Passing the Baton: Creating an Exit Strategy
According to a 2015 survey by CNBC and the Financial Planning Association, 78% of small business owners intend to sell their businesses to fund their retirement, yet fewer than 30% have a written succession plan. Whether you are nearing retirement or have decades left, there’s no time like the present to begin forming your exit
Deciphering the Sidewall
There is a lot you can tell about a tire just by looking at it. Federal regulations require most of that information to be branded on the sidewall, though not all of the markings are included on every tire. Let’s take a look at the markings and their meanings. Size-Metric The first one or two
How to Fail
If you’re familiar with my Pinnacle Performance Training or you’ve been reading my columns in Tire Review over the past several years, then you know my focus is on success – creating a winning sales, customer-service and workplace culture that both differentiates and elevates independent tire and service businesses above and beyond the competitors. But
Pinpoint Marketing
In the past, targeting a specific area with your shop’s marketing message was somewhat limited: direct mail, newspaper ads, and radio or TV commercials were among the most popular methods. But even with classic target marketing, a tire dealer never really knew how many eyes or ears actually received the message, and often the cost
BFG Sales Go Online
Michelin North America’s BFGoodrich brand is joining the direct-to-consumer online sales path with the launch of its online tire purchasing program in September. Michelin will initially launch online sales through bfgoodrichtires.com in the greater Charlotte, N.C., area and will expand the program across the U.S. in phases later this year. Michelin branded tires won’t be
Dealers Go Beyond in Banff
As the morning fog lifted across the mountains of Banff, Alberta, 25 tire dealers gathered for a dealer meeting update from Falken Tires leadership on Aug. 9. During the meeting the tiremaker detailed the direction of the company, its products and its positioning within the marketplace. Mirroring the adventure vibe of its national consumer advertising
Step by Step: How a Brake Pad is Made
Even with zero moving parts, the common replacement brake pad is one of the most difficult components on a vehicle to engineer and manufacture. From the initial design to the final packaging, here’s a look at what it takes to make a brake pad. 1. The birth of a brake pad starts here in the
Proud to Be a Tire Dealer: Jason Greer
Two years ago Jason Greer, owner of Buckner, Ky.-based K&G Tire Pros, took money from his advertising budget that would normally go toward TV and radio advertising and instead put that money toward helping the community that’s helped him thrive. “Myself and a lot of my key employees are from the area,” Greer says. “We
Ag Tires: Looking Ahead
Have you ever looked back at your high school yearbook? Look at yourself, all young and full of hope, maybe a little naïve about life. Look at that hair! Look at what you were wearing! What were you thinking? Don’t worry. I’m not singling you out. We were all there with you. In the ’70s,
Embracing Online Sales
I’m experiencing déjà vu. Another tire manufacturer – Michelin North America – has entered the direct-to-consumer market. And no surprise, Tire Review’s website blew up with comments from tire dealers that manufacturers are out to steal the tire dealer’s business. I feel your pain. This direct-to-consumer sales trend hurts your business. You’re no longer in
Lessons from Danville
It’s been a few weeks since the calling hours and funeral of Billy Scheier. Somewhere in Virginia his son, Bill Jr., is probably in a classroom, searching for a new normal without his biggest fan. Wife, Wendy, is probably missing him every day, summoning the strength to smile when asked how she’s doing: “I’m fine.”
$47,476 is the New $23,660
On Dec. 1, 2016, about 4.2 million exempt employees in the United States will become non-exempt. And some of those employees probably work for you. The History of the Fair Labor Standards Act Enacted in 1938, the Fair Labor Standards Act (FLSA) mandates things like a federal minimum wage and requires overtime pay for all
