With Holiday Downtime, Be Sure Your Customers Have Emergency Contact Information
If you’re going to be closed for the holidays, or any part of the holiday season, make sure that your customers know about it, and make sure that your after-hours phone message clearly states when you’re going to be closed and who to contact if your customers need any emergency service or repairs.
How Much Is Your Business Worth?
If you speak with most shop owners, they’ll tell you that they think their shop is worth “X” amount of money. Ask them how they came up with that number, and they’ll tell you it’s based on what they heard another shop sold for, or it’s predicated on their annual sales.
Six Tips To Increase Sales This Winter
Many shops in the northern part of the country go through a slow sales period during the winter months. And, while there is no way to get back those snow days when business literally shuts down, here are a few tips we can use to maximize sales this winter.
Creating Lasting Customer Loyalty Means Separating Your Shop From The Pack
With visits to repair shops on the decline, building customer loyalty is more important than ever. Developing a large and stable database of regular customers can help eliminate the constant need to acquire new customers. Your loyal customers can also serve as a great referral source for your shop. According to the research firm The Gartner Group, 20% of a business’ existing customers generate 80% of that business’ profits.
Executive Q&A, Part 1: Art Blumenthal MBA, CBI Nationwide Automotive Aftermarket Business Broker
In the first of a two-part series, we delve deep into the process of selling a business by interviewing Art Blumenthal, nationwide automotive aftermarket business broker, who provides business valuations, exit planning, and buying and selling advisor services.
Identifying Your Target Customer Helps Maximize Your Marketing Dollars
Ever notice how in upscale neighborhoods, even the fast food restaurants are nicer? Instead of a bright red roof and the famous golden arches, the McDonald’s in ritzy Aspen, CO, for example, boasts a second-floor fireplace and is housed in a sedate red brick building that blends in seamlessly with the surrounding architecture. The fancier digs reflect McDonald’s understanding that its target market in Aspen is far different than its target market in Akron, OH. The same idea holds true in the automotive repair world, but, unfortunately, too many shop owners fail to realistically identify their ideal market or customer.
Selling A Multi-Site Auto Service Enterprise: Utilizing The Services Of A Broker
Just a few short decades ago, when Terry Flaherty was in his early 30s, he set a goal to retire at age 55. “I also set targets for what I wanted to make and my net worth at that age. So when I had been in the auto service business for 35 years as the business got tougher and tougher all the time, for me it was the right time to exit.”
The Six Rules Of Maximizing Customer Retention
We all know that there are many things you can do when it comes to customer retention. The list includes follow-up calls, sending out service reminder notices, ongoing advertising campaigns that keep your name at the top of the customer’s mind and scheduling the next visit at the time of car delivery, to name a few.
If You Haven’t Seen That Long-Time Customer For A While, Don’t Send A Service Reminder!
If you haven’t heard from a customer for a longer than usual period of time, pick up the phone and give them a call! Years ago I developed a really easy way to start the conversation without sounding awkward or as though we were just looking for additional sales.
Publicity: Sometimes Better Than Advertising
I am a believer in “guerrilla marketing,” which is a strategy that allows us to compete with the big guys, without going head to head with them. Most of us cannot compete on the same level as a large dealership or national account, and we shouldn’t. It’s actually more important to find out what the competition is doing and do the opposite.
5 Tips On Handling Price Shoppers
In order for people to buy from you, three things need to occur: they need to like you, trust you and view you as a credible expert. Accordingly, the first thing you need to sell to any caller is you; not your shop, or any repair. The best way to accomplish this goal is by smiling, answering the phone with a salutation, providing the caller with your name and the name of your company, and then ending with a question that invites a response.
Case Study: Buying And Selling An Auto Service Business – A Look At The Perspectives Of Both Buyer And Seller
I’ve found that every new listing is like a fresh new project. Although the perfect outcome is always a Win:Win situation for both buyer and seller, the backgrounds and experiences of the people involved and the steps to getting there are always different. For example, although many business sales involve a retiring, older owner selling to a younger buyer, here’s one that was just the opposite.
