Gear Up Your tire Business
Facebook Twitter Pinterest Google + LinkedIn RSS YouTube
513-699-5196

Subscribe to our Mailing List

Let’s Reflect & Forecast

Let’s Reflect & Forecast

Written by: Colleen Frye

With a New Year, comes reflection (we’re not really into resolutions!)! Tire Business took some time to interview several tire dealers like you to see how their business did in 2016 and what they expect in 2017.

Though many owners saw as much as a 6% increase, others saw a 3% increase. Then there were the dealers that had a ‘flat year’ and found the market to be especially tough because of pricing competitiveness.

With business success being all across the board in 2016, it’s important that we address what worked in the past & what we can improve upon. Let’s take a look at some opportunities to take a hold of in 2017.

Economic Factors

Most dealers interviewed said they are not expecting economic factors to affect their business negatively in 2017. If anything it will be a positive. One owner goes on to say that they believe that Donald Trump’s presidency could lead to a strong year for the industry!

Technology

Many dealers found it crucial to be able to communicate to their customers by way of video & social media.

One dealer uses Bolt-On Technology tablet system to share photos of the customer’s inspection directly to them via text or email. This allows them to better communicate the repairs.

What’s Trending?

  • The changes in tire sizes and rim sizes on newer car models are posing a problem to some dealers – it’s making it more difficult to have the right tire at the right time for customers.
  • Accessories for your vehicle are becoming more and more popular.
  • Seeing an increase in TMPS faults & failures – which can be credited to consumers keeping their vehicles for longer.

Tire Business Reader Poll (as of 1/17)

Both sales & revenue are up – 32%

Both sales and revenue are down – 23%

Both sales and revenue are flat – 19%

How do you plan to make 2017 a better year than the last? Let us know!

Comments are closed.