created a side business: Labor Profit Management, a software system that allows owners to manage productivity, efficiency and effective labor rates. Read more >>
Asset Management Technologies (AMT) is pleased to announce their affiliation with the national NAPA AutoCare Dealers organization.
This exciting new partnership will enable AMT and NAPA to offer all of the benefits of the Labor Profit Management (LPM) software system to NAPA AutoCare dealers everywhere. With the ability to measure and manage technician productivity and efficiency in real time, LPM is the country’s #1 tool for increasing labor profits in the auto repair industry.
LPM will be prominently featured on NAPA’s AutoCare website, where information on the benefits of the program will be presented, as well as training and support links for existing AutoCare dealers.
A January 18th launch is planned.
AMT would like to thank the staff and coaches from the Automotive Training Institute (ATI) for all their hospitality and hard work in presenting their highly successful 2012 SuperConference (SC12). SC12 was held March 14-17 in Fort Lauderdale, Florida, as an educational seminar for Savage, Maryland, based ATI’s many clients and suppliers.
As a preferred vendor of ATI, AMT was pleased to be able to present our industry leading Labor Profit Management system at the trade show held Thursday evening in the Grand Ballroom of the beautiful Marriott Harbor Beach Resort. Many new friends were made and acquaintances renewed at this wonderfully attended event.
Thanks as well to all the auto repair shop owners and dealers from across the country who stopped by our booth to explore the many features and benefits of LPM. Your interest and excitement over the potential of LPM in each of your businesses lets us know we’re on the right track in providing the country’s best new tool for measuring and managing auto shop labor profitability.
Thanks again, ATI!
Asset Management Technologies inc is proud to announce our Labor Profit Management software. With this system you are able to quantify employee productivity, effectiveness through accountability, and many other key business parameters.
“If You Can’t Measure It, You Can’t Manage It!”
Frederick Smith, FEDEX Corp.
From Motor Age Magazine
By Chris Frederick
“Measuring technician productivity by billed hours alone really is a could or should argument.
Example: I could wear a Speedo, but should I? Tracking technicians’ billed hours as an effort/expectation to bring the needed sales for your shop doesn’t always bring the needed sales.
I want to show you a more effective way of measuring technician productivity and performance. It has your shop’s sales and gross profit need in mind: total sales by tech. I said, “total sales by tech,” based on your parts/labor ratio, your labor rate and the clock hours by each technician.”
Read More at Motor Age
We would like to thank Dan Cricks and the attendees of the Info Summit in Las Vegas for attending the presentation of our Labor Profit Management System. Your enthusiasm was fantastic! We look forward to servicing all of your needs!