Hunt Demarest with Paar Melis and Associates, Expert Accounting & Tax Services Specializing in Automotive Repair Shops.
MOUNT AIRY, Md., Sept. 12, 2023 /PRNewswire/ — Hunt Demarest, CPA/ABV of Paar Melis and Associates (a specialized accounting and tax firm for automotive repair shops) educates shop owners to make better financial decisions, resulting in greater success for them, and their shops. Paar Melis released a brand new first-of-its kind Industry Benchmark Report. This was done to serve automotive shop owners, who Hunt felt needed metrics and data to compare themselves to for a better understanding of their financial position relative to other automotive shops across the country.
“This benchmark report has been a concept I’ve been nurturing for years, with the intention of crafting and sharing with the industry. While I could have made educated assumptions about many of these figures, the depth of analysis we can achieve with this extensive dataset uncovers relationships that have not been explored to this level before. Since we have access to hundreds of financials of auto repair shops, we have a unique perspective of combining real verified financial figures alongside nonfinancial metrics gathered from our clients by our dedicated team.”
As an accounting and tax firm specializing in automotive repair shops, Paar Melis and Associates strives to educate shop owners to make smart financial decisions that can lead them to greater success for owners and their shops. In this report, there are metrics that are applicable to all shops, but it can be difficult to make comparisons between shops of different sizes, locations and type. To address these differing variables, we split up the data in a number of different ways
1. Location: Paar Melis works with shops nationwide so it seemed obvious to split our data into more localized sections to gain insight into local and regional trends.
2. Size of Shop (Sales): larger operators have a lot of expenses, but do some of these expenses represent opportunities smaller shops are missing out on? Does this influence factors such as profitability, GP, or overall success?
3. Type of Shop: Even beyond Parts GP (Gross Profit) and ARO (Average Repair Order), there were many trends that became clear when we started to sort Euro and Diesel shops from a general repair facility.
Hunt Demarest of Paar Melis and Associates, is qualified to speak on best practices and strategies because they have been providing unparalleled tax and accounting services to the automotive repair industry since 1992. They have over 600 auto repair shop clients. They are knowledgeable about specific tax laws that pertain to repair shops as well as most POS/SMS systems they use. That allows them to help shop owners really understand their financials so they can work together to improve the shop’s profitability. Since the automotive repair industry is their focus, they can provide industry specific insight that other accountants cannot provide. According to a current client, Brian Moak of “Heart Certified Auto Care” in Chicago, IL, “Paar Melis has been able to really help us master our data at a level that I have not yet been able to do with any other provider that I’ve worked with. Part of the big excitement around working with Paar Melis is that that data is why we think we’ll be able to catapult past our previous record year… I’ve never had the type of partnership that I’m feeling from an accountant before.”
About Paar Melis and Associates
Paar Melis and Associates was founded by Jason Paar and Reed Melis who have a wealth of experience providing expert accounting and tax service to automotive repair businesses since 1992. Services provided by Paar Melis include Accounting Services, Tax Returns, Bookkeeping, Valuations, Payroll, Succession Planning, QuickBooks Training, cleanup and tailoring. Visit www.PaarMelis.com for more information.
About Business By The Numbers Podcast
On the Business by the Numbers Podcast, every week, Hunt Demarest discusses the financial side of owning an auto repair shop, helping shop owners nationwide develop a core understanding of their shop’s financials. Visit https://paarmelis.com/business-by-the-numbers
SOURCE Paar Melis