2018 Business Planning Guide: Business Value Checklist - Tire Review Magazine

2018 Business Planning Guide: Business Value Checklist

You've worked too hard not to get the most value out of your business. This special Business Value checklist will help you review your operations, to help keep things moving forward in a positive direction.

You already know that running a business can be a challenge. It takes a lot of work to keep all of your plates spinning – balancing customers, employees, operations and cash flow against your long-term goals for growth. To help keep things moving forward in a positive direction, we offer you this special 2018 Business Planning Guide. Whether you use it as a reminder, a to-do list or plan of attack in preparation for the year ahead, we hope the information will further your success.

Business Value

ο Review your supplier and partner contracts. Are you being held hostage by having too few relationships? Are your terms as strong as they should be? Are your partners providing the level of value you need to remain successful?

ο Map the competitive landscape. Who poses a real or potential threat to your business? This includes other tire dealers, corporate-owned retailers, warehouse stores, car dealers – even online vendors. Identify the strengths and weaknesses of each and how your business is able to compete and win business over them. And if you’re not sure how to stay competitive against any one of them, determine the changes you need to make and get a timeline in place for it.

ο Look at the numbers to identify trends in spending, fees, volume, etc. Sit down to review your year-over-year, month-over-month numbers line by line to identify ways to “sharpen the pencil” to make adjustments as needed.

ο Audit your pricing strategy. Are you pricing your products and services appropriately? Be aware of the financial implications of your pricing strategy and determine if it still makes sense based on the current market conditions. Lowest price is but one factor in consumer purchase preference – what additional value do you provide (perhaps not promoting as much as you should be) that can help justify your current pricing strategy? Are your charges and fees in line with others in your area?

For more business planning checklist items, see our Facilities and Equipment checklistTax and Legal checklistOnline Reputation checklistWebsite checklist, and Employee Handbook checklist.

To print an easy checklist of the full 24-point, 2018 Business Planning Guide click here.

You May Also Like

Consider Software Solutions to Streamline Operations

Representatives from several software providers share how solutions drive efficiency and profitability, as well as what to look for when considering a system in your shop.


When it comes to operating a successful tire dealership, software systems have become a necessity. Not only do they streamline the point-of-sale process and daily operations, but today’s software packages also offer solutions for customer communication, inventory, service writing and more.

We spoke with representatives from several software providers, who shared how these solutions drive efficiency and profitability, as well as what to look for when considering a system for your shop.

How Data, Analytics Can Boost Profitability for Tire Retailers

By collecting and analyzing data about a dealer’s sales history, inventory levels and market demand, data and analytics platforms can analyze the performance of each dealer’s store and recommend actionable improvement opportunities.

How to Start the PPP Loan Payback Process

For many PPP loan recipients, it is time to start the repayment process—or file for PPP loan forgiveness. Read on to find out which portion of your loan may be forgivable and how to apply for forgiveness, as well as how to start the repayment process.

Creating a Positive Work Environment

Larry Sutton of RNR Tire Express shares seven different practices that have helped him create a positive work environment.

Using Data to Enrich the Customer Experience

Attaching data or a number to a vehicle’s service record adds a level of transparency to the discussion, and moves it from an “opinionated upsell” to a true, fact-based service need.

Coats Tread Depth Data

Other Posts

Microlearning Makes the Tire Industry Smarter, More Profitable

Microlearning modules can be customized to company and team member needs, where participants can learn through their own experiences and at their own pace.

Setting Up for Success: The Importance of Onboarding New Employees

Onboarding serves to not only give a new employee practical information that they will need in the job, but having that information gives them confidence as they start out in their new position.

Online Reputation Management

Eighty-eight percent of consumers trust online reviews as much as they trust personal recommendations.

Loaner Vehicles: Drive Revenue, Customer Satisfaction

If managed efficiently, loaner vehicles can impact your business in many positive ways leading to higher sustained revenue.