Need to boost sales of your repair store? Although running a repair store requires tremendous patience and focus, with these few adjustments, you might be able to fix errors quickly and increase productivity. Here are five strategies that might help you improve your bottom line while cutting costs and raising profits.
1. Manage your finances with discipline
If you don’t manage your money with discipline, no number of tricks or advice will boost your profits. If you spend all that extra money right away, getting more customers and raising profit margins won’t matter. Follow these guidelines to boost your repair shop’s profits:
- Reduce overheads:
It never hurts to review your spending and eliminate additional expenses that aren’t helping your business succeed. For example, switching to reasonable spare parts or buying a good stock once for a better price help you save your money.
- Be sure to save dollars:
Small businesses have faced difficulties over the past 20 years, from the 2008 financial crisis to the Covid-19 outbreak. We’ve all realized how important it is to seize the moment and make hay! Additionally, setting aside money each month is a long-term, risk-free strategy that will prepare you in the event of a calamity.
- Be more patient:
Profit growth is a long-term endeavor that calls for patience and self-control. It might be alluring to purchase that brand-new TV for the store or more ostentatious clothes for the technicians. Be 100% sure to have adequate funds available before making such investments.
- Make smart inventory decisions:
By having the statistics on your repair type sales helps you make informed decisions regarding the inventory purchase. A well-built repair POS software provides all the sales and purchase history for your convenience and savings.
2. Offer Online Appointments
To keep your business profitable, you must optimize your store’s working hours for the best results. If no customers are inside the store, and your technicians are sitting idle, you are losing money on per-hour wages and electricity bills.
By offering online appointments for repairs, you will know at what time you have customers influx, and you can arrange technicians accordingly. CellSmart POS repair software provides an online appointment feature in our repair POS module to keep your business running smoothly.
3. Charge diagnostics fees
A lot of customers are not sure about their device issues. And they often want to make sure of the device issue at first.
Your store must offer a diagnosis before the actual repair. But these diagnoses should be charged. Because if that customer doesn’t agree to get the repair done right away, you lose money as your technician’s time will be utilized for these diagnostics. Make sure you have a repair POS software that enables you to charge diagnostics fees.
5. Spend money on current customers (and Employees)
Gaining new customers is more expensive than retaining the old ones. Therefore, you need a good balance of both new and returning customers to boost the earnings of your repair shop by concentrating your advertising on repeat customers.
Your existing customers are one of the best resources for finding new ones! Encourage your current customers with a referral/loyalty program that rewards them to refer your store to their friends and family members. And in return, they enjoy a discount on their next repair at your shop.
Last but not least, happy customers will be the direct result of motivated employees. Invest in products, equipment, and trainings to make your technicians more productive and to enhance their working environment.