NAPA AutoCare Financial GPS

NAPA AutoCare Financial GPS Targets and Benchmarks

NAPA AutoCare Financial GPS Targets and Benchmarks The following data and statistics were developed by Vincent B. Waterhouse of The Waterhouse Group and are copyrighted. No part of this publication operating statement and AutoCare Financial GPS may be reproduced or reverse engineered in any manner whatsoever without the express written permission of the author. Reprint or reproduction in any form is strictly prohibited. The NAPA AutoCare Financial GPS is being provided to you as a benchmark against which to assess your business. NAPA does not warrant or guarantee the accuracy of any information provided to you in this document. Such information is provided for informational purposes only and to aid you in making your own unilateral business decisions. The provision of this information is not intended to be an instruction or directive to take any specific course of conduct based on the information. Business decisions based on any information provided are solely within your discretion Vincent B. Waterhouse The Waterhouse Group 399 Cedar Brook Road Lynn, MA 01904 Ph: 888-592-4369 Email: Vin@VinWaterhouse.com 2

Table Of Contents Introduction...4 Methods Explains how data was calculated...5 Definition of Terms Defines terms and calculations used in the NAPA AutoCare Financial GPS... 6 7 Consolidated Results Operating Statement Top 25%...8 Operating Statement All Reporting & Top 25%...9 Comparison Average vs. Top 25%...10 NAPA AutoCare Benchmarks...11 12 Operating Statement Category Descriptions... 13 14 Vin Waterhouse Key Observations... 15 Copyright 2011 Vincent B. Waterhouse, The Waterhouse Group. All rights reserved. 3

Introduction Imagine driving to an imaginary destination located in a town called Profit-Ville It is located several states away from your current location and it will take a few days to drive there. Your vehicle has a full tank of gas, but you have no map to follow, nor do you have a GPS. The chances of arriving at your destination are not good. The financial destination of your shop should be that your net profit be among the top 25% most profitable shops in the USA. By identifying, meeting or exceeding the top 65 key targets and benchmarks the most profitable shops achieve, you will get there. To take a getaway vacation, you have to decide where you want to go, how you will get there and how you will get back home. That requires a plan. The same is true for your business and the new NAPA AutoCare Financial GPS is just the tool to help you get there. Financial statements are a critical component of the financial management of your business. We recommend that you get them monthly (quarterly at a minimum). There are two primary statements: the income statement and the balance sheet. This study will analyze the income statement. The income statement has much more meaning when you can compare your monthly and annual dollar and percent results to other repair facilities with income and expenses defined the same way as yours. The results represent averages for All Reporting AutoCare repair facilities and the Top 25% ranked by net profit as a percent to sales. Compare your shop s performance with the consolidated results and their achieved benchmarks. You will see where the most successful shops spend their money as a percent to sales and where they don t. For in-depth analysis of your business on a one-on-one basis you may contact The Waterhouse Group at 888-592-4369 or visit our website: www.vinwaterhouse.com. For a monthly live analysis of your shop go to wwwrepairshopfinancialsoftware.com and manage your business online via our secure website. For information about attending one of our two-day Financial Management for the Automotive Repair Shop workshops, contact your NAPA AUTO PARTS Store and ask about the NAPA $440.00 Scholarship. For advanced training join or start a Vin Waterhouse Supper Club, which is a perfect match with a NAPA AutoCare Business Development Group (BDG) because it focuses strictly on business management and accountability. One-on-one consulting services are available as well. 4

PLEASE READ THIS PAGE CAREFULLY BEFORE LOOKING AT THE STATISTICS! Methods Welcome to the Waterhouse Group / NAPA AutoCare Financial GPS. This report is a comprehensive analysis of information provided by repair shops from all over the USA. The industry figures, statistics and averages were compiled from financial information submitted confidentially by all participants. Each category was divided by the number of participants per category. So if we had 100 shops in the base and they all provided a labor rate the math is simple: Total the 100 labor rates and divide by 100 to get the average. (The same is true for all major categories such as labor sales, labor cost, labor gross profit, parts, total expenses etc. because all shops have those criteria.) You may notice that the percentages don t add up vertically on pages 8 and 9. Here s why. If only 50 shops had service managers, then service manager wages would be divided by 50 and not by 100 to prevent a skewing effect. It compounds when shop owners have full and part time people or work 50% of their time as a service manager and 50% of their time as a technician, etc. The bottom line is that the numbers and percents are correct looking left to right, but if you add the percentages vertically (sum of percentages), they don t add up to the total expense figure on line 38. YET, Total expenses as a % to sales is correct because 100% of shops have expenses. CRITICAL! The following categories of Payroll: Manager, Office and Owner do not represent full time salaries as most shop owners and employees multi-task. As example: An owner spends half his time as a technician and half his time as a manager. His salary would be split as 50% technician wages and 50% manager wages. Owners salary would be only 50% of his salary because the owner acted as an employee of his business half the time. On the other hand, if a shop doesn t fill the above positions because those functions are handled by the owner then the dollars allocated to those positions are kept as profit to the shop. All calculations and statistics contained in this report were drafted as accurately and precisely as possible. In the event that errors were detected in a particular submission, the respondent was contacted and given an opportunity to rectify the discrepancy. Also, extreme values may have been manually omitted in order to preserve the integrity of the data and prevent a skewing effect. Averages for a particular category were calculated by dividing the sum total values in the given field by the total number of responses. In the event that a respondent was unable to supply a specific figure, they were not included in the averaging process. Zero values were omitted from all calculations. As such, despite the total number of participants in the AutoCare Financial GPS, the actual number of participants in each category may vary depending on information submitted. As example: The sum of expense category percents will not add up to the total expense percent (Line 38) because of rounding and the varying number of participants per category. However, the totals of all dollar expenses are accurate. Within the survey, data is presented on two primary groups... all participants as a whole and the average of the top 25% most profitable shops in terms of net profit as a percent to total sales. Group I Group II All Reporting Top 25% in terms of net profit Thank you for your participation. Vincent B. Waterhouse The Waterhouse Group Copyright 2011 Vincent B. Waterhouse, The Waterhouse Group. All rights reserved. 5

Definition of Terms DAILY NUMBER OF REPAIR ORDERS PER TECHNICIAN This is the number of cars being repaired each day per tech. A high figure could reflect too many small jobs being performed, resulting in poor efficiency and low profits. A low value could be caused by large work orders or poor efficiency. FACTORY EFFICIENCY Calculates the performance of the entire repair facility. Low factory efficiency could indicate poor sales, poor organization, outdated equipment, or a weak sales mix, low dollars per repair order due to many non-profitable small jobs, or perhaps too many technicians for your sales volume. Target is 90% (when you have the work). GROSS PROFIT DOLLARS PER EMPLOYEE Equals the gross profit dollars generated by each employee. A low value shows that sales don t justify the current number of employees. The higher, the better (see page 8 for top 25%). GROSS RETURN ON INVENTORY Every businessperson s objective is to realize the greatest profit from the least amount invested. GPROI measures the number of parts gross profit dollars earned for every dollar of inventory stocked. The higher this value is, the better, provided that inventory turnover does not exceed 12 turns. INVENTORY TURNOVER Represents the number of times the value of your entire auto parts inventory was sold at cost. The reason for stocking inventory is to increase sales and factory efficiency by saving time by not having to wait for parts deliveries. If inventory turns are too high, you may lose sales and suffer a reduction in shop efficiency due to waiting for parts. When turns are too low, it indicates that your sales do not justify the dollars invested. A good range for inventory turnover is between 6.5-12 turns. LABOR SALES PER TECH Measures how efficiently technicians are performing... the higher the number, the more profitable the company. Each tech should generate at least 75% of their monthly potential labor sales. MONTH S INVENTORY SUPPLY Indicates how many months your current auto parts inventory will last based upon your present rate of parts sales. This value should fall between 1-1.85 months supply. 6

PARTS SALES PER TECH This is an indication of technician efficiency. If you sell labor, you sell parts. If parts sales per tech consistently exceed labor sales per tech, it could reflect low efficiency, that you are not charging enough labor, do not charge for diagnostics or your shop labor rate is too low. If parts sales are too low, you may be working on too many small or incomplete jobs; or labor intensive work such as engine installations, installing seals, bearings etc. Note! Shop supply revenue should be added to parts sales because the costs of shop supplies come on your parts statements. BIG PROFITS AHEAD PAYROLL AS A PERCENT TO GROSS PROFIT This is a measure of total payroll dollars (less technician wages) including benefits in relation to the amount of gross profit dollars generated. The lower the payroll is as a percent to gross profit, the greater the likelihood of profitability. SALES PER REPAIR ORDER This is a measurement of job profitability. A low amount per repair order indicates non-profitable work such as oil changes etc. High dollars per repair order signify fewer cars worked on per day, but a more profitable business due to efficiency and selling complete or related repairs (not patch jobs). SUPPORT STAFF WAGES AS A PERCENT TO GROSS PROFIT The percentage of every gross profit dollar generated by the company that is spent on support staff wages (not including benefits). SUPPORT STAFF WAGES AS A PERCENT TO TOTAL SALES The percentage of every sales dollar generated by the company that is spent on support staff wages (not including b e n e fi t s ). TOTAL PAYROLL AS A PERCENT TO SALES This is a measure of total payroll dollars including owner and technician wages and benefits in relation to the amount of sales dollars generated. The lower the payroll as a percent to sales, the greater the firm s profitability is likely to be. TOTAL SALES PER BAY/WORKING SPACE The cost of real estate continues to rise, whether buying the property or renting it. It is imperative to maximize the use of this precious space. If the sales per bay are too low, it could indicate low factory efficiency or under-utilization of the building. However, if this value is too high, you may need more working space for the number of technicians employed. TOTAL SALES PER EMPLOYEE This is a method of gauging the productivity of all employees including technicians. A high dollar volume per employee indicates that your shop is running lean and efficiently. A low value suggests that your shop is overstaffed, inefficient, doing too many small patchwork jobs or that sales are weak and don t justify the number of employees on hand. Copyright 2011 Vincent B. Waterhouse, The Waterhouse Group. All rights reserved. 7

AutoCare Operating Statement (Top 25%) Your Operating Results Category Consolidated Results Your Last 12 Months Sales Budget Monthly Sales Sales: Top 25% 1 Net Labor Sales 50.59% 2 Net Parts Sales 46.14% 3 Sublet Sales 3.27% 4 TOTAL SALES 100.00% Cost of Sales: 5 Labor Cost (tech wages without benefits) 18.10% 6 Parts Cost 27.29% 7 Sublet Cost 2.17% 8 TOTAL COST OF SALES 47.39% Gross Profit: 9 Labor Gross Profit 64.22% 10 Parts Gross Profit 40.85% 11 Sublet Gross Profit 33.96% 12 TOTAL GROSS PROFIT 52.61% Operating Expenses: 13 Accounting 0.40% 14 Advertising 2.49% 15 Computer (Including Depreciation) 0.39% 16 Equipment 1.09% 17 Insurance: General 1.02% 18 Insurance: Health & Benefits 1.46% 19 Insurance: Workman s Compensation 0.87% 20 Interest 0.69% 21 Payroll: Benefits: 0.67% 22 Payroll: Contract Labor 0.24% 23 Payroll: Manager: 4.76% 24 Payroll: Office 3.62% 25 Payroll: Owner 5.52% 26 Payroll: Service 0.29% 27 Payroll: Service Manager 5.07% 28 Payroll: Taxes 2.88% 29 Payroll: Uniforms 0.58% 30 Payroll: Professional Fees 0.30% 31 Rent / Mortgage 4.88% 32 Supplies: Office 0.78% 33 Telephone 0.64% 34 Training: 0.58% 35 Utilities: 0.99% 36 Vehicles: 1.14% 37 ALL OTHER EXPENSES: 4.33% 38 TOTAL OPERATING EXPENSES: 36.15% 39 Net Profit (loss) Before Tax 16.46% 8

NAPA AutoCare Operating Financial Results Category All Reporting Top 25% Your Results Sales: $711,249 $749,872 1 Net Labor Sales 49.20% 50.59% 2 Net Parts Sales 47.93% 46.14% 3 Sublet Sales 2.87% 3.27% 4 TOTAL SALES 100.00% 100.00% Cost of Sales: 5 Labor Cost (tech wages without benefits) 19.58% 18.10% 6 Parts Cost 29.71% 27.29% 7 Sublet Cost 2.68% 2.17% 8 TOTAL COST OF SALES 51.62% 47.39% Gross Profit: 9 Labor Gross Profit 60.20% 64.22% 10 Parts Gross Profit 37.88% 40.85% 11 Sublet Gross Profit 20.06% 33.96% 12 TOTAL GROSS PROFIT 48.38% 52.61% Operating Expenses: 13 Accounting 0.61% 0.40% 14 Advertising 2.37% 2.49% 15 Computer (Including Depreciation) 0.67% 0.39% 16 Equipment 1.54% 1.09% 17 Insurance: General 1.25% 1.02% 18 Insurance: Health & Benefits 2.05% 1.46% 19 Insurance: Workman s Compensation 1.05% 0.87% 20 Interest 1.20% 0.69% 21 Payroll: Benefits: 0.87% 0.67% 22 Payroll: Contract Labor 0.47% 0.24% 23 Payroll: Manager: 4.93% 4.76% 24 Payroll: Office 3.66% 3.62% 25 Payroll: Owner 6.03% 5.52% 26 Payroll: Service 0.29% 0.29% 27 Payroll: Service Manager 5.24% 5.07% 28 Payroll: Taxes 3.64% 2.88% 29 Payroll: Uniforms 0.59% 0.58% 30 Payroll: Professional Fees 0.36% 0.30% 31 Rent / Mortgage 6.27% 4.88% 32 Supplies: Office 0.74% 0.78% 33 Telephone 0.73% 0.64% 34 Training 0.47% 0.58% 35 Utilities: 1.11% 0.99% 36 Vehicles: 1.23% 1.14% 37 ALL Other Expenses: 5.50% 4.33% 38 TOTAL OPERATING EXPENSES: 45.35% 36.15% 39 Net Profit (loss) Before Tax 3.02% 16.46% Copyright 2011 Vincent B. Waterhouse, The Waterhouse Group. All rights reserved. 9

Comparisons Average versus Top 25% Category All Reporting Top 25% Your Results Sales: $711,249 $749,872 1 Years in Business 18.8 14.6 2 Inventory $16,365 $14,368 3 Labor Rate $ 70.28 $ 69.76 4 Billing Hours 8.6 8.8 5 Days Open 263.9 265.3 6 Number of Bays 6.4 6.3 7 # R.O.s Completed 2,841 2,970 8 Number of Techs 3.67 3.82 9 Number of Support Staff 2.6 2.5 10 Total Employees 6.2 6.3 11 Inventory Turnover 12.9 14.2 12 Months Inventory Supply 0.93 0.84 13 Gross Profit return on Inventory $7.87 $ 9.84 14 Sales per Employee $113,982 118,651 15 Sales per Bay $110,787 113,962 16 Monthly Labor Sales per Tech $7,947 8,275 17 Annual Parts Sales per Tech $92,700 $90,573 18 Shop Avg. Monthly Parts Purchases $17,612 $17,065 19 Mo. Avg. Parts Purchases per Tech $ 5,759 $4,464 20 Daily R.O.s Completed per Tech 2.9 2.9 21 Dollars Per R.O. $250.31 $252.47 22 Total Payroll as Percent to Sales 41.1% 34.4% 23 Total Payroll as Percent to Gross Profit 87.9% 66.5% 24 Total Support Staff as Percent to Sales 14.7% 12.0% 25 Total Support Staff as Percent to G.P. 30.7% 22.9% 26 Annual Gross Profit per Employee $55,139 $62,420 27 Factory Efficiency 59.6% 61.1% Other Information NAPA TRACS users 53.9% 41.5% Have All Data System 42.3% 39.6% Have Mitchell System 69.2% 58.5% Have All Data and Mitchell System ASE Certified Level A1 Engine Repair 73.1% 82.1% ASE Certified Level A2 Automatic Transmission 61.5% 67.0.% ASE Certified Level A3 Manual Drive and Axles 61.4% 68.9% ASE Certified Level A4 Suspension & Steering 65.4% 80.2% ASE Certified Level A5 Brakes 73.1% 84.0% ASE Certified Level A6 Electrical Specialist 69.2% 76.4% ASE Certified Level A7 Heating & Air Conditioning 69.2% 78.3% ASE Certified by Level A8 Engine Performance 69.3% 79.3% AAA Approved 50.0% 34.9% 10

NAPA AutoCare Benchmarks - Parts Sales $ Parts Cost $ - Parts Gross Profit The difference between the sales price charged and the parts cost. Parts Sales should include shop supplies. = Parts Gross Profit $ Parts Sales $ = 0.00% = Parts Gross Profit% = Target: 45-50% Top 25 40.85% - Labor Sales $ Tech Wages - Labor Gross Profit The difference between the sale price of labor charged and the cost of tech wages (without Benefits). = Labor Gross Profit $ Labor Gross Profit $ = 0.00% = Labor Gross Profit% = Target: 67-70% Top 25 64.22% Sublet Gross Profit The difference between the sale price of sublet services charged and the cost of the sublet services. Examples are towing, machine shop work etc. - Sublet Sales $ Sublet Cost = Sublet Gross Profit $ Sublet Sales $ - = 0.00% = Sublet Gross Profit% = Target: 35% Top 25% 33.96% Total Sales per Employee Measures how productive your workforce is by converting all hourly employees on a full time equivalent basis. It can help you determine if you are overstaffed. Calculate full time equivalent employees (FTE) by dividing hours worked by employees by an average month (173 hours) = (FTE) 1. Monthly Hours Worked 173 Hours = FTE 2. Sales $ FTE = $ Volume per Employee 1. 2. = Target: $120,000 0.00% Top 25% $118,651 Net Profit Before Tax Calculates the amount remaining from each sales dollar after paying all expenses. It measures the overall level of profitability. Profit Before Taxes $ Sales $ = Net Profit% = 0.00% Top 25% 16.46% Copyright 2011 Vincent B. Waterhouse, The Waterhouse Group. All rights reserved. 11

NAPA AutoCare Benchmarks Inventory Turnover Measures the number of times the value of your entire parts inventory was sold at cost. If inventory turns are too high, you don t have enough inventory on hand and can lose sales or suffer decreased Factory Efficiency because of waiting for parts. If turns are too low, your sales do not justify the dollars invested. (Annualized) Parts Cost Average Inventory = Inventory Turnover = 0.00% Target: 8.1-15 Top 25% 12.9 Sales Dollars Per Repair Order This is a measurement of job profitability. A low amount per repair order indicates too many non-profitable jobs and may not be checking the vehicle thoroughly for additional needed work. A high dollar per repair order is an indication that you work on newer and more expensive vehicles, find other repairs that the customer would like to have fixed, and sell complete jobs rather than patchwork. Total Sales $ # Work Orders = Sales Per Work Order = Target: $275 - $325 0.00% Top 25 $250.50 Monthly Labor Sales Per Technician Measures how efficiently technicians are performing. The higher the number, the more profitable the company. If too low, it could be an indication that you may not have enough sales to justify the number of technicians, techs are unskilled, or inefficient. If high, it is an indicator of higher sales, good organization, proper equipment, adequate working space, technical competence. Your minimum goal should be 80%. That is consistently billing 6.4 hours out of 8. Monthly Labor Sales $ # Technicians = Monthly Labor Sales Per Tech = Target: 11,000 90% of monthly potential 0.00% Top 25% $8,275 12

NAPA AutoCare Line Item Description and Definition 1 Net Labor Sales Just Labor Sales Less discounts and tax. 2 Parts Sales 3 Sublet Sales All Parts Sales less discounts (excluding fuel and tires). Include tire sales if you do not stock them. Shop supply charges should be considered part sales because they come on your parts bill. All Other Sales: a- machine shop, b- towing (if you don t own tow trucks), c- hazardous waste, d- all other (exclude tax) 4 Total Net Sales Sum Total of Above 5 Labor Cost (tech wages unloaded) 6 Parts Cost 7 Sublet Cost Technician gross wages including incentives and bonuses paid. Does not include employer benefits or employer taxes. Cost of parts if computerized, take from cost of sales report; if not use total years parts purchased (include tire cost if you do not stock them). Include shop supplies. Cost of machine shop, towing etc, hazardous waste and shop supplies. (All outside services) 8 Total Cost of Sales The Sum total of above lines (5+6+7). 9 Accounting Fees Payments for accounting and bookkeeping fees including tax preparation. 10 Advertising 11 Computer Expense Payments for yellow pages, AutoCare fees, TV, radio, newspaper, dues, subscriptions, charity, trade organizations, fliers, business cards etc. Hardware, software maintenance, support fees, purchase or lease payments, supplies, catalog support fees, All Data, Mitchell, etc. 12 Equipment Purchases or lease payments for equipment; repairs and maintenance. 13 Insurance: General Umbrella, fire, casualty, public liability and property (not real estate). 14 Insurance: Health All payments for health insurance (employer cost only). 15 Insurance: Workman s Compensation All payments for workman s compensation. 16 Interest / Finance Charges 17 Payroll: Benefits Interest on any debts not included in any other payment (example: equity loan, cancelled checks, credit card fees etc. All payments for pensions, profit sharing, 401k, retirement, flowers, gifts, Christmas parties, etc. 18 Payroll: Contract Labor All payments for non-payroll contracted labor (not revenue related as in sublet). Do not include sales tax in any revenue category Copyright 2011 Vincent B. Waterhouse, The Waterhouse Group. All rights reserved. 13

NAPA AutoCare Line Item Description and Definition 19 Payroll: Manager All wages, salaries, and bonuses (excluding benefits and employer taxes). 20 Payroll: Office 21 Payroll: Owner All wages, salaries, and bonuses for office personnel (not including benefits or bookkeeper). Wages, salary, and bonus for owner (excluding benefits and employer taxes). Most owners working in their business multitask. Ex: If the owner does the job descriptions on lines 5, and 23, of the operating statement then split owner s salary accordingly and apply to that position. If you are an absentee owner or do not work in any of these positions, then enter your salary in line 21 Payroll: Owner 22 Payroll: Service: All payments for payroll processing services i.e. ADP, Paychex etc. 23 Payroll: Service Manager: All wages, salaries, and bonuses for service manager or managers (not including benefits). 24 Payroll: Taxes All taxes paid, i.e. FICA, FUTA, SUTA FICA. 25 Payroll: Uniforms All payments for shop uniforms. 26 Professional Fees Payments for professional services, legal, consulting, etc. 27 Rent or Mortgage Payments made for rent / lease or mortgage and real estate taxes rent, building repair & maintenance, real estate taxes, amortization of leasehold improvements, building depreciation, building insurance, parking lot expenses, taxes. 28 Supplies Office All payments for invoices, stationary, pens, paper etc. 29 Telephone All telephone equipment, calls, and cellular service, pagers. Blackberry s, etc. 30 Training Tuition, ex (NIAT) travel, books, manuals, online services, Vin Waterhouse classes, etc. 31 Utilities Heat, electricity, water and sewer. 32 Vehicles 33 All Other Expenses Payments for purchases, leases, gas, oil, repairs, registration, insurance and maintenance. Equals Total Expenses (Line #34) minus the sum of categories 9 through 32. All expenses from income statement not addressed above. 34 Total Expenses Total expenses from the income statement (includes everything). 35 Net Profit Net profit or (loss) before taxes. Do not include sales tax in any revenue category 14

Vin Waterhouse Key Observations Net Profit Before Taxes Many customers did not take a salary. This fact slightly skews the net profit figures by making the net profit appear higher than it really is. FULL SPEED AHEAD The high profit firms produced $38,623 more sales, with a higher overall gross profit, and lower expenses as percent to sales. Rent averages $7,982 less in high profit firms versus average. The high profit firms shared the following traits versus the average shop. Top 25% Total Sales were $38,623 higher than average shops Sell more labor as a percent to total revenue (labor is more profitable than parts) Labor Gross Profit is 4% higher than that of average shops Parts Gross Profit is 2.97% higher than that of average shops Total Gross Profit is 4.23% higher than average Operating expenses are 9.2% less as a percent to total sales Average annual net profit is $101,922 higher than average shops Outperform average shops in several categories including factory efficiency, sales per bay, sales per tech, sales per repair order and labor sales per tech Vincent B. Waterhouse President The Waterhouse Group Copyright 2011 Vincent B. Waterhouse, The Waterhouse Group. All rights reserved. 15

More Tools to Help Put YOU in the TOP 25% Vin Waterhouse has expanded and added some powerful new services and they are available right now. 1) NEW! A complimentary Business Analysis if you attend my two day Financial Management for the Auto Repair Business. It is normally a $395 cost to non-autocare members and $195 for AutoCare members. 2) NEW Repair Shop Financial Software (Complete Online Management) which provides a monthly profit or loss statement and compares your monthly results to all other users as well as benchmarks of the top 25% most profitable shops. We have Heavy Duty, Collision Center and Auto Parts Store versions as well. 3) Full Accounting / Consulting Services. We can provide a monthly income and balance sheet with unlimited 1 on 1 consulting from The Waterhouse Group. It would be the equivalent of taking Vin Waterhouse s seminar every month for life. Updated to include webinars. 4) NEW 1-day version Introduction to Financial Management for the Auto Repair Business for owners or managers who would like to learn financial management but at a slower pace. 5) A 2-day Financial Management for the Auto Repair Business. Constantly being updated, this class includes a monthly dollar budget for every income and expense category of your business. It comes with a $440 scholarship so the net cost of this two day class is less than $100.00 with a money back guarantee. Check Vin s schedule on www. vinwaterhouse.com 6) A 1-day Service Manager Plus class. The service manager position is the most important position in a shop. A service manager can help double the average shop s net profit. At our class we will show you how. 7) A 3-hour Team Technician class for all shop employees. This class can be done day or night, plus we offer a webinar version so employees do not have to miss work. 8) The Supper Club Advanced training with one-day classes held every two months in your area. A perfect match for NAPA BDGs. It requires at least seven members to make it work and it is about 80% less than any of the established Twenty Group type training in the aftermarket. Copyright 2011 Vincent B. Waterhouse, The Waterhouse Group. All rights reserved.