Note: This article is excerpted from our free e-book, “Strategies for Success.” To get the complete e-book, which includes more detailed information and tips for succeeding in the tire business, download the e-book here.
The tire business is getting tougher. For retailers, as well as distributors.
All the problems retailers face – lower margins, higher overhead costs, increased competition – also affect distributors. But smart retailers can turn those challenges into opportunities, increasing revenue and profits.
And distributors can play an important role in helping retailers leverage those opportunities, and in the process share in the in the rewards.
It starts by understanding how the tire business has changed. Traditionally, tire retailers have been family businesses started because they loved working on cars. And they were good at it. They didn’t need to be savvy businesspeople.
But times have changed. Consolidation and the maturity of the industry is making it necessary for tire retailers to be smart, and that includes understanding the importance of brands and what they mean to consumers.
The more consumers understand the attributes and promises of tire brands, the more confident they are in their purchases. Retailers’ responsibilities are to convey that brand message to consumers.
As distributors, you can help your retailers do that successfully.
Partner with Retailers
As in many things, the key is communication.
By staying in contact with your retailers, and especially their sales associates, you can help them to be more knowledgeable about tires, brands, and warranties. That will ensure they carry that message forward to consumers.
To read the rest of this article, and get other strategies for success in the tire business, download the free e-book, “Strategies for Success.” Also, be sure to check out our How to Succeed in the Tire Industry: Distributor Edition infographic.