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PODCAST

Business By The Numbers

Hunt Demarest, CPA has consistently provided his financial business acumen to help move the industry toward greater heights of success and profitability. Hunt was recently referred to as a "terrific advocate of the aftermarket." He is the author of the book, Your Perfect Shop: How to Start, Run & Sell a Profitable Shop. In this book, he compiled some of the best practices for auto repair shop owners, whether they are just starting or have been in the business for years. Hunt"s podcast will provide

business management

All Episodes

39:19

Is My Business Worthless? [E089]

Business By The Numbers ·

2023/10/26

This week on Business by the Numbers, Hunt gets into business valuation: from tangible assets to the nuances of reputation and team value, all underlined by real client stories. Every business has value, and understanding it is pivotal for both sellers and buyers. Adapt and strategize for the future by exploring:• Valuation Nuances: Beyond the typical metrics, understanding true business worth.• Client Spotlight: Challenges of valuing businesses with unique personal touches.• Reputation & Team

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29:15

Solar Renewable Energy Credits [E088]

Business By The Numbers ·

2023/10/19

In this episode of Business by the Numbers, Hunt explores the world of renewable energy incentives and tax credits. From solar panel tax credits to the latest in EV charging station incentives, he breaks down some key points to help you make informed decisions for a greener future.• Solar Panel Tax Credits: Explore the benefits of solar panel tax credits for both residential and commercial properties, including how to claim them on your tax return.• Return on Investment (ROI): How to calculate the

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34:32

EV's - Electric Vehicles Credits Explained [E087]

Business By The Numbers ·

2023/10/12

This week on Business by the Numbers, Hunt explores if EVs are transport's future or a subsidized industry.Manufacturers' stance: e.g., Toyota's hybrid focus and a breakdown of the 2023 credit rules: Differences in dates, base vs max credits, and the significance of kilowatt hours, as well as insight into the business strategies of major players like Rivian and Tesla.Shift from kWh focus to U.S. sourced minerals & battery components, with clarifications on "Made in America" vs. "Final Assembly

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27:50

Government Shutdown Averted...For Now [E086]

Business By The Numbers ·

2023/10/05

Today on Business by the Numbers, Hunt talks about potential government shutdowns. He discusses why we're here, including the Ukraine funding and the political spending tug-of-war.• How can the wobbly government budget mess with our day-to-day? The ups and downs of the fiscal year and why getting those 12 funding bills passed is like herding cats.• Real Talk: If things go south, how bad can it get for our government workers and contractors? And what does it mean for the rest of us – not just in the

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32:55

Are You Insured? [E085]

Business By The Numbers ·

2023/09/28

This week in "Business by the Numbers," Hunt explores the vital role of insurance in safeguarding businesses against unexpected challenges. Through real-life cases, Hunt emphasizes the importance of tailored coverage and proactive communication with insurance agents.• Insurance Misconceptions: Not all "basic" coverage is sufficient.• In-Depth Case Studies: The consequences of being underinsured.• Specialized Insurance: Highlighting umbrella insurance and Employment Practices Liability Insurance

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36:24

The End of ERTC? (Employee Retention Tax Credit) [E084]

Business By The Numbers ·

2023/09/21

The ERTC (Employee Retention Tax Credit) is something Hunt has talked about in the past (See Episode 10 and 33) but this week, he wants to discuss the current status of the IRS with regard to auditing and follow-up on businesses that have claimed this credit, such as:IRS is upping their fines if you don't disclose all funds, even the legit ones.IRS amnesty programs: From a simple "Hey, I've got this account" to "I owe you, let's settle."The IRS usually has three years to ask for back taxes, but some

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31:08

Estimated Taxes and Tax Forecasting [E083]

Business By The Numbers ·

2023/09/14

This week, dive into proactive tax management. Whether you're wrapping up extended returns from 2022 or gearing up for the next tax year, now's the time to strategize. Hunt unpacks essential insights:• Tax Extensions: Can they shield you from audits?• Working with Accountants: Understand reasonable expectations and collaborate effectively to plan your taxes for the coming year.• DIY Tax Forecasting: Tools to craft a ballpark tax estimate for next year, plus ways to refine those figures.• Estimated

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31:02

Separating Profit Centers in Financials [E082]

Business By The Numbers ·

2023/09/07

This week on Business by the Numbers, Hunt discusses the challenges in a multi-service auto repair business, focusing on misconceptions about profitability. He analyzes a Trucking Business and the power of accounting such as: Understanding direct, labor, and overhead costs. The role of accounting tools in revealing true financial insights and evaluating hidden and opportunity costs.The pivotal decision to shut down an unprofitable transport sector leading to growth inthe primary business. An

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33:37

Benchmark Report: Top vs. Not Shops [E081]

Business By The Numbers ·

2023/08/31

The comprehensive Automotive Industry Benchmark Report is now live! Want the full details? Dive in at www.paarmelis.com.• Decoding Top Shops: How did we determine the crème de la crème of automotive shops? Today, Hunt sheds light on the meticulous methodology behind it. Is it about the sales charts, workforce strength, or the footprint in community welfare? Learn which set of metrics defined success.• The Stark Contrast: Hunt explores the big differences between the top-performing shops and the ones

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23:49

Industry Benchmark Report: Initial Thoughts [E080]

Business By The Numbers ·

2023/08/24

Do you recall episode 49, about the Automotive Industry Benchmark Report? Well, its release is fast approaching! Today, Hunt goes deeper into the origins of the report, the questions posed, and a sneak peek at some (surprising) discoveries.Nuanced relationships, direct or inverse, between different variables and metrics in the automotive industry.Linking Labor Rate and Profit: One key highlight from the report is the insight on the Overall labor rate and its correlation with profit. Were there

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35:10

ROTH Retirement Accounts [E079]

Business By The Numbers ·

2023/08/17

This week, Hunt talks ROTH Retirement:• What is the difference between a ROTH IRA and a ROTH 401K? What are the benefits and drawbacks to each? • How does taxation differ based on age? If you are over versus under 50 years old, how does this affect contributions? • How do personal goals and tax rates affect which retirement account makes the most sense? • If you have kids, how can you help them by starting a ROTH IRA while they are young and how can this impact them later? Thanks to our partners,

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26:06

Credit Card Processing Fees [E078]

Business By The Numbers ·

2023/08/10

In this episode of Business By the Numbers, Hunt discusses the topic of credit card processing fees and their impact on business. • Should businesses pass on these fees to customers? • Consider the customer's experience and the potential backlash of charging credit card fees. • Potential changes being debated in Congress that could affect credit card processing fees and rewards programs.Thanks to our partners, NAPA TRACS and PromotiveVisit NAPATRACS.com and GoPromotive.comPaar Melis and Associates –

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33:40

Are You Advertising Efficiently or Inefficiently? [E076]

Business By The Numbers ·

2023/07/27

Last episode, I talked about factors that play into calculating customer acquisition cost for your business. This week, I'll explore how you can figure out what an appropriate acquisition cost is for your shop. As usual, it's not a one-size-fits-all answer, but I’ll talk about a few factors that can help you decide: • Advertising Spend as a Percentage of Sales: Many successful businesses allocate around 6% of their sales for advertising purposes, but does this apply to all shops?• How much free

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23:13

Customer Acquisition Cost [E075]

Business By The Numbers ·

2023/07/20

Hunt delves into the critical topic of calculating customer acquisition cost and understanding its intricacies. • Defining the A+ Customer: How the type of customer plays a significant role in determining acquisition cost. Learn about factors that influence this cost and how identifying your ideal customer can optimize your marketing efforts.• The popular adage of "good, fast, or cheap - pick two" and how it pertains to your business. I'll talk about strategies to assess which approach aligns best

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37:03

Predatory Lending [E074]

Business By The Numbers ·

2023/07/13

In this week's episode, Hunt delves into the disturbing world of predatory lending, where borrowers are manipulated and taken advantage of by unscrupulous lenders. He’ll discuss things such as; • The circumstances that lead people to seek loans from predatory lenders• Insights into the functioning of these predatory lending "banks" and the strategies they employ to keep borrowers trapped in cycles of debt.• The various options available to business owners facing financial hardships, and alternatives

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32:20

Passing Your Business on to the Next Generation -...

Business By The Numbers ·

2023/07/06

Welcome back! Now, for part 2 of Passing Your Business on to the Next Generation. Today, Hunt continues to explore the crucial steps involved in transitioning your business to the next generation. Last week, He talked about effective communication, creating a solid plan, and achieving a balanced deal that ensures both your retirement and your children's success. Today, Hunt deep dives into some of the technicalities of the process, providing valuable insights to help you make informed decisions

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36:53

Passing Your Business on to the Next Generation -...

Business By The Numbers ·

2023/06/29

In this two-part episode of Business by the Numbers, Hunt delves into passing your business on to your children. In Part 1, he explores the key factors that can either strengthen or strain your family relationships during this process. Hunt shares valuable insights and personal experiences to guide you through this important transition, such as;• The Power of Communication: why open lines of communication are vital to ensure that everyone involved is on the same page.• Crafting a Solid Plan: Learn

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39:33

Interest Rates vs. Business Expansion [E071]

Business By The Numbers ·

2023/06/22

This week Hunt discusses the influence of rising interest rates on shop owners' business expansion decisions.• The recent decision by the FED regarding interest rates and the anticipated trajectory for the rest of the year.• What kinds of shifts in the current market have taken place for buying and selling shops, and how will these changes affect business owners?• Besides interest rates, what other pressing challenges do borrowers face in today's banking landscape?• Taking all factors into account,

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34:12

Are S-Corp Distributions/Draws Taxable? [E070]

Business By The Numbers ·

2023/06/15

This week Hunt discusses a common misconception surrounding S-Corp draws and how they are taxed.• What is a draw and how do you know how much you can take out of your business?• Does the amount that I pay myself have any relationship or impact on how much in draws I can take?• Do I pay tax on my draws?• What are issues that I could end up paying taxes on my distributions from my business?Thanks to our partners, NAPA TRACS and PromotiveVisit NAPATRACS.com and GoPromotive.comPaar Melis and Associates

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39:46

Memorial Day and a Reflection on Your Numbers [E068]

Business By The Numbers ·

2023/06/01

This week Hunt discusses how sometimes reflecting on the past financials isn't always fun but its always necessary.• What is the purpose of financials and how does past performance effect future expectations?• How can I utilize past months or years financials to judge the accuracy or expectations of sales targets and projections?• What can I learn from bad months and is there always something that needs to be done to change?• How to understand the difference between the new normal or a one-time

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130 results

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