This is a snippet of the transcript, sign up to read more.
I pay out $9,000 to $10,000 monthly to a glass company, making only about 10% profit due to these limitations. A lot of our work is warranty work and warranties, we can't mark up any sublets. So anything that we sublet to another company, Toyota doesn't allow us to mark it up. So I make zero on it. So I'm paying out a ton of money on these. Whereas, if we handled glass work in-house, we could make 67% to 68% on labor. For instance, on a Prius, glass work might take 12 to 13 hours at $62 an hour. Currently, I pay around $700 with zero markup, which isn't sustainable.
This is a snippet of the transcript, sign up to read more.
If a customer is paying out of pocket or through an insurance company we don't have an agreement with, we typically charge a 20% to 25% markup. Additionally, many glass companies, when dealing with ADAS technology, lane departure, and other systems, need to recalibrate cameras 99% of the time after replacing or reinstalling glass. These companies often do the calibration in-house and charge for it, which can cost $400 to $600 for a windshield on some vehicles. So, yes, there's a lot of opportunity there.
This is a snippet of the transcript, sign up to read more.
This document may not be reproduced, distributed, or transmitted in any form or by any means including resale of any part, unauthorised distribution to a third party or other electronic methods, without the prior written permission of IP 1 Ltd.
IP 1 Ltd, trading as In Practise (herein referred to as "IP") is a company registered in England and Wales and is not a registered investment advisor or broker-dealer, and is not licensed nor qualified to provide investment advice.
In Practise reserves all copyright, intellectual and other property rights in the Content. The information published in this transcript (“Content”) is for information purposes only and should not be used as the sole basis for making any investment decision. Information provided by IP is to be used as an educational tool and nothing in this Content shall be construed as an offer, recommendation or solicitation regarding any financial product, service or management of investments or securities. The views of the executive expressed in the Content are those of the expert and they are not endorsed by, nor do they represent the opinion of In Practise. In Practise makes no representations and accepts no liability for the Content or for any errors, omissions, or inaccuracies will in no way be held liable for any potential or actual violations of laws, including without limitation any securities laws, based on Information sent to you by In Practise.
© 2024 IP 1 Ltd. All rights reserved.