Changing The Industry Podcast

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Staying afloat in a turbulent economy can be challenging for an independent auto repair shop. With economic uncertainty on the rise, it can be difficult to predict when the next downturn will hit and how it will affect your business.

Many shops will turn to cost-cutting measures. That could include negotiating better deals with suppliers, purchasing more affordable equipment, or reducing staff hours. A few shops will look to diversify their revenue streams. That could include offering additional services such as car detailing or selling used vehicles. It could also involve partnering with other businesses in the community, such as rental car companies or car dealerships.

Regardless, it is essential for owners to keep an eye on their finances and to have a plan in place for when things do take a turn for the worse.