Shop Local [E215]

Thanks to our Partner, NAPA Autotech Training and Pico TechnologyWatch Full Video EpisodeIn this episode, Matt shares a post he wrote after seeing yet another wave of “Who’s the most affordable?” questions in a local community group. He breaks down the hidden cost of chasing the lowest price, explains the local multiplier effect, and uses behavioral economics and game theory to show why short-term savings can create long-term pain—especially in auto repair. Matt also makes the case for educating employees on how small businesses really work, why ethical profit matters, and how small choices can preserve local options for your future self.Key themesWhy “most affordable” has become the default question in local recommendation threadsThe idea that every purchase has two prices: the invoice amount and the impact on the local systemLocal businesses as a “local multiplier”: wages, suppliers, sponsorships, taxes, and reinvestment staying nearbyThe trap of short-term savings: hyperbolic discounting, loss leaders, and loss aversionAuto repair reality check: low prices can shift costs into warranty travel, time loss, and future headachesGame theory framing: a repeated prisoner’s dilemma—individual “defections” (price-chasing) add up to fewer local optionsThe skilled-trade value problem: cars depreciate while homes/buildings appreciate, shaping perceived worth of the work“Profits aren’t evil”: ethical profit as doing what you said you’d do, for what you said you’d do it forThe case for educating employees on business economics so they understand pricing, margins, and sustainabilityPractical compassion: offering to cover card swipe fees and understanding why local goods can cost moreMemorable lines“Every purchase has two prices: the number on the invoice, and the impact on the system you live inside.”“The long-term consequences are invisible… until they’re painful and hard to reverse.”“Time—by far our most valuable asset.”“Residents and local businesses behave a lot like a repeated prisoner’s dilemma.”“Profits aren’t evil. I believe in ethical profit.”Audience takeawayIf you always optimize for the cheapest option, you may “win” today but collectively lose tomorrow: fewer trusted local providers, fewer skilled jobs, and less community resilience—especially in specialized services like auto repair.Thanks to our Partner, NAPA Autotech TrainingNAPA Autotech’s team of ASE Master Certified Instructors are conducting over 1,200 classes covering 28 automotive topics. To see a selection, go to napaautotech.com for more details.Thanks to our Partner, Pico TechnologyAre you chasing elusive automotive problems? Pico Technology empowers you to see what's really happening. Their PicoScope oscilloscopes transform your diagnostic capabilities. Pinpoint faults in sensors, wiring, and components with unmatched accuracy. Visit PicoAuto.com and revolutionize your diagnostics today! Contact InformationEmail Matt: [email protected] the Aftermarket A - Z YouTube ChannelSubscribe & Review: Loved this episode? Leave a 5-star review on Apple Podcasts and SpotifyThe Automotive Repair Podcast Network: https://automotiverepairpodcastnetwork.com/Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/