If you're like me and aren't good at marketing, don't do it on your own. Let the experts handle it. Touch HERE for more on Turnkey Marketing.

Tekmetric transformed my shop. Plain and simple. Want that for yours? Touch HERE

There are a lot of moving parts in a repair shop, opening the door to missing things. Don't let that happen to you. Learn more about Detect Auto

Register for Tekmetric's Tektonic Conference in Huston April 9-11 and use Code CONFESSIONS500 for $500.00 off. HERE

Hunt Demarest is a CPA with Paar, Melis, and Associates. Today, he joins Mike to talk shop financials, tax credits, and private equity. Hunt breaks down why consistent improvement—just 3% better each quarter—is more sustainable than chasing explosive growth. He offers a candid warning about risky investments, sharing his own hard lesson with a too-good-to-be-true real estate scheme. Finally, Hunt dives into the rise of private equity buying up repair shops, explaining how that's driving up valuations and changing the market for owners looking to sell.

Timestamps:
00:00 Incremental improvement beats unrealistic growth—why 3% better every quarter wins
01:10 Teaching personal finance at Vision 2026 (and why accountants don’t read your Social Security statements)
02:07 The truth about R&D tax credits and audit nightmares
03:44 What you must ask before taking any credit—defending yourself at audit time
05:03 Hunt’s background: how he got into auto repair accounting
08:08 Will AI replace your bookkeeper or CPA? Real talk, not hype
10:32 Why shop owners need to understand financial statements & what current ratio means for your cash
12:18 Managing AR, cash flow, and the case for paying vendors weekly
14:43 Shop profitability: 8 months out of 12 is the norm, not the exception
15:43 Trends: The scale and extremes of shop margins have changed MASSIVELY
17:21 Labor rates at $386/hr and what actually drives profit
18:54 The 20% net profit “gold standard”—and who really gets there
19:34 Why comparing owner compensation plus net income tells the real story
21:26 What’s the average net profit for shops? (Spoiler: it’s better than you think)
22:15 Beware public “industry average” surveys—actual profits vs. reported tax returns
23:01 Why working with an industry-specialized CPA beats a generic accountant every time
24:14 The inner circle: who should be on your financial “advisory board”
25:00 The most common (and WRONG) beliefs about shop accounting
29:53 Hunt’s biggest personal mistake: the $25k investment gone wrong (and what to learn from it)
32:10 Private equity: what’s happening, who’s buying, and what it means for YOUR exit
36:10 Should you sell now? How PE offers stack up vs. passing to family
37:06 Why PE doesn’t care about your P&L—sometimes it’s all about your customer count
38:02 Final thoughts, lessons learned, and why even the pros get it wrong sometimes

Tekmetrics' business model of listening to customers' needs and implementing new systems makes them super shop-friendly. Start using them at your shop today HERE

Turnkey Marketing has made my life SOOO much simpler, AND they've helped keep the phone ringing. Do you need these two things too? Learn more HERE

Elite Worldwide coaching has changed the game for me and my shop. Need a boost? Use Elite like I do. HERE

Register for Tekmetric's Tektonic Conference in Huston April 9-11 and use Code CONFESSIONS500 for $500.00 off. HERE

In this episode, Mike Allen and Matt Lofton go deep on the realities of starting a business partnership. Mike Allen shares lessons learned from his own experiences establishing partnerships, emphasizing the importance of clear agreements and communication. Matt Lofton draws from his experience with both successful and failed partnerships, highlighting the dangers of handshake deals and the need for thorough “what-if” planning.

Timestamps:
00:00 "Spring Break, Partnerships, Feedback"

03:17 "Partnerships: Risks and Considerations"

08:27 "Clear Terms Before Partnerships"

11:39 "Dissolved Partnership and Planning"

15:49 "Partnerships and Business Assets"

19:43 Private Equity Incentives Explained

21:55 "Effectiveness of Profit-Based Incentives"

26:23 "Financial Deep Dive Workshops"

29:27 "Key Points in Partnership Agreements"

31:14 "What-If Scenarios and Alignment"

38:38 "Managing Business Equity Dynamics"

41:50 "Front-End Business Agreement Setup"

45:03 "Revisit Business Agreements Regularly"

47:35 "Partnership Structure and Agreements"

52:26 "High-Value Networking & Insights"

53:38 "Best Shop Owners Seek Growth"

My marketing before and after signing up with Turnkey Marketing is pretty scary. In a good way. Get your marketing right today HERE

Tekmetric opened my eyes to just how much a good SMS will do for a shop. Their software is top of the line, and with them, so is my shop. Try them for yourself HERE

I was SHOCKED when I saw the things I was missing the first time I used Detect Auto. Simple things, but easy to miss. Detect Auto helped clean that up for me, and they can for you, too. Use them HERE

Register for Tekmetric's Tektonic Conference in Huston April 9-11 and use Code CONFESSIONS500 for $500.00 off. HERE

Travis May and Mike Martin are shop owners who coach with Elite Worldwide. Matt Lofton, as many of you know, is the Director of Coaching for Elite (and my personal coach/therapist). Today, we all talk about how having coaches through Elite have literally changed our lives and helped us in ways we may never be able to truly explain.

Timestamps:
00:00 Falling in love with your own success: Absentee ownership pitfalls
01:08 Meet the guests: Legacies, buyouts, and shop owner backgrounds
05:21 The journey to Elite: Why top shop owners chose coaching
06:30 Humbling lessons—how the Elite Master Service Advisor program changes everything
10:09 Accountability, habit-building, and real growth with ongoing coaching
12:17 2025 Recap: Big wins, tough months, and lessons learned
14:31 The owner’s struggle: Profit discipline & staying out of “the cookie jar”
16:02 Finally closing the building deal: How perseverance pays off
17:19 Navigating post-pandemic reality: The “sugar rush” is over
18:46 Big goals for 2026: Celebrating wins—and moving forward
20:40 The power of taking action: Why implementation beats excuses
23:45 Personal growth, team impact, and communicating with your staff
24:32 Best event takeaways: Coffee Bean Analogy & daily goal setting
28:15 Why community events and peer networks make all the difference
33:11 Biggest struggles today: Generational gaps & trusting your process
38:55 Parting wisdom: If you don’t have a coach, get one!