Issue link: http://osercommunicationsgroup.uberflip.com/i/1038158
Aftermarket Daily News Thursday, November 1, 2018 8 The Risk of Doing Business in the Automotive Aftermarket By Franco L. Ganino, A.A.I., First Vice President In the automotive aftermarket industry, risk is a huge part of doing business. From hiring practices to workplace injuries to vendor relationships, you face many risks. Despite this reality, many businesses simply don't have a working risk management strategy. Even the phrase "risk management" can be daunting and, chances are, you don't have the time to develop a multi- tiered risk mitigation plan. Where do you even begin? Here are five steps you can take as you head down the road of risk management. 1. Look under the hood. Take a close look at your business and ask yourself some questions. What are my goals? What's standing in the way of my progress? It's also a good idea to meet with a financial advisor, legal coun- sel and insurance broker/provider to make a plan that will address issues that may be at a higher risk for a loss that could harm the financial progress of the enterprise. 2. Identify trouble spots. Next, identify loss exposures. This encompasses anything that can lead to a financial loss (e.g., loss of use, damage or financial claims). Work with your team to create a checklist of common business exposures, and once you have completed the checklist, review it with your insur- ance partner and/or legal counsel. 3. Create a maintenance plan. When it comes to keeping your business running smoothly in the event of a loss or a claim, your most powerful tool is insurance. While it might seem like all insurance policies are the same, the wrong coverage can leave gaps that expose your company's bottom line. Don't look at insurance as simply an additional expense. See it as an invalu- able asset that will shield you from myriad risks. 4. Give it a tune-up. While exposures can creep in as your business grows, laws and reg- ulations change constantly. It is important to continue to review your business risk profile and work with your insurance broker and legal counsel to review all contracts. 5. Go with the pros. Whatever method of risk identification you use, one thing is clear: risk manage- ment and mitigation require an under- standing of the specific business and the unique economic, legal and regulatory factors that affect the industry. Partnering with an insurance expert that understands your industry is imperative to acquiring a policy and plan that addresses both your unique risk profile and budgetary con- cerns. About RevPro RevPro is a national insurance program custom built by Alliant to cover the wide-ranging risks of the automotive aftermarket industry. For more than 25 years, RevPro has proudly serv- iced a broad array of industry sectors, including parts manufac- turers, material suppliers, whole- sale distributors and many oth- ers. As the endorsed insurance broker of the Specialty Equipment Market Association (SEMA), you can count on Alliant's industry experts to build a powerful and cost-effective insurance program for your business. Thanks to the impor- tant SEMA member benefits offered through the RevPro business insurance program, certain coverages like prod- uct liability, product recall, garage lia- bility, garage keepers and auto are included automatically. About Alliant Alliant is the nation's largest specialty insurance brokerage firm, providing risk management, insurance and consulting services that safeguard the physical and financial health of thousands of clients throughout the United States. For more information, visit SEMA booth #20757, call 800.390.9099 or go to www.alliant.com/revpro. How JumpStart Auto Repair Empowers Female Victims of Domestic Violence By Katie VanderWielen, General Manager, JumpStart Auto Repair A few years ago, two Wisconsin-based domestic violence agencies came togeth- er to discuss an opportunity to help vic- tims with a recurring issue. Many women who sought shelter at these agencies were unable to leave an abusive relationship because they didn't have the safe, reli- able transportation they needed to get employment or education. A vehicle is often the path to self-sufficiency. Today, I'm proud to be the general manager of JumpStart Auto Repair, an automotive shop born to address the cru- cial barrier between domestic violence victims and their freedom. With the help of WE.org and the ME to WE program, Harbor House Domestic Abuse Programs and Christine Ann Domestic Abuse Services were able to create the nation's first garage for good, where the proceeds fund free and low-cost auto repairs for domestic violence victims. It's always been our belief that busi- ness should serve communities beyond industry needs. Customers know that when they get their vehicles serviced at JumpStart, they are going to get honest answers about their vehicle, along with expert education and service from our professional technicians. They're also going to leave knowing that they've made a meaningful contribution to help- ing domestic abuse survivors move towards self-sufficiency. Recently, JumpStart Auto Repair opened a female-operat- ed auto shop in Neenah, Wisconsin, which has already seen positive levels of customer reten- tion and satisfaction. In a shop like this, where women of all back- grounds come together and work for one another, we are able to foster a strong community dedicated to helping domestic abuse victims beyond their car repairs. Transportation is more than just the means to escape a perpetrator; the ability to repair and maintain a car can be a crucial step towards re-claiming independence. Through our educational workshops, we help women feel more comfortable and confident about vehicle ownership. The automotive industry is some- thing we are incredibly passionate about and we want to share our enthusiasm and expertise. Part of this initiative is also an effort to bring more women into auto repair careers – fewer than 10 percent of all automotive technicians are female. We want to change this by offering women skilled training and education into these well-paying, family-sup- porting careers. By offering a unique experience targeted specifically to the female customer, we also see an opportu- nity to help improve the culture within auto repair work so it's a more positive and fulfilling experience for women. We have been overwhelmed by the support in our community and from many local organizations, including Wisconsin-based Essity manufacturer of Tork branded task-based wipers for the automotive industry. To learn more about JumpStart Auto Repair, visit www.jumpstartautorepair.com. Visit Tork in SEMA booth #11013. Scosche Introduces New Products at SEMA The SEMA show is always a highlight of the Scosche calendar. Scosche has exhib- ited at SEMA for more than 20 years, and it's always an important, exciting and inspiring show for Scosche. Scosche is excited to premiere some new products at the show, including a new line of PowerSports mounts, 2nd Generation ITC kits and its award-win- ning Direct Fit Qi-wireless charging mount. Visit booth #11717 to hear about its new vehicle-to-vehicle safety partner- ship. Scosche Powersports mounts are used by professionals and enthusiasts on ATVs, UTVs, side by sides, motorcycles, PWCs, boats and more. Scosche BaseClamps and TerraClamps securely hold everything from phones, GoPros ® and fire extinguishers and include rearview mirrors and grab handles. The new TrailClamp line is designed to meet the needs of anyone who enjoys the great outdoors, such as RVers, fishermen, hunters and ATV riders. TrailClamps offer rugged, adaptable and affordable options with some models even featuring MagicMount™ magnetic mounts. Scosche introduced its first genera- tion of Integrated TouchScreen Control (ITC) installation kits in 2012. Now, in 2018, its second generation of plug-and- play ITC 2.0 dash kits allow easy replacement of the vehicle's factory stereo to any aftermarket DIN or double DIN unit. It's the first of its kind to include a dual, full-color touchscreen system to control the vehicle's air condi- tioning, as well as other technology sys- tems and convenience features. The new Vehicle Integration Line is comprised of three series: The ITC kits which contain touch panel control and Digital Display Retention Interfaces; The Link Series Interfaces offer all information necessary to keep the vehicle fully operable when the radio is upgraded to an after- market model, while including steering wheel retention; and The Link+ Series adds features like amplifier retention, reverse camera retention and/or USB retention. In addition to its window, dash and vent mounted options for wirelessly charging your Qi-enabled devices, Scosche now offers Direct Fit Qi- Wireless Charging surfaces. The Direct Fit comes in a growing line of vehicle make- and model-specific options, as well as a universal version that installs in any vehicle. The MagicMount Charge Surface received the 2018 TWICE maga- zine (VIP) Award and: delivers up to 10 Watts of charging power and offers the fastest charge possible for your device, regardless of brand; sup- ports Fast Charge for Apple and Samsung devices; comes in a variety of in-vehicle options, including surface, vent, dash, window and both magnetic or cradle mounts; is Qi-certified by The WCP for safety and per- formance and has foreign object detection for additional safety; has powerful rare-earth Neodymium magnets that are 100 percent device safe; and provides peace of mind with Scosche's Lifetime Tech Support and Limited Lifetime Warranty. Founded in 1980, today, three gener- ations of the Alves' family, together with more than 150 employees at Scosche, remain dedicated to perfecting the more than 4,000 products proudly designed and engineered in the United States. For more information, stop by SEMA booth #11717 or go to www.scosche.com.