Hunt Demarest with Paar Melis and Associates, Expert Accounting & Tax Services Specializing in Automotive Repair Shops.
MOUNT AIRY, Md., Jan. 20, 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. Hunt released a blog post with information about the Business Outlook for 2023. This was in combination with partnering with “Aftermarket Radio Network” to produce and release a podcast, Business by the Numbers, with several episodes on the same topic.
“Let’s start off with a prediction: 2023 will be a flat year,” Hunt said. “The first 2 quarters will be the tipping point for the rest of the year. The 3rd and 4th quarters of the year will be strong,” he added. He goes on to talk about the Federal Reserve Rates from 2018 to present. “The outlook for the year is very much hinged on how the meeting goes at the end of January.”
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. On Paar Melis’ podcast and blog, Hunt offers a few suggestions for weathering 2023:
- Staying on top of advertising; acknowledging that there is a lead time for customer acquisition. While it can be tricky to time, it will pay off.
- Watch your numbers. Be on the lookout for trends and averages to gain an understanding for customer behavior. “Look at quotes, close rates, and ARO.”
- Along with looking at numbers, come up with action plans in worst case events. For example, “If I have below $80,000 in sales for 2 months, we’re doing plan A. If we’re below $50,000, we’re doing more extreme plan B, etc…”
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.”
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.
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
(443) 370 9447
SOURCE Paar Melis