This was fantastic. Excellent video, I think this was sage advice that crosses into almost any endeavor. I do wish you guys gave a better explanation of gross to net.
JUST KEEP SCAMMING PEOPLE IT WILL EVENTUALLY WORK!MAYBE TRY 99% GROSS MARGINS ON SERVICE LABOR."According to a study by the NYU Stern School of Business, the average gross profit margin across all industries is 36.28%.""Aug 23, 2024 - The average gross profit margin across all industries is 36.56%" "They found that a 39.1% difference in gross profit margin, 76.5% for pharma companies and 37.4% for the S&P companies."
Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors to raise, lower, maintain, or stabilize prices or price levels. Generally, the antitrust laws require that each company establish prices and other competitive terms on its own, without agreeing with a competitor. When purchasers make choices about what products and services to buy, they expect that the price has been determined on the basis of supply and demand, not by an agreement among competitors. When competitors agree to restrict competition, the result is often higher prices. Price fixing also includes agreements among competing purchasers or competing employers about the prices or wages they will pay. Price fixing is a major concern of government antitrust enforcement. Individuals and companies that knowingly enter price-fixing agreements are routinely investigated by the FBI and other federal law enforcement agencies and can be criminally prosecuted. Potential penalties include lengthy terms of imprisonment (up to ten years) and large fines (up to $1 million for individuals, $100 million for companies, or twice the gain or loss from the offense). Where appropriate, the FTC may also bring a civil enforcement action.
BONUS POINTS FOR A NADA CHAIRMAN! "But forming a trade association does not shield joint activities from antitrust scrutiny: Dealings among competitors that violate the law would still violate the law even if they were done through a trade association. For instance, it is illegal to use a trade association to control or suggest prices of members. It is illegal to use information-sharing programs, or standardized contracts, operating hours, accounting, safety codes, or transportation methods, as a disguised means of fixing prices."
Great job - everything you said is summed up into the statement, "You are not different, you are not special."
This was fantastic. Excellent video, I think this was sage advice that crosses into almost any endeavor. I do wish you guys gave a better explanation of gross to net.
You have my full attention. I have a super duper trainwreck currently.
JUST KEEP SCAMMING PEOPLE IT WILL EVENTUALLY WORK!MAYBE TRY 99% GROSS MARGINS ON SERVICE LABOR."According to a study by the NYU Stern School of Business, the average gross profit margin across all industries is 36.28%.""Aug 23, 2024 - The average gross profit margin across all industries is 36.56%" "They found that a 39.1% difference in gross profit margin, 76.5% for pharma companies and 37.4% for the S&P companies."
Hey,if they cut the shop rate in half wouldn't I be flagging twice as many hours and hanging more parts?
What's the difference between 8 hours x $100 and 4 hours x $200?
Great information. So much to learn from you guys.
This! So spot on. 👏🏽👏🏽👏🏽 great video
i have a question on the travel time for mobile techs. At what rate compared to their mechanical rate?
Yes.... I'm only getting paid 2% of labor..... I keep meaning to call this in
Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors to raise, lower, maintain, or stabilize prices or price levels. Generally, the antitrust laws require that each company establish prices and other competitive terms on its own, without agreeing with a competitor. When purchasers make choices about what products and services to buy, they expect that the price has been determined on the basis of supply and demand, not by an agreement among competitors. When competitors agree to restrict competition, the result is often higher prices. Price fixing also includes agreements among competing purchasers or competing employers about the prices or wages they will pay. Price fixing is a major concern of government antitrust enforcement. Individuals and companies that knowingly enter price-fixing agreements are routinely investigated by the FBI and other federal law enforcement agencies and can be criminally prosecuted. Potential penalties include lengthy terms of imprisonment (up to ten years) and large fines (up to $1 million for individuals, $100 million for companies, or twice the gain or loss from the offense). Where appropriate, the FTC may also bring a civil enforcement action.
BONUS POINTS FOR A NADA CHAIRMAN! "But forming a trade association does not shield joint activities from antitrust scrutiny: Dealings among competitors that violate the law would still violate the law even if they were done through a trade association. For instance, it is illegal to use a trade association to control or suggest prices of members. It is illegal to use information-sharing programs, or standardized contracts, operating hours, accounting, safety codes, or transportation methods, as a disguised means of fixing prices."
Enjoy the videos, what is your gross to net definition, does this include fixed expenses like rent?, I assume so, thought I would ask
I work at a School Bus Dealership and every item you listed, affects us. 😒