The Importance of Monitoring Your Shop’s Competition
Competition continues to heat up in this industry. New car dealer operations continue to close, franchise operations are consolidating, and sadly some independent shops are going away. What can you do?
I’ve worked with a few very bright shop owners who do a great job of keeping their fingers on the pulse of the industry. Several times per year they will perform a competitive price survey to know where the competition stands on their competitively priced items. They will call dozens of shops around their stores and shop them on items such as tires, brake work, fluid flushes, oil changes, vehicle inspections, wiper blade replacement, tire rotation, A/C service, etc. In essence, any service that their customers can easily shop through many advertising methods.
They then form strategic plans for the year for their shops to effectively compete in their marketplaces. This gives them a competitive advantage knowing the price points of their competition’s services, and that helps their businesses to continue to attract new customers and retain loyalty with current customers. To survive in today’s business climate you must stay in touch with your competition, and if you follow the example of these bright minds, you can take your business right to the top!
This article was brought to you by Jim Murphy. Jim is the leader of Elite’s prestigious Pro Service, a 20 group-like community comprised of 90 of the top shop owners in North America.
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