For some reason, refinishing is one facet of our business that we accept losing partial revenue on, or are content with our ignorance of how to properly be compensated. Unless you’re adding priming as a separate line item, you’re donating the time and materials to the insurance company. You need to make some very basic but critical changes to your estimating and billing procedures so you can start being paid properly for all the pieces of the refinishing process.
The following is an interview with Chuck Gosney, President of Collision Billing, a company that could help bring the changes the collision industry desperately needs. In this interview, Domenico Nigro asks some direct questions on exactly how this company could bring needed change.
How much money are you losing each year by not charging for Feather, Sand and Fill (aka Feather, Prime and Block)? If you’re charging nothing, I can guarantee you $5,000 more in yearly profits if you follow this advice and start getting compensated for the necessary work you’ve always been doing.
Modern vehicles are complex and increasingly easily totaled; advances like anti-lock brakes and traction control have increased driver control, and increased consumer awareness has improved safe driving practices. This all translates into fewer repair jobs and collision shops must follow best practices to remain profitable. But what about business declines due to steering?