When you plan for a small business loan, you don’t have to go into it alone. You may have forecasts and solid research to support your loan application, but that won’t always ensure success. What do you do then?

Turn to your accountant to help you secure a small business loan! Do you know what your accountant can do for you? Here are three ways an accountant can help you secure a small business loan.

When it comes to managing payroll for your small business, you may be using your own accounting software. While the software offers the necessary features to comply with payroll regulations, the overall payroll process can be complex and time consuming, especially as you begin to hire more employees. Not to mention that mistakes in payroll are commonplace, and even a simple mistake can result in expensive fines.

Generation Y, also known as millennials, are tech-savvy consumers. They have grown up using the internet and mobile devices, and they have buying power.

By adjusting how you market and engage with millennials, you can reach and retain a large customer base that shows brand loyalty once they’re hooked.

Decision to Change Accountants

Contrary to popular belief, changing accountants for your small business does not have to be difficult, time-consuming, or awkward. With the right approach, changing accountants can be easy; so don’t compound any issues by delaying the process.

Average Repair Order (ARO) is one of the most important indicators of a healthy and profitable automotive repair shop. Increasing and maintaining higher ARO allows your staff to work efficiently while making the shop more money in the process.

When it comes to running a profitable auto repair shop, successful owners recognize the balancing act between maintaining a proper car count and maximizing the average repair order (ARO) dollars.

The best-run shops know their break-even point: the number of cars needed on a weekly basis multiplied by the average dollar per job that will earn enough gross profit to cover operating costs and expenses.

There’s a common misconception among automotive repair shop owners regarding labor rates. Some owners feel they need to offer labor rates under the local market average to attract and retain customers, and they’ve been targeting low rates for years based on the competition. This mentality can drastically affect your profits.

Is your shop only open during normal business hours, say from 8am to 5pm? If so, you may be leaving money on the table.

Profitable repair shops capitalize on the demand for early morning and evening hours on both ends of the traditional workday because customers don’t want to (or can’t) take time out of their regular working hours to drop off or pick up their vehicle.

For every business, proper financial management is crucial for success. If you look up the reasons why many businesses fail, poor financial management is usually listed as a top contributing factor. While small business owners are usually experts in their respective fields, rarely are they accounting experts. This is where a monthly accounting service comes in.

You may be thinking about selling your small business, but you’re unsure about the process or best practices. Solid preparation is the key to a successful sale. But, where do you start? Important factors to consider are timing, reasons for selling, documentation, legal obligations, and determining if you need professional assistance moving forward.