Twenty years in and my shop still isn't making money. What now?
A busy shop that doesn't make money usually has a few fixable leaks: pricing, labor, parts margin or bills that slipped by. The building you own may also be worth more than you think.
If this sounds like youYou're busy, the bays are full, and somehow there's never anything left. You're tired of working this hard for so little.
What you can do.
Find the leaks
Look at labor rates, parts margins and the bills you pay every month.
Get help running it
A manager or partner can bring fresh eyes.
Sell and take the value out
Especially if you own the building, selling can turn years of work into real money.
What to watch for.
- Don't judge the business by one month.
- Separate what the building earns from what the shop earns.
- Ask for help before you're out of energy.
Owner to owner, and it stays private.
Lotus built software that tracks payroll, bills and performance for every shop we run, so we know what profitable shops look like. We'll give you an honest read on yours.
James StephensonLotus, Massachusetts and Connecticut
Quick answers.
Can a shop that isn't profitable still sell?
Yes, especially with the building. Buyers look at what the shop could earn.
Will Lotus tell me what's wrong?
We'll share what we see when we look at it with you.
Thinking about what comes next for your shop or building?
Tell James a little about it. Only James reads it, and the conversation stays private. No pressure, no broker and no mailing list.