Comp/Tech: Keep Your Face Out There
With the speed and freedom afforded by e-mail and Web sites, your employees may become isolated, focusing on the technology instead of the humans on the other end. And your customers may know you only through a Web address or periodic e-mails. Technology has changed the way we do business, but nothing happens in business
Retail Marketing: Treat Them Smartly
Barnum may have said “There’s a sucker born every minute,” but even he discovered that it doesn’t pay to underestimate the intelligence and buying savvy of the American public. Successful businesses don’t underestimate the American consumer, especially when it comes to high-ticket items. Most retail salespeople agree that their best customers are adept at seeing
Financial: Insurance Checkup
Financial Insurance Checkup Business insurance is one large fixed cost for any dealer. But periodic reviews of your insurance needs and status can help reign in some of those costs. Insurance is designed to protect you and your business from unexpected disaster, but careful consideration of real costs vs. anticipated costs can help you save
Management: This Space for Rent
There is an age-old question for tire dealers to consider: Do I buy or lease? That question extends down from the building itself to the equipment inside. But it’s the building itself that costs the most all around. Tire dealers need room. But should they buy or lease a structure? Sometimes a situation dictates what
Profitability: 5 + 5 = 50
Don’t think that 5% you just gave away to the customer makes a difference? Think again. If your dealership works on a narrow profit margin, raising prices just 5% will have a tremendous impact on your bottom line. Say your annual gross revenues are $1 million. With a 15% margin, profits are $150,000. Not bad.
And To All, A Good Night
I have a fistful of ideas on bits of paper, but no BIG IDEA for this month. So, ala Larry King, and in an attempt to clear my desk of those bits of paper, here are some random thoughts to close the year: As we all embark on much needed consumer education about tire
Will Lug Tires Remain a Driving Force?
Will Lug Tires Remain a Driving Force? Remember the days when nearly all car owners – except those in the southernmost states ®“ performed the ritual of mounting and removing snow tires each year? Many drivers even purchased separate wheels, dedicated for use during the winter to avoid the extra time and expense of the
Profits 101: A Little Education Can Increase Your Bottom Line
Profits 101 A little education can increase your bottom line. Attention, class. It’s a phrase that many throughout the tire industry have heard numerous times. It’s a phrase that many more still need to hear. Finding properly trained help is something everyone in the industry wants. Poor performers are financial drains on any business. But
Trailers Should Sometimes Come First
Trailers Should Sometimes Come First If the headline above caught your attention and conjured up visions of big rigs heading down the highway backward, we accomplished half of our mission. Make no mistake, we’re not advocating changing the direction of traffic flow, but we do want to underscore and explore the importance of devoting some
The “Big” Approach: Treating Smaller Fleets Like the Big Guys Can Help Win Them Over
When it comes to proper, dollar-saving tire maintenance, small and medium sized fleets – especially owner-operators with a handful of tractors – are probably the toughest customers. On their tires, and on their dealers. While they know they need tires, often times cost issues, the lack of a formal controlled vehicle maintenance program, and/or the