Last week we shared and discussed one of two different types of Rental Utilization KPIs, Financial Utilization. This time we are going to discuss Time Utilization. By the end of this article you will not only know how to calculate both Rental Utilization KPIs but also how to use them in conjunction to make better… Read more »
If you’re in the equipment rental business, you know business is on the upswing. Industry revenues in the US are growing three times faster than the general economy over the past few years according to the American Rental Association (ARA). This kind of market opportunity also comes with increased competition. That’s why smart business owners… Read more »
Making your dealership parts department more profitable is one of a dealership’s top challenges. Using a reliable dealership management system such as Charter Software’s ASPEN can greatly assist you in achieving your parts department’s maximum potential. The dealership parts department is a major part of your dealership’s “bottom line” profitability, so to ensure total support… Read more »
With the right strategies in place, your customers can actually do the selling for you over time. From getting the brand’s name out there more to interviews of current and former customers, there are lots of ways to turn clients into helpful partners.
The Rural Lifestyle Dealer publishes the recipients of their Dealership of the Year award along with some tips and tricks from the winners. Alongside the business fundamentals we’re used to discussing (continuing education, striving for constant improvement) their advice had a common thread; the keys to their collective success were all based on the functionality… Read more »
Charter Software has always had an open book policy. And with a business system like ASPEN, you can easily make your financials visible to key employees or, if you’d prefer, all employees. According to Forbes, companies who use this rule often see a 30% increase in both efficiency and profits in the first year alone…. Read more »
Employees are the lifeblood of your business and according to Gatehouse, 46% of all businesses surveyed were committed to dedicating the better part of this year to enhancing leadership communication and another 38% were interested in supporting internal change. If you’re one of these companies, consider adding one or more of these ideas to inspire… Read more »
Mergers, acquisitions, and an additional location. All of these factors come together to form a potentially chaotic situation. Although well intentioned, many business owners let profits slip through the cracks during this tumultuous time.
The new Microsoft update is a lot more time-sensitive and critical for your business than you may think. Even if your dealer management system software seems to be working well now, neglecting this latest upgrade could have dire consequences for your programs in the future. Here’s why that is and what you stand to gain… Read more »
Bob Clements spoke at the Joint Annual Meeting in Charleston a few weeks ago. He talked about the three keys to a high performing dealership/distributorship: well-defined processes, a plan for growth, and high capacity employees. In my last two articles, I discussed how using technology in well-defined processes and a risk-attentive growth plan has a positive impact on your business. Let’s talk… Read more »