Bruised, But Battle Hardened Business [RR 992]

About this episode

Thanks to our Partner, NAPA Auto Care Recorded at the 2024 Automotive Aftermarket Retailers of Ontario (AARO) Business Management and Lindertech Training Trade Show, Armen Jacjakian, a shop owner who immigrated from Dubai to Canada, and Alan Beech, his business coach, share insights on overcoming initial business struggles, the importance of cash flow management, and the transformative impact of coaching. Listeners are left with valuable takeaways about the importance of mentorship, the need for flexibility in the workplace, and the critical role of customer service in building a thriving automotive business. Armen Jacjakian, Speedy Auto Service, Mississauga, ON Alan Beech, Beech Consulting Show Notes Automotive Aftermarket Retailers of Ontario (AARO): https://www.aaro.ca/ Armen's Background (00:02:59) Armen shares his journey from Dubai to Canada and his family's history in the automotive business. Challenges During COVID-19 (00:04:19) Armen describes the impact of COVID-19 on his new shop and the strict lockdowns in Canada. The Importance of Coaching (00:05:23) Armen reflects on how starting coaching with Alan came at a crucial time in his business journey. Experiencing Growth Post-COVID (00:06:34) Armen discusses the significant growth and operational experience gained after the lockdown period. Mental Health and Coaching (00:09:36) Armen emphasizes the importance of mental health support for shop owners through coaching. Finding the Right Coach (00:11:25) Armen explains how he connected with Alan and his initial skepticism about coaching. Immediate Changes from Coaching (00:12:41) Armen shares how he increased his shop rate after the first session with Alan. Looking at the Business from Above (00:13:39) Armen discusses the value of viewing his business from a higher perspective with coaching. Prioritization with Coaching (00:14:38) Armen highlights how a good coach helps prioritize tasks and goals for business growth. Key Man Investment (00:16:51) Discussion on the importance of hiring a key man and investing in talent for business growth. Coaching Perspective (00:17:25) Alan emphasizes viewing coaching costs as investments that yield profitable returns. Challenges of Growth (00:18:11) Armen discusses the need for further key hires to facilitate business expansion. Outrageous Rent (00:19:06) Discussion on the high monthly rent of approximately $15,000 for the shop location. Staffing Structure (00:19:33) Armen shares details about his staffing, including eight bays and six technicians. Customer Service Approach (00:20:31) Armen explains the necessity of finding a front desk person who aligns with his vision. Operational Efficiency (00:21:09) Discussion on the importance of managing multiple roles effectively for business efficiency. Trends in Customer Service (00:22:30) Exploration of the trend towards dedicated customer service representatives in automotive shops. Challenges and Opportunities (00:23:53) Alan discusses the dual nature of challenges and opportunities in the automotive industry. Remote Advisor Potential (00:24:24) Discussion on the potential of remote advisors to support multiple automotive shops. Flexibility in Staffing (00:26:39) Armen shares his approach to flexible work schedules for his technicians. Training Engagement (00:27:45) Alan reflects on the challenges of engaging a diverse audience during training sessions. Franchise vs. Independent (00:28:45) Armen discusses why he chose to open a franchise instead of an independent shop. Community Connection (00:30:20) Discussion about the Armenian community in Toronto and its connection to Armin's business. Restaurant Venture (00:30:52) Armen mentions his restaurant, highlighting his entrepreneurial diversity. Comparing Business Challenges (00:31:08) Discussion on the contrasting challenges between running an automotive shop and a restaurant. Thanks to our Partner, NAPA Auto Care Learn more about NAPA Auto Care and the benefits of being part of the NAPA family by visiting https://www.napaonline.com/en/auto-care Connect with the Podcast: -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on Twitter: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Special episode collections: https://remarkableresults.biz/collections