According to a recent study by IMR Automotive Research, this high cost of tools required to service newer vehicles is the most significant threat to all but the largest independent shops. Unfortunately, there’s not much shops can do to magically make these products cheaper, aside from purchasing well-maintained used equipment. There are several things that shops can do to ensure that these parts are getting a solid return.
Build a Plan of Return – Before you buy a piece of equipment that will allow your shop to perform a new service, put together a plan of how many times you expect for that service to show up on an invoice, how much you’re going to charge, and how you’re going to get that business. If any of your equipment falls well short of expectations, sell it to help finance equipment that will provide better returns.
Focus on High-Margin Customers – High-end equipment is hard to afford if you’re providing low-margin service. If your customers trust your shop and care about their vehicles, high-end equipment is much easier to justify. Take a look at our infographic on how to retain your shop’s high-profit customers to learn more about how to keep the customers that will agree to these new services.
Keep Your Customers Longer – In many cases, customers will visit a shop several times with smaller jobs such as oil changes, brake replacements and new tires before they invest in a major job or a maintenance plan. Because of this, building a long-term customer base is important to increase the use of your higher-end equipment. Our infographic on turning price shoppers into repeat business will help you convert these first-time oil change customers into lifetime customers!
To learn more about how Repair Shop Websites can help your shop gain more business, call us at 866.665.1605 or email us at Team_RSW@RepairShopWebsites.com