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16 Apr

Strategy and Tactics: Five Steps to Increase Profitability

Words by Jason Kranitz

April 16, 2018 -- When it comes to communicating with the customer, selling products and charging properly for labor, some businesses may struggle. Jason Kranitz of Kingpin University offers five steps that shop owners can implement today to help increase revenue.

The American dream is to work hard, make money, and have fun doing it. Your 12-volt business can make all those dreams come true, but you need to know how to build a profitable ticket in order to succeed. With my experience training at other shops, at KnowledgeFest, and at my in-house classes at Kingpin University, we have developed some techniques that will add dollars to your bottom line.

1.Talking time instead of dollars

By now, we’ve all heard we must start billing out by time instead of guessing a dollar amount. But do you truly understand why? Your client understands time and can justify a cost easier when associating it with a dollar amount. On Saturday morning you don’t get ready to go to the local hardware store to pick up some supplies and tell your spouse, “I’m headed to the hardware store and will be back in $125.00.” We don’t talk that way. It makes no sense, but we do it in our stores! Stop. Yes, you can have a few items in the store that are priced flat rate. But you need to analyze it and make sure—using the laws of averages—that the task can be completed in the flat-rate time by the average tech. Not your senior guy or the quick guy in the bay, but the average tech!

2. Labor is 100 percent profit

Crack is illegal and this statement should be, too. This is an... [Click Here] to read the rest of the feature.

Last modified on Friday, 18 May 2018 06:47
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