Dealing with Slow Times
The tire business can be a seasonal one. It can also be geographical. Depending on where you’re located and what time of year it is, as an independent tire dealer, you may experience heavy sales periods followed by dry spells. Things you can do to avoid a total drought: • Have a “limited-time only” sale
7 Tips for Starting a Successful Workday
By adopting a few morning habits, you can increase productivity, focus, motivation and more. Set yourself up for success with these seven tips: 1. Establish a morning ritual Whether you choose to start your daily morning routine with a hot cup of coffee, a cold glass of water with lemon, a brief meditation session, or
Do You Need a Non-Compete Contract?
Whether your employees work directly with customers or in the service bay, they may come into contact with sensitive, competitive information that they could potentially use to establish a competing business nearby. Non-compete agreements may help your business safeguard trade secrets and other information, but only if they hold up in court. Some things to
7 Things You Should Know About Payroll Tax
Any time the federal government, a state government and a small business intersect, there are bound to be nuances. And when it comes to payroll taxes, those details matter; tax authorities take very seriously the withholding and remitting of funds from employees’ paychecks. Here are seven things you may not know about payroll taxes and
Tax Breaks for Working with Family
Could you use an extra tax break, however small? The answer might be standing right in front of you. Employing your kids has numerous benefits, whether to introduce them to the family business, enable them to make a little cash or just teach them some basic job skills. Not only is more money kept in
Performing Background Checks
While conducting reference checks on potential employees is a sensible way of managing your business risk, employers must carefully follow legal limits on the type and extent of background checks they can conduct. First, when making inquiries into an applicant’s past, ask for the consent of the applicant and get approval in writing. Inform the
Managing Cash Flow
Are you paper rich but cash poor? A business can be profitable on paper, but bankrupt in real life – if you don’t manage cash flow effectively. Without cash, a tire dealership will inevitably shut down, regardless of how profitable it looks on paper. You can be “rich” in accounts receivable and inventory but cash
Get ‘Em in the Door
The ‘Loss Leader’ Approach Want to boost sales? Try the “loss leader” approach. This sales technique involves significantly reducing the price of one item and using that as the “lead” to get customers into your tire store. Once a customer walks in the door, they’ll see other items of interest. In general, the loss leader technique
Size Matters
Being a small tire dealership can provide your shop a competitive advantage over big box and large retail stores. The secret for an independent tire dealer to capitalize on this advantage is to celebrate your size, not hide it. Corporate giants just can’t achieve the level of personal relationships that small businesses can, and it’s
5 Ways to Stay Out of the Courtroom
When it comes to business, there are so many things that owners need to do, the last thing they need is a lawsuit related to employment matters that can be easily avoided. Here are five tips to avoid employment lawsuits: 1. Document, Document, Document. The golden rule of human resources starts with documenting policies and
Turning Employees into Salespeople
Looking for new ways to address flat sales and low profitability? Try turning all your employees into salespeople. Regardless of an employee’s position or job description, there’s an opportunity for people at all levels to be salespeople. Here are eight ways to make sales part of every person’s job, adapted from Patricia Sigmon’s new book
Computer Health Checkup: Replace or Repair?
Every part of a computer serves a function, but much like a car, some parts do more than others. To provide the longest, most reliable service, high use, high wear components like monitors, printers, keyboards, hard drives, and removable drives all require timely maintenance. • Monitors exhibit specific symptoms when they start to fail. When
