Brand loyalty, which among auto owners is very great, is very weak in the tire field. Only 30% of the respondents bought the same make of tires they owned last.” Those statements are very telling, and clearly emphasize just how influential tire dealers are.
I’ve always enjoyed watching infomercials on television. It doesn’t matter what the product is, I enjoy watching how the salesperson makes me think it will solve every problem in the universe, and I must order it today.
”Hey, Bobby, there’s a job opening over here at Modern Tire Dealer. You should apply.” With that phone call in March of 1985, former MTD Senior Editor Jim Smith changed my life. I did apply for the job of assistant editor, got it, and began working before the month was over.
Every year, you have a chance to be fair to your customers, your employees, and yourself. Earning 10% net profit year-over-year is your fair share, and it’s your retirement. The "industry norm" of 2% to 3% net profits will not be enough.
Sophisticated buyers want to know everything about your business before acquiring it so they can be responsible to their shareholders and investors, as well as plan for an effective integration after the sale closes.