Signs are an integral part of your shop and probably don’t get the respect or attention they deserve. As your silent sales team, they should impart key information to your customers, such as cost, color, purpose, and potential savings…
You’ve heard the saying, “If you don’t plan to succeed, you plan to fail.” A business plan is the journey to success. It’s also a strategy for making a profit because if you don’t plan for profit, you probably won’t achieve any. Plan for your (continued) success today and you’ll be better prepared to face the challenges of tomorrow.
When do you make money? You might be increasing your sales every year, but if you aren’t monitoring your COGS and labor, you could be at “break even” or actually losing money. Think of your shop’s profitability as a three-tiered fountain and water are the money coming into your business. Your goal is to have enough to fill every tier.
Your goal should be profit, not volume. Whatever your position in the local marketplace, you want to compete on value, not price. Adding value to your product is the smarter way to go; free gift with purchase, two-for-one on selected items, and promotional discounts are all healthy ways to discount. I think it’s better to follow Toyota instead of GM in this scenario.