CAPRICORN PRESENTS ‘STATE OF THE NATION’
Capricorn’s David Fraser was amongst the esteemed speakers for the AAAA’s Industry Leaders Forum
In his presentation, the Group Chief Executive Officer for the Capricorn Society, David Fraser, spoke about the findings of Capricorn’s inaugural State of the Nation research project and the subsequent 46-page report, which is now available to download free of charge for all at www.capricorn.coop/caphub
State of the Nation is the most substantial piece of research Capricorn has conducted in its 40 plus year history, informed by responses from more than 1,500 Capricorn members across Australia and New Zealand.
The report drills down on a number of core questions for the industry, including respondents’ motivations, fears, challenges and successes.
After reviewing the common challenges and threats, the report goes on to provide recommendations and information around five key subject areas: Work-Life Balance, Succession Planning, Knowing Your Value, Passive Marketing and Attracting the Next Generation.
“We covered a lot of insights and information in the session, but if I had to give some key recommendations, they would be as follows,” David said.
“Don’t be afraid to charge more. Lower margins are a concern but there are some easy wins for your bottom line. Charge for diagnostics, increase hourly labour rates and estimate your service times accurately.
“Let’s work together on pay rates. Attracting the next generation of technicians, and keeping our best staff long-term, is going to require making the industry more lucrative for the people who work in it.
“Cover yourself when it comes to customer-supplied parts. If you’re willing to fit them, charge extra for labour. Ask the customer to agree that if the part is faulty, they’ll pay for your labour to remove and replace it.
“Invest in scan tools and other tech. Don’t fall behind your competitors or risk turning away business because you don’t have the tools you need. Buy scan tools and recoup the costs by charging customers for diagnostic tests.
“And finally, consider changing or enhancing your marketing strategy. Don’t just rely on word of mouth and referrals to bring in new customers; do some targeted marketing. Asking customers for Google Reviews is particularly useful.”
To read the report in full, visit www.www.capricorn.coop/caphub
To listen to David’s presentation at the Industry Leaders Forum, visit the AAAA’s YouTube channel.