It probably goes without saying that motor trade businesses can make more money by serving more customers – but there is another way to increase your profit margins, and it’s sometimes an easier one to implement than a large scale marketing effort designed to grow your customer base.
Here’s how you can improve your business’s bottom line by cutting costs and reducing overheads.
Shop Around for Motor Trade Insurance
If you own or run a motor trade business you’re almost certainly going to need motor trade insurance, but that doesn’t mean you should automatically renew your policy with the same insurance provider year after year.
Price comparison websites like Quotezone.co.uk are able to help you compare quotes from a range of different motor trade insurance providers in just a few minutes, making it more likely that you’ll find a suitable policy at a cheaper price.
Find Cheaper Prices for Parts
One of the other ways that you can cut costs in your motor trade business, particularly if you own a mechanic’s garage or automotive repair shop, is to make an effort to shop around, compare and haggle for cheaper prices when looking for parts to fix cars.
There are a lot of different companies that can provide car parts, and many of them now have huge ecommerce sites that you can search for the exact parts you’re looking for, which means you should be able to find cheaper prices if you put in the effort and shop around.
If the sites are all quoting similar prices it’s sometimes worth phoning the supplier up and asking for a better deal, because haggling just might help you cut your costs a little more.
Use Energy-efficient Lighting
Another way that you can save money in your automotive business is to make sure that you use energy-efficient lighting, which can help to reduce your electricity bills.
Energy-efficient lighting produces the same amount of light but uses less energy, which also means fewer greenhouse gasses will be produced. While energy efficient bulbs often cost a little more, it’s a worthwhile investment because they tend to last a lot longer than regular bulbs while simultaneously reducing your utility bills.
The next way that you can save money in your automotive business is to consider investing in energy-efficient appliances wherever possible. Although these appliances do cost more than regular appliances, they can help your business make significant cost savings on its energy bills.