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Measuring payroll against gross profit is critical, but cutting payroll or reducing head count aren't the only ways to bolster the bottom line. The best practice is to involve the whole store in making improvements.

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TIA Sets 7 Educational Sessions for 2016 SEMA Show

The Tire Industry Association (TIA) has announced seven educational sessions for the Global Tire Expo – Powered by TIA at the Specialty Equipment Market Association (SEMA) Show, which runs Nov. 1 through Nov. 4, 2016, at the Las Vegas Convention Center.

Financial Analysis 101

Tire and service shop owners are busy folks. And, even if they had the time, our industry is not known for having dealers take the time to review their monthly financial statements on a regular basis. I believe this holds dealers back from achieving their true potential of “improving their bottom line profits.”

Is profitability a bad word?

The words were informative and impactful. Unfortunately, they were interpreted negatively by the tire dealers in attendance. As a result, they sent the wrong message.

Budgeting for success

Hard to believe it’s fall already and time to think about your 2012 business budget. Or are you one of those tire dealers who doesn’t do budgets? Sadly, there are many dealers like that.