2011 Top Shop Finalist: Tate Boys Tire & Service
One co-owner is a retired professional baseball player for the San Francisco Giants. The other played college football for the University of Tulsa. And the chief financial officer was on Brigham Young University’s football team. It comes as no surprise, then, that Tate Boys Tire and Service runs like a winning sports franchise, from the
China Leveraging Outside Regulations to Build Stronger Industry
If you want to build an international market for your products, you need products that meet or exceed prevailing standards in all of the markets you wish to serve. Pretty basic rule, and one the Chinese government – and, by extension, its tire industry – have quickly learned. The weakest players in the PRC are
Story: Canadians Spending, Americans Scraping
Financial Post – As Canadians continue to push household debt levels to record highs, Americans are in full-fledged scrimp mode.Canadian household debt rose to a record high of $1.5-trillion in the first quarter, sending the debt-to-income ratio to a record 146.9%, figures from the Certified General Accountants Association showed. While the pace of accumulation has
Consumers Already Cut Spending Because of Rising Gas Prices
One-in-three U.S. consumers (33%) has already significantly reduced discretionary spending because of the increase of rising gas prices, according to the monthly Consumer Outlook Index from RBC Capital Markets.With the national average price at approximately $3.20 per gallon at the time the survey was conducted (Feb. 25-28) another 18% say they would reduce spending if
Tire Dealer Financials: Tracking Your Key to Success
Virtually all tire dealers have a business plan that they revise periodically – and if they don’t, they should. Part of that business plan should be a comprehensive financial plan, one that is easy to review and will tell you what you need to know to be profitable. Whether you’re an industry veteran or are
The $300 Billion Minority
Who is the "minority" that accounts for 85% of all consumer purchases? Women. Women buy 60% of all new cars, 53% of all used cars, and spend $300 billion annually keeping their cars repaired. And yet, a recent study of 200 Chicago car dealerships by economists Ian Ayres and Peter Siegelman shows that women usually
Tips to Boost Your Shop’s Financial Health
Although the economy has begun to shown some signs of improvement, tire dealers and other small business owners know that in order to succeed, they must continue operating cautiously. From cutting operating expenses to protecting cash flow and tightening overall finances, there are a variety of things dealers can do to boost their bottom line.
SEMA Show Wrap Up
At its annual meeting, TIA placed special attention on repealing recently enacted tariffs on imported China-made passenger tires and on getting a seat at the table when it comes to a new consumer education offering. TIA members approved two resolutions aimed at those issues. The first states that TIA “will strive to be a significant
U.K. College Students Pick Beer Over Tires
Kwik-Fit expresses concern that almost a third of car-owning students would rather blow their budget on a night out than fix a tire. Admittedly, finances are often tight while studying, but the fast fit giant points out it’s not just necessities such as books, rent and food that are taking priority over car maintenance. Kwik-Fit
Dunlop Zimbabwe Ends Toll Agreement
For several years Dunlop Zimbabwe has operated a toll manufacturing agreement – an arrangement under which foreign firms provide raw material finances so that Zimbabwean companies can manufacture products for them – with the Apollo Tyres subsidiary in South Africa. At the time of the scheme’s launch in 2006, the toll agreement was necessary for