Outdoor Power Equipment

July 2017

Proudly serving the industry for which it was named for more than 50 years, Outdoor Power Equipment provides dealers who sell and service outdoor power equipment with valuable information to succeed in a competitive market.

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Page 25 of 51

26 JULY 2017 OUTDOOR POWER EQUIPMENT www.outdoorpowerequipment.com FEATURE STORY | Best Practices â–  BY JEFF SHEETS I f you're a typical OPE dealership owner, you likely have the confi dence, intelligence and ambition to implement and execute your plans. All of those skills are essential, but one more may be even more essential. The problem is, this one critical skill often gets the least attention. So what is this all- important skill? Having a total understanding of the numbers that make your business a success! Business owners are generally focused and driven people. They're focused on the next sale or the next business decision, yet when asked what last month's revenues were, or what their expenses are versus what was planned, they may only have a foggy idea at best. Even though the financial numbers are the tools that help you see whether you are winning or need to make adjustments, sometimes you may neglect them at your own peril. I'll break this down by three areas: service, parts and wholegoods. #1 Service Department Technician effi ciency is at the top of the list. Your technicians should be billing as close to 100 percent of their time as possible. I would consider 50 percent or less a failing grade. Wait time for equipment should be less than 2 weeks all year long. Anything more than that would be below average. Three weeks or more would be an "F" for sure. You must remember that the longer you take to repair a mower, the longer your customers' grass grows before they The Numbers Tell the Story Are you winning, losing or just surviving? IMAGE @ISTOCKPHOTO.COM/MAYBEFALSE

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