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.
Dealer Diary: User-Friendly
User-Friendly For the past two years, Tire Review has brought you Dealer Diary, a monthly series that focuses on typical tire dealers and the ins and outs of their business.This year, we’re excited to be profiling a unique and well-known dealer – and someone whose primary focus is customer service – Barry Steinberg, owner of
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
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
No Typical Dealer: College Plan Leads Dayton’s Schardt to Success
No Typical Dealer Diary ProfileDave Schardt, OwnerThe Wheel SourceLocation: Dayton, OhioYears in Operations: 10No. of Bays: 3No. of Techs: 2 mechanics and 2-4 tire changersTire Brands Carried: Yokohama, Toyo, VogueAverage Jobs/Week: 40-50 wheel/tire jobs,10-20 service jobsRetail/Wholesale: 40-50%Other: Non-Tire Services: Springs, shocks, brakes, performance exhaust, superchargers, bolt-on horsepower items, NOS installation and refills, alignments, oil changes,
We Will Come Back’: New BFS Chief Says Actions, Not Words, Will Restore Confidence
The devastating impact of its massive voluntary product recall has taken a toll on Bridgestone/Firestone Inc. (BFS), its employees and, importantly, its dealers. But now that the recall effort is close to completion, BFS is starting to look to the future and standing squarely behind its century old Firestone brand. In his first extensive interview
Newest Kid in Town: Michelin/TCI Launches National Dealer/Distribution Program
Michelin/TCI Launches National Dealer/Distribution Program