Track your Numbers

Definition of KPI

A Key Performance Indicator (KPI) or performance indicator  is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages.   (From Wikipedia)

How Many KPI’s to use. My approach was to do all the KPI’s to find my baseline. ( This was an eye opening experience if you’ve never done it before) My gut for business was always pretty good but to have numbers to back up my instincts was very empowering.

I then look for any weaknesses and then focus in on those.  I usually use 2-4  kpi’s to plan my strategy and then keep track of my progress.

For example what I did after all my KPI’s were all done was notice my Oil Changes and New Customer numbers were low. So for the next few months my advertising and staff put a little more focus on building that particular part of the business. (To be able to focus my adverting dollars in the right place was great by product of all this.)

Key Point Indicators ( KPI )

This section has all the formulas you need to break every part of you business in easy to fill in calculations

Payroll Costs

Shop Efficiency Calculation

Expenses

Marketing Expenses

Parts Gross Profits

Tire Gross Profits

Labour Gross Profits

Total Gross Profits

New Customer Percentage

Labour Sales vs Part Sales

Non vs Tech Ratio

Average Hours per RO

Sale per Production per Employee

Average RO

Sale per available tech Hour

Effective Labour Rate

Door Rate

and more….

 

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