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.
Take a look back at some past Tire Review articles to get some ideas on how to boost your shop’s finances.
Don’t Let Your Cash Flow Freeze
How to Choose A Financial Advisor
Tire Industry Labor Shortage: Improve This to Keep Employees
I’ve spoken to many representatives from manufacturers, wholesalers and retailers who report that techs, counter people, drivers and even white-collar team members have walked off the job, failed to report, or given notice, and their businesses have been impacted by these departures. This isn’t just a tire industry issue—and goes beyond the tech shortage that
I’ve spoken to many representatives from manufacturers, wholesalers and retailers who report that techs, counter people, drivers and even white-collar team members have walked off the job, failed to report, or given notice, and their businesses have been impacted by these departures. This isn’t just a tire industry issue—and goes beyond the tech shortage that has plagued the industry for decades.
Consider Software Solutions to Streamline Operations
Representatives from several software providers share how solutions drive efficiency and profitability, as well as what to look for when considering a system in your shop.
How Data, Analytics Can Boost Profitability for Tire Retailers
By collecting and analyzing data about a dealer’s sales history, inventory levels and market demand, data and analytics platforms can analyze the performance of each dealer’s store and recommend actionable improvement opportunities.
How to Start the PPP Loan Payback Process
For many PPP loan recipients, it is time to start the repayment process—or file for PPP loan forgiveness. Read on to find out which portion of your loan may be forgivable and how to apply for forgiveness, as well as how to start the repayment process.
Creating a Positive Work Environment
Larry Sutton of RNR Tire Express shares seven different practices that have helped him create a positive work environment.
Other Posts
K&M Tire Dealers Go ‘All In’ at 2023 Conference & Trade Show
K&M Tire provided the fun, prizes and resources to dealers during its annual conference and trade show.
Synchrony Offers Four-Installment Payment Plans Through Clover App
Synchrony announced that merchants will now be able to offer a short-term, no-interest installment option, Synchrony “SetPay in 4,” via the Clover point-of-sale and business management system from Fiserv, Inc. This buy now, pay later (BNPL) offering will further expand the reach of Synchrony’s payments and financing options and enable select merchants that use Clover to accelerate
Using Data to Enrich the Customer Experience
Attaching data or a number to a vehicle’s service record adds a level of transparency to the discussion, and moves it from an “opinionated upsell” to a true, fact-based service need.
Microlearning Makes the Tire Industry Smarter, More Profitable
Microlearning modules can be customized to company and team member needs, where participants can learn through their own experiences and at their own pace.
