Setting Goals for Your Auto Repair Shop
The start of the year brings a renewed energy to many businesses. It's a time for reflecting on the past year and planning for what is to come in the new year. And while the opportunity for new beginnings is exciting, oftentimes, auto repair shops find it difficult to set, monitor and accomplish goals throughout the entirety of the year. We're here to help you in the process of setting goals for your auto repair shop so you can see grow profit and see more revenue.
Why Should Auto Repair Shops Set Goals?
If you do not know where you are heading, you will never get there. Without goals, your auto repair shop will not have focus or direction. Taking the time to set goals will provide you with long-term vision and short-term motivation.
As you begin setting goals for the new year, there are a few things to keep in mind. Do not just make wishes, create SMART goals.
- Specific - create detailed and precise objectives
- Measurable - quantify the goals you aim to achieve
- Attainable - be sure your goals are within your control
- Realistic - set goals that are challenging, but achievable
- Timely - establish timelines for achieving results to stay focused
As you begin to evaluate your strengths and weaknesses of the past year, new desires and motivations start to become more clear. As a shop owner, it's important to focus on goals across different areas of the business.
Areas to Set Goals
It's easy for shop owners to look at high level goals that effect the overall business, but what many do not realize is there are smaller, more focused goals that can help them achieve long-term visions quicker. These are some important areas to set goals for to grow your repair shop.
Money is on everyone's mind, so these goals are often the most common. As a shop owner, you are in charge of keeping the lights on, providing for their employees, paying the bills, and making a living. Revenue can be influenced by many ways. Some revenue goals may focus on:
- Annual Revenue
- Profit Margin
- Average Repair Order
Operational goals help improve the day-to-day productivity and overall functionality of your the shop. These are the tasks, processes and decisions that run a business effectively. Operational goals at an auto repair shop could revolve around:
- Services and Products
- Customer Relations
- Tools and technology
Your people are what keep your business running. There is a shortage of technicians across the entire industry which makes your current team that much more valuable. Identify areas of weakness to improve as a team to grow the shop.
- New Employees
Be sure to also create goals with your employees. By taking the time to set individual goals with each team member, you are also able to learn more about their individual motivations.
To learn how to strengthen your team, read 4 Interviewing Tips that Will Help You to Hire Superstar Techs.
As shop owners, it is so easy to get caught up in the day-to-day and you forget to prioritize yourself. Your business and your team are only as strong as their leader. At the end of the day, your auto repair shop will benefit from you working at your peak potential. Common personal goals include:
- Work-Life Balance
As the new year quickly approaches, don't allow yourself to be a dreamer. Evaluate your current efforts and identify areas your auto repair shop can improve upon. Set SMART goals for your auto repair shop, create a plan with your team and execute to see growth for your business in the new year!