How to make money in the automotive industry

Thhe, anyone considering this field, learn from what I have to say. This field is a black hole. The money isn’t there, the UTI commercials are a lie to get you in the door so they can profit from your student loans. I flagged I was there for 50 hours both weeks. I am drowning in student loan debt and tool debt. Customers are stupid blockheads who just look for the cheapest oil change deal that week and never do any needed maintenance. You go for broke. This industry is broken, you will be broken, this isn’t how to make money in the automotive industry like your hobby car, this is hard work, low pay and bullcrap pay systems to make your automotivee even lower. I don’t care how much you know or how much you love working on cars, you will be starved out at the beginning stages unless you live at home with mom and dad, no wife, no kids, and they feed you. Don’t learn the hard way like me.

How Much Do Bloggers Make?

You may be tempted to overlook the automotive industry when you’re considering careers that pay lucratively, but a few careers in this field can pay well. Auto careers range from driving race cars to building a prototype for a new car. You can work on traditional cars, developing new ways to make them run better, or be involved in groundbreaking work in the growing electric car industry. Depending on the specialty you choose and how much education you have, working in the industry can bring you a good salary. Workers who specialize in body repair are the highest paid of all car repair technicians, according to data from the Bureau of Labor Statistics. The body repair employees who work for car manufacturers or the government make even better pay, according to BLS data. Car racing is a particularly lucrative field in the auto industry. Electric vehicles are a newer field within the automotive industry. Because work with electric vehicles is so specialized and typically requires a higher education, the pay is similarly greater, according to the BLS. Electric vehicles have a big need for engineers of differing specialties. Insurance specialists play a vital role in the auto industry whenever accidents and crashes occur, and they receive relatively high salaries to go with their responsibilities.

4 Common Reasons for Starting a Blog

Auto claims adjusters usually have to undergo two years of vocational training, along with work experience, to identify and estimate car damage. The automotive industry wouldn’t be complete without considering the salespeople who make the final connection between a new car and its new owner. Sales associates have variable pay that depends on the dealership where they work, the compensation structure and how much of a bonus they can get for a certain number of sales. First-line supervisors of auto sales associates make relatively high salaries. With features published by media such as Business Week and Fox News, Stephanie Dube Dwilson is an accomplished writer with a law degree and a master’s in science and technology journalism. She has written for law firms, public relations and marketing agencies, science and technology websites, and business magazines. Share It. Wind Turbine Elevator Installers

Make Money with Your Car

If you are an auto mechanic, you can make alot more money than just working for someone. There is a world of money making opportunities available to you as a auto mechanic. Auto mechanics have unique skills not available to many people. You can turn your skills into money making ventures. This may or may not be something that you are interested in but take a look at the available opportunities below. There are many people who hate to take their car into the dealership for service. But if they know that you will do the work for them outside of the dealership they will be more than happy to pay you for it. For this reason you can market yourself to your area as an independent auto mechanic of sorts. This can bring in a bit of extra money for you in no time at all. Many new owners wants a review of a used car before they buy them. You can these people who are in the market for a used car. They will come to you when they have found a car that they like and then you will check it out for them in order to ensure that everything is in order.

How Do Car Companies Make Money?

Show less Ask a Question Related Articles References. The ultimate goal of any business is to make moneybut it can’t be done overnight. Creating or running a successful business takes creativity, planning, and above all, hard work. You’ll have to start with a good idea and then run your business better than your competitors.

Along the way, you’ll need to overcome obstacles and make the right connections to allow your business to grow. With a bit of luck and a lot of determination, you can soon be on your way to success. Chris McTigrit is an Accounting Professional. Chris has over 20 years of accounting experience including working for the Arkansas Department of Finance and Administration.

Categories: Running a Business Business Finances. Log in Facebook Loading Google Loading Civic Loading No account yet? Create an account.

Edit this Article. We use cookies to make wikiHow great. By using our site, you agree to our cookie policy. Article Edit. Learn why people trust wikiHow. There are 20 references cited in this article, which can be found at the bottom of the page.

Get the right attitude. Business is a game of carefully calculated risk-taking. If you can’t handle the pressure of making crucial decisions that could potentially sink your business on a daily basis, you’re not ready for the business world. Approach each decision by assessing what the worst-case outcome of that decision would be. In other words, what’s the worst that could happen? Use that knowledge to make decisions by weighing risk and potential reward.

Keep in mind that you can learn from your mistakes and use what you learn from them to succeed later on. You should always be open to learning new ideas and incorporating them into your business practices. Stay focused and keep spending under control. Your business won’t make any money if you’re constantly taking out your earnings and spending. Actually, your business may not make any money at all for a considerable period of time. That is why you have to stay focused and keep working to implement your business plan.

Keep on making and achieving those short term goals until it clicks and your momentum drives your business to success. Any money that you can reinvest into the business will only help it to grow and increase your potential future income streams. Stay updated with your industry. Read magazine and newspaper articles that relate to your business interests or business.

Follow famous leaders or innovators related to your industry on social media and stay up to date on their thoughts and actions. Attend seminars, join trade associations, and subscribe to publications.

Read every relevant book that you can. Only by learning and staying up to date can you learn where the market is going next and how to innovate past it. Develop a habit of writing your goals down as a list and making daily actions to achieve. Divide your list into short term and long term goals. The short term goals should be a path to achieving the long term goals. For example, for the long term goal of the starting the business you write down short term goals like gain financing and write a business plan.

You could then break these short term goals down even further into actionable steps. Writing down goals and actions to complete will also help you keep your business organized later on.

You don’t want to forget some crucial action that must be taken simply because you weren’t organized enough to remember it. Brainstorm business ideas. The idea for a business can come from a variety of sources. Perhaps you’ve noticed a problem in your life or the life of someone close to you that lacks a solution. Or maybe the industry that you’ve worked in for years is in need of a shakeup. Alternately, maybe you’re just looking for a business idea that you can sell to customers and make profitable.

Brainstorm ideas for days or weeks and come up with a list of reasonable ideas. When you have a list, consider, for each business idea: Who are your potential customers?

How would you set up the business model? Do you know enough about this industry to make it work? Pick a niche market and conquer it. No business, especially a small one, can appeal to all customers. In fact, a business is usually defined by the customers or markets they choose not to serve. To become successful, you’ll have to identify the niche in the market where your audience how to make money in the automotive industry. Start by thinking of what type of customers you want to serve.

Are they individuals or businesses? Then, look at the problem your business is solving from their perspective. What type of solutions do they want and how should it be done? Then, you can work within this niche to sell to your customers. Just make sure that your niche is substantial enough to sustain your growth. Write a business plan. The first step to actually starting a business is to write a business plan for it.

This will give you a basic structure that you can use to plan your goals and decisions. Keep in mind that this plan can be edited over time as you learn new strategies and adapt to your market. At minimum, a business plan should include a summary of the plan, a business description, market strategies, an analysis of competition, a growth plan, operation and management plans, and how financing will be acquired.

Do a break-even analysis. A break-even analysis tells you, quite simply, how long your business will have to be running to turn a profit. This is a helpful tool for understanding how much money you will need to invest before the business even has potential to see a return. This can help you plan for financing and create a timeline for repaying any debt that you may take on when starting the business. Alternately, you can increase your product’s price.

Keep good company. Successful entrepreneurs surround themselves with other successful people. They tend to feed off of their associates’ energy and success to enhance their. Make everyone you spend time with other successful, positive people. Make sure to avoid negative people or those who are chronically unsuccessful.

Attend conventions or industry meet ups. Be on the lookout for industry events in your area or major ones that you can plan to travel to. This may include annual conventions or meet ups organized on social media. By attending these events, you will be able to increase awareness of your business, make new connections, initiate new deals, meet potential new hires, and learn about current events in your field.

Send business to new connections. Constantly explain your business to people you meet and ask them about theirs. Then, ask them how you can send customers over to their business. This creates a more powerful connection with the other business owner that you can hopefully one day convert into additional growth for your own business. That said, you should not expect anything in return from these people. Maintain existing relationships. Some of your connections may not immediately, or ever, turn into business expansion opportunities.

However, it is important to maintain all relationships. Opportunities can come from unexpected places, so you need to be ready when they. Keep in touch will all contacts on a regular basis, either through emails, phone calls, or social media.

Even if a connection doesn’t seem valuable now, who knows where they’ll be in a couple of years. Create an online presence for your business. You have to have an online presence to succeed in today’s market.

Eddie spent 35 years in the automotive business with Honda. You’re a mechanic. You have been working on cars and trucks for a few years and you just don’t seem to be making any more money than last year. You ask yourself, «How can I earn a higher salary? I was shocked to see such low numbers, and I couldn’t help but wonder if someone had made a mistake.

How to Earn More as an Auto Tech

I can teach you the principles of being the best auto tech, and also teach you how to earn the highest salary as an automotive technician, but that doesn’t mean you. To earn more than you ever did before, you need to become someone you never were. I’m going to quote some of my mentors in this article because these are people who have embedded in me the philosophies and core values you need to have deep inside of you to be a better you. Did you ever notice some tech’s get all the good work and you struggle to make ends meet? Did you ever stop to think how they get all that work? Some will say they’re cherry pickers, or they’re the gravy master, or maybe they’re just upselling unnecessary work. That last statement might be true, but the fact of the matter is you can make just as much money as them, if not extremely better, without stealing or being dishonest. In fact, it’s just the opposite. If you become totally honest and transparent when working on your customers’ cars, you can make a killing. Build relationships with as many customers as you can, and get business cards! Every car you work on, every car you touch, even if you’re just in the parking lot and a customer asks you a question, take the time to answer it and show them you care. Before you walk away, ask if there is anything else you can do for them, but be genuine.