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Chasidy Rae Sisk

chasidy

Chasidy Rae Sisk is a freelance writer from New Castle, DE, who writes on a variety of topics.


She can be reached at crsisk@gmail.com.

 

 

Thursday, 23 April 2020 15:57

'Survive and Prosper Now' Discussed During ASA Northwest Sno-King Chapter Meeting via Zoom

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ASA Northwest’s Sno-King Chapter enjoyed a successful Zoom meeting April 16. ASA Northwest’s Sno-King Chapter enjoyed a successful Zoom meeting April 16.

Index

In mid-April, the Sno-King Chapter of ASA Northwest overcame the challenges of social distancing without sacrificing the service they provide members, by hosting a meeting via Zoom.

Dan Gilley, of RLO Training, discussed “Survive and Prosper Now,” sharing action steps shops should be taking during these uncertain times, with more than three dozen attendees.

 

ASA Northwest President and Executive Director Jeff Lovell kicked things off by welcoming attendees and opening the floor for feedback.

 

Attendees shared some of their experiences during the COVID-19 pandemic, such as reducing workforce or hours, minimizing contact with customers and offering new services to enhance the client’s experience. Several shop owners said while car count has decreased, the average repair order value has increased.

 

Lovell provided an update on association events scheduled for the summer, confirming ASA Northwest’s website is being frequently updated.

 

ASA Northwest Chairman of the Board Bryan Kelley contributed information abut the legislative battle related to the Low-Carbon Fuel Standard, and directed attendees to affordablefuelwashington.com to join the fight.

 

“Let other shops know what ASA is and what we offer to shops," Kelley said. "If you’re not in an association now, there’s a good chance you won’t be in business in six months, because you just can’t get the information fast enough on your own.”

 

“If people aren’t plugged into a resource like ASA, they are going to struggle," Gilley agreed. "There will be people who are hurting and don’t know what to do on the other side of this.”

 

Gilley’s list of action items shops should be taking started with ensuring safety. Sanitization and social distancing are critical, and shops should make sure to communicate frequently with employees.

 

“Regardless of your thoughts on COVID-19, the public perception is that it’s very serious, so you need to treat it seriously, so your customer feels safe doing business with you,” Gilley said.

Shop owners also need to look at their cash flow to determine where they can reduce expenditures. Gilley recommended cancelling low benefit and unnecessary expenses, renegotiating terms with recurring expenses and seeking extensions from vendors.

 

To increase incoming cash flow, proactively address accounts receivables, introduce new payment options to avoid holding the debt and monitor finances frequently.

 

“Use the ‘what can you afford’ strategy with customers who are at risk of defaulting,” Gilley suggested. “Setting up a small weekly payment keeps them engaged and keeps your money coming in.”

 

Debt management is always important, but it’s even more imperative during these trying times.

 

“Don’t take on new debt to maintain ‘business as usual,’ and use extreme caution with debt leveraging or debt bridging,” Gilley warned. “Renegotiate your debt for better terms when possible. You can also consolidate and refinance debt. Please avoid credit card debt if you can. There’s a reason it’s so easy!”


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