While revenue at this 4-bay facility was growing steady at 5%, net profit was down over the past three years. Profit margins were declining and well below industry average.
To continue to grow sales while improving profit margins and net profit
- Developed a unique selling proposition and guarantee based on company’s strengths and modified our advertising to reflect the change.
- Increased prices of certain services based on value and competition.
- Documented service delivery process and integrated checklists to ensure a consistent buying experience for all customers. We also provided a 30 point checklist to the customer when they picked up their cars.
- Added special touches like Hershey Kisses to WOW customers and add value.
- Modified and consistently used a reminder system to reinforce our full range of services and generate more repeat business.
Within 5 months, average customer transactions grew from $274 to $328, a 16% improvement. At the same time, gross profit margins increased from 21% to 37% and net profit increased 14%.
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To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com