Reliance Brakes

One Stop Mechanic Shop based in Fairy Meadow, NSW. 
Increased net profit by 459% within the first year of coaching. 
Successfully launched a new product range, the first in the area. 
Moved out of a stagnation phase and is now on a growth trajectory. 
Greater understanding of financial numbers and decision-making. 

Reliance Brakes is a well-established auto mechanic business providing brake and mechanical services to customers in the Illawarra. Despite their long history in the industry, the business had reached a plateau in growth and was struggling with cash flow and financial management. In 2023, they turned to Scott from SK Business Coaching to help them revitalise the business and move beyond stagnation.

The Challenge

• Situation: Reliance Brakes faced significant cash flow issues, including old ATO debt that needed to be paid off. Before starting coaching, the owners had to inject personal funds into the business to keep it running effectively. Additionally, they had not reviewed or updated their pricing structure in over five years, and their marketing efforts were yielding inefficient results.
• Goals: The primary goals were to manage cash flow more effectively, pay down ATO debt, review and update pricing, improve financial reporting using Xero, and launch a new product line that would set them apart from local competitors.

The Solution

• Approach: At SK Business Coaching, I worked closely with the family to develop a strategy focused on cash flow management, pricing optimisation, and marketing realignment. We also implemented a new system for tracking money going in and out, which enabled the business to better manage its financial position and make informed decisions. This was the starting point before we could think about growth.
• Key Actions:
  • Cash Flow Management: Introduced cash flow systems to track money effectively and paid down half of the old ATO debt within the first year of business coaching.
  • Supplier Review: Evaluated all suppliers to ensure the business was getting the best deals and rates, further improving cost management.
  • Pricing Adjustments: Conducted a thorough review of the pricing structure and updated prices that hadn’t been changed in over five years. Implemented a system for ongoing pricing reviews to ensure profitability.
  • Improved Use of Xero: Encouraged better use of Xero by ensuring more accurate and complete data entry, which resulted in clearer financial reports and more informed decision-making.
  • Product Line Launch: Launched a new product line in the first year of coaching, which differentiated the business from competitors in the local market.
  • Marketing Refinement: Fine-tuned marketing efforts around the new product while discontinuing ineffective marketing channels, leading to more focused and successful campaigns.

The Results

• Quantitative Results:
  • Revenue Growth: Increased revenue by 28% within 12 months. 
  • Gross Profit Margin: Improved by 7% from better pricing and purchasing!
  • Net Profit: Achieved a 459% increase in net profit, reflecting improved operational efficiency and pricing adjustments.
  • Debt Reduction: Paid off 50% of old ATO debt.
• Qualitative Results:
  • Better Financial Management: With improved cash flow systems and better use of Xero, the business gained greater control over its finances and decision-making.
  • Successful Product Launch: The new product line helped the business stand out in the market and attracted more customers.
  • Enhanced Marketing Efficiency: By focusing on marketing channels that delivered results, the business reduced wasteful spending and maximised ROI.
  • Renewed Growth: The business successfully moved out of its stagnation phase and is now on a growth trajectory.

The Future

Reliance Brakes is now poised for further growth and success. The business plans to continue reinvesting in new assets and refining its product offerings to stay ahead of the competition. With a solid financial foundation in place, the owners are confident that they can sustain and build on their current momentum.

Client Testimonial

“Scott’s coaching has been a turning point for our business. We were stuck in a rut, with cash flow issues and stagnant growth. Thanks to his guidance, we’ve not only paid off a huge chunk of our debt but also launched a new product that’s set us apart from the competition. Our revenue and profits are up, and we finally feel like we’re back on track for growth. Couldn’t be happier with the results!”

 – Ford Family, Owner of Reliance Brakes – 

Ready to elevate your business and achieve similar results? Contact Scott today at SK Business Coaching to hear how I can help your trades-based business reach its full potential