During his seminar at the Specialty Equipment Market Association/International Tire Expo in Las Vegas, tire industry consultant Norman Gaither provided tire dealers with some advice-from a source he did not identify-on what helps make a business hum along profitably.
However, increasing gross profit in today's competitive marketplace is tough, admitted Mr. Gaither, a former industry veteran who now heads Virginia Beach, Va.-based Norman Gaither & Associates.
The following are some salient points he told dealers:
* In order to be successful, we must sell our goods at a profit and still satisfy customers.
* If we satisfy the customer but fail to get the profit, we will soon be out of business.
* If we get the profit but fail to satisfy the customer, we will soon be out of customers.
* The secret of doing both lies in one word: SERVICE. Service means doing something so valuable for the customer that he or she is glad to pay a price that allows us to make a profit.