Business By The Numbers

This week Hunt discusses the basics behind debt and how to pay your debt down in a safe manor. • What factors go into evaluating whether debt is a good option or not? • How does leverage work with debt and how do you analyze the situation to make sure it will be a profitable one? • Do I actually want to be debt free or is this debt making me more money than it is costing me? • How do I select what...

This week Hunt discusses the current banking crisis and the collapse of Silicon Valley Bank. • What happened to Silicon Valley Bank, and are there other banks at risk of the same fate? • What risk factors played a role in the eventual collapse of the bank? • What role does the government play in these situations, and what are they doing to fix this? • What are the after effects of something like t...

This week Hunt discusses common mistakes and tips to better manage and protect your #cash. • How to understand if your personal spending requirements are hurting your business? • How can you ensure that you aren't taking too much out of your business? • Can there be too much cash in your business? What to do to minimize risk and maximize return. • What options exist to get a better return on my mo...

Thanks to our sponsor partner NAPA TRACS NAPATRACS.com This week Hunt talks about the debt ceiling as well as the national debt and how it is already affecting our lives. • How does the government generate and borrow money? • Who is financing the national debt of our country? • How are these issues affecting you right now, and what future input could that have on your taxes and customers? • What d...

Lack of Study of basic economics and statistics Reversion to the Mean Simpson's Paradox Inflation and Projecting Future Trends Hunt Demarest, CPA,  Paar Mellis and Associates ,  Business by the Numbers Podcast The show is sponsored by NAPA Auto Care napaautocare.com NAPA Benefits Center: napabenefitscenter.com NAPA Member Site: member.napaautocare.com Email Matt: mattfanslowpodcast@gmail...

This week Hunt talks about some tax season tips and common concerns that have been popping up with clients. • Are there any major tax law changes from 2021 to 2022 tax returns? • Are refunds smaller than the were in previous years and why is that? • How to help employee with withholding shortages to avoid end of year surprises. • What do you need to know before you file a personal extension? The S...

This week Hunt talks about the pitfalls of comparing your shop to other shops with misleading numbers. • How can you compare advertising budgets or methods across different kinds of shops? • Is a 20% Profit Margin a realistic target for your shop? • How can you tailor your business to overcome significant overhead expenses? • How does time factor into comparing profit? The Show is sponsored by: Sh...

This week Hunt sits down with Nick Warren, from Ark Financial, to discuss how to raise children that are financially responsible. • At what age can you start to talk about money or start building foundational knowledge about money? • How do you have a healthy conversation with your family about money? • Are there things that you need to understand as a parent or adult to allow you to empower the n...

This week Hunt talks about incentivizing key employees with profit sharing and how to hold them accountable for the overall company and its profits.  How to motivate key employees to think like owners Pros and cons of giving key employees minority ownership What are alternative options for incentivization? Caveats for expansion and/or quick growth  The Show is sponsored by: Shop-Ware on...

This week, Hunt talks about ROI (return on investment) and how to use it in your day-to-day decisions. • What is ROI, and how can you calculate it? • How does time relate to ROI and can your decision be changed based on time even if ROI is the same? • How does your involvement in an investment dictate what the ROI has to be to make it a prudent choice? • How can you use ROI to make day-to-day deci...

Recorded Live at the Transformers Summit with Aftermarket Radio Network host, Hunt Demarest, CPA at Paar Mellis and Associates and host of the Business by the Numbers Podcast. Hunt's firm specializes in automotive repair clients and he gives us an inside scoop on common new client questions and concerns as well as some behind the scenes about his podcast! Hunt Demarest, CPA,  Paar Mellis and...

In this episode of The Weekly Blitz, Coach Chris Cotton welcomes Hunt Demarest to the show and they talk about Income Statement best practices: Specifically, they cover: Categories of Income and COGS (Cost of Goods Sold) Hunt's Favorite SuperHero! Accounting Practices What's Deductible How much detail you really need Who's Stealing from You & How? Processes & Procedures save the day! Check...

This week, Hunt talks about a big project that we are working for an industry benchmark report. • What can you do be a part of the new report and when will it be released? • What kind of metrics we will be measuring and how will that allow you to set goals for your business? • How will non-financial data be included in the report to understand what makes successful shops run? • What conclusions an...

This week, Hunt talks about a quick update from the December Federal Reserve meeting and then talks about getting ready for tax season. • What did we learn from the minutes released from the Federal Reserve and how does that effect our outlook for 2023? • What should you be verifying with your accountant on your Quickbooks to make sure all your deductions are accounted for? • What do you need to s...

This week, Hunt talks about what he thinks 2023 will look like for small businesses and the overall economy. • What is happening with inflation, and why is it such an important metric to look at to make future predictions? • What is happening with interest rates, and how will that affect the economy? • How are the housing and auto markets affecting the auto repair industry, and what clues do we ha...

This week, Hunt talks about the year that was 2022, what you still have time to do now and how to look toward the future. • What do you want to do differently to make 2023 exactly what you want? • Do you have a goal that you want to hit for 2023 and does your team have a plan to achieve? • What should you be doing in the next year if you are planning to sell your business? • What other goals are y...

Accounting for Internal and Warranty Work. This week, Hunt talks about the ins and outs of accounting for your non-paid or warranty work. • What tickets do I run through my shop management software and what tickets do not go in there? • Why is it important to run my internal tickets at full retail versus cost? • What is the proper way to report repairs on my own vehicles or shop vehicles? • How ar...

This week, Hunt talks with Frank Scandura of Frank's European Service in Las Vegas. • What number do you focus on in your business lately and what have you done to change your business? • What is a key number or area of focus that most new shop owners don't understand? • If you were to start over what have you done differently knowing what you know now? • What do you foresee in the future for the...

How Much is Your Time Worth? This week, Hunt talks about how profit is relative to the amount of time you spend working in your business. •  Why is your own time rarely considered when measuring the success or failure of your business? •     How do you calculate your hourly rate that you are actually making from your shop? •     How can you im...

End of Year Tax Tips. This week, Hunt talks about how to make sure you are prepared for the end of year and taxes. • What do I need to be doing with my retirement and how can I make sure I maximize? • When is the deadline to make HSA and Traditional IRA contributions for this year? • What do I need to be verifying on my business financials and how does that effect me for taxes? • What do you need...

Matt Fanslow shares a recent interaction with a salesperson that wanted to help in the sale of the business. There were some warning signs, and with a call to an industry peer, Hunt Demarest, Matt stopped what could have been a costly mistake. Watch Episode HERE Matt Fanslow,  Riverside Automotive , Red Wing, MN,  Diagnosing the Aftermarket A to Z Podcast Hunt Demarest, CPA,  Paar Mellis and Assoc...

Self Rental Tips & Tricks. This week, Hunt talks about how to make sure you are limiting your liability and maximizing the benefits of renting real estate from yourself. • Why is it important to separate your real estate from your operating company? • How should you setup the entities for your operating entity and your real estate entity? • What is fair market rent and how do I figure this num...

Show Notes: Bank Loans 101. This week, Hunt talks about how banks judge your business for loans and what to do to ensure you are prepared. What items does a bank use to judge an applicant's creditworthiness? What is the difference between an SBA and a conventional loan, and what are good uses for either? How long are business loans for, and how can you maximize your cash flow? How can I use this i...

The Federal Reserve Explained. This week, Hunt talks about what is the Federal Reserve is and how they affect your finances. • What are the basic principles that allow a market to set a price? • How does the Federal Reserve use interest rates to change the spending patterns of consumers? • How do these swings in interest rates effect your customers and your business? • How long will this last, and...

Tech Pay Plans. This week Hunt dives deep into the different kind of pay plans and what sets them apart. • Is flat rate the devil and should be banned or is the only way that you should be paying your techs? • Are you able to properly motivate hourly employees? • Why is it so important to make a pay plan that is easy to understand? • How can you know if a team based bonus plan makes work for your...