The time you spend working “ON” your business is just as important as the time you spend working “IN” your business. Or, is it more important?
Working ON your business as a matter of routine will help it stand out from the competition, elevate its image and build trust — all of which increase your dealership’s profitability because they keep customers coming back for service.
Our Business Planning Guide special section is designed to help you work ON your business — to ultimately increase productivity and boost profitability — through articles that cover a variety of topics related to the everyday issues of running your dealership.
In the Bay Productivity article, Dave Crawford discusses how effective selling and controlling expenses are at the forefront of a manager’s hit list every day, but oftentimes to the detriment of focusing on keeping the bays productive. He offers five tips that help maximize bay productivity and, ultimately, improve your profitability.
Our Software Systems article takes a look at various software packages available in the market today that will help drive your dealership’s revenue. It provides an overview of various features, including computerized bay management and online appointment scheduling, tracking inventory and maintaining proper pricing, capturing customer/vehicle data for your marketing efforts, as well as advanced features, including integrated mobile inspection apps for tablets or phones that link directly with your POS system.
The Customer Financing article details no/low-credit financing and lease-to-own purchasing options that help remove the roadblock to affordability for your cash-strapped customers so they are able to get needed repairs — resulting in a safer vehicle for customers and adding to your bottom line.
The Business Succession Planning article shares advice from an M&A expert about how to prepare for the eventual sale of your business so you can enjoy the fruits of your years of labor. The article advises that even if you don’t think you want to sell your business any time soon, it is a good idea to inform yourself about how the sale process works and start thinking about your business’s future. You never want to be in a situation where you’re forced to sell under terms that are not favorable to you and your family.
As a business owner, you’re always looking for ways to improve sales, cut costs, increase productivity and boost customer service. You’re working harder and faster today to stay ahead of the competition and increase profitability. But you really need to be working smarter. We hope the articles in this issue will help you think about ways to work smarter, so you can watch your car counts increase and your profits continue to grow.
Check out the rest of the November digital edition of Tire Review here.