Case 5: Right Money For Right Repairs
Case 5: Right Money For Right Repairs Can you make money selling complete tire repair service to your retail customers? Most of you would likely answer "No," grumbling about having to fix tires because that’s what the customer expects. According to Jerry Davis of Group 31 Inc., and Bill Johnson and Buck Blair at Tech
Mark-Up vs. Margin: Knowing the Difference Makes a Difference in Profits
Mark-Up vs. Margin Knowing the Difference Makes a Difference in Profits Independent dealers often buy service parts from auto dealerships because, for some applications, they feel the quality may be superior to aftermarket parts, or because certain parts are available only through OE sources. Unfortunately, auto dealers typically discount hard replacement parts about 20% to
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.
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
Business Operations: Minding Your Business Can Be Simple Way to Profit
Profit Handbook Business Operations: Minding Your Business Can Be Simple Way to Profit Independent tire dealers are truly entrepreneurs. Some have the past experience or education necessary to navigate the travails of being an independent businessperson in today’s world. Others rely on pure guts, guile and plenty of hard work, accepting that they will make