During a panel discussion on profitability best practices at the Driven Brands conference in Dallas, hundreds of attendees were introduced to their Edge Performance Groups (EGPs).
These peer-to-peer learning groups help shop owners and general managers in the Driven Brands Network receive coaching and feedback from their colleagues.
They offer in-person meetings with members and reviews of an owner or general manager’s financial metrics and key performance indicators (KPIs).
There’s no cost to participate in the meetings other than for travel. One panelist, Cameron Eisenhardt, owner of Sidney Body CARSTAR in Ohio, said he spent $5,000 in a year attending these meetings, but according to him, the investment was worth it as his profits increased significantly.
Wendy Murray, a Fix Auto and CARSTAR owner from the Seattle area, said she was hesitant at first. “Why would I want to share my books with my competition?” she rhetorically asked the attendees. She became more comfortable doing so after realizing everyone else in the program was in her shoes.
Another panelist, Jim Ryan, owner of Abra Omaha in Nebraska, said he never received a proper education when it came to finance, so the sessions offered by the EPG program were very beneficial to his growth and success.
Chris McDiffett, an operations manager for the Derderian group for Fix Auto in Southern California, shared what he has learned while in the program. “In the daily, aside from looking at top sales or gross profit, look at where you’re trending,” he said. “Are you hitting your goals?”
