Letâ€™s not beat about the bush: 2013 isnâ€™t going to be easy for many retailers. Deferred spending will continue as consumer confidence remains weak, and resources will be scarcer than ever.
But ask yourself this: why is there such a polarity of performance in the motor trade? The highest-performers continue to grow profits, while half the industry will post losses for 2012.
Meanwhile the industry average ROS remains depressingly close to one per cent â€“ a return that for many will be unsustainable in 2013.
At Coachworks Consulting we have a proud track record of transforming performance for retailers by addressing cultures, leadership and processes. We know that business-changing growth is achievable whatever the economic climate â€“ just ask our clients.
As the new year gets underway, we want to share our top 10 tips for 2013 across the Three Ps: Presentation, People and Processes. If this advice is implemented effectively, it will deliver growth regardless of a retailerâ€™s current financial position. (more…)
With a client base that grows bigger each year, weâ€™re using social media even more in 2013 as one way of staying in touch with clients, friends and associates.Â Get â€śsocialâ€ť with us this year and you could be celebrating your next success by savouring a bottle of Bollinger Champagne with our compliments!
Just â€ślike usâ€ť on facebook www.facebook.com/CoachworksConsulting or â€śfollow usâ€ť on Twitter @coachworksuk and your name goes in the hat at the end of the month; do both, and you double your chance of winning the Champagne.Â A potential â€śno brainerâ€ť return on investment!
And, in addition to sharing news, views and advice from our years of experience, youâ€™ll be grouped with some of the best known and most senior names in the business, from both manufacturer and retailer environments.Â Get social with Coachworks and who knows what it could lead to?
Vauxhall franchise Vision is in line for significant revenue growth after bringing in Coachworks Consulting.
The Stafford-based outfit has ambitious expansion plans â€“ and it has paved the way for a successful 2013 with a trio of Coachworks support.
In Quarter 3 of 2012, Coachworks identified up to ÂŁ100,000 of untapped revenue opportunities across sales and service during a Growth Appraisal at Vision.
The appraisal also led to the introduction of new practices into the car sales department â€“ including innovative ways of addressing slow selling stock and incentivising people according to business priorities. (more…)
Simon Parker, Associate Consultant to Coachworks and Managing Director of Motor Trade Consulting, has developed a concept entitled the Hierarchy of Financial Needs.
â€śThe Hierarchy of Financial Needs was developed to assist dealers without a financial background to understand the levels of profit they need in order to meet their aspirations for the business,” said Parker.
â€śMost people in the industry use Return on Sales or Profit to gauge how well a business is performing. Whilst this is one measure, it is not the one which determines whether you can fulfil your goals. This is down to cash generation, and the level of cash required is different for every business.â€ť
The key to making the hierarchy work is keeping it simple. (more…)