BEDFORD, TX – The Automotive Service Association (ASA) has announced another new tool to assist its members who specialize in collision repair. ASA, under the direction of Collision Division Operations Committee member Michael Anderson, AAM, owner, Wagonwork Collision, Alexandria, VA, has created a customizable gross profit calculator to help ASA collision repair members determine their profit margins based on percentage comparisons.
“It is imperative as business owners that we run our collision repair shops as ‘businesses.’ To do that we need to have a better understanding of the financial aspects of our businesses,” said Anderson, co-chairman of ASA’s Estimating Subcommittee. “Understanding the difference between markup and gross profit is certainly an area that has the potential to be misunderstood in our industry – especially by our insurance partners. Using this new tool provided by ASA will allow us as business owners to ensure that we are collecting and maintaining our desired gross profit – which as we all know is the key to building a budget and financial forecasting.”
The calculator is created in a Microsoft Excel format and includes two worksheets. Specific line items on the ASA calculator are customizable so users may create a calculator that matches their business practices. In addition, the calculator is set up to show users the various gross profit amounts by displaying results in several percentage increments.
The calculator is the latest addition to ASA’s recent collection of collision tools designed to assist collision repair professionals in their day-to-day operations. Other tools available to members include a customizable supplement form and the recently developed refinish worksheet, which is a companion piece to one of ASA’s trio of fliers developed last fall. The three fliers are designed to help collision repair professionals educate their local insurance representatives about the correct procedures involved with blending. The fliers include repaired vs. new panel, LKQ vs. new panel and blend vs. new panel.
The new, customizable ASA calculator is available as a downloadable document in the Members Only section of the ASA Web site (www.ASAshop.org). ASA members may access the Members Only section of the ASA Web site by using their six-digit member number and following the prompts in the top right section of the home page. Nonmembers interested in joining the association or learning more about ASA’s member benefits may contact ASA’s membership department at (800) 272-7467, ext. 295. In addition, members and nonmembers are encouraged to access ASA’s electronic benefits portfolio within ASA OnDemand, which can be downloaded from www.ASAOnDemand.com.
