People working in the appliance repair industry have to be keen in scrutinizing and finding solutions to do their jobs well. These skills, when applied to business operations, are lucrative ways to improve overall profitability. Aside from stepping up your team in the field to use technology, there are also 6 ways to grow the margins of your appliance repair company:
Assess Initial Resolution Rates
Numerous trips to get a job completed decreases your profitability. Here are some ways on how to reduce having back jobs:
- Build a Good Database. Ensure that you have a good system to store all the necessary information when scheduling a job. These include (but not limited to) the make and model of the appliance to be repaired, what’s the reason for repair and any past issues with the appliance.
- Assess how your technicians prepare everything in their trucks before leaving for a job. If your technicians have a good idea on what they will be repairing then most likely they will have a better chance of preparing the right equipment to bring with them.
- Evaluate first-time completion rates. This is a good way to identify which areas your technicians might need additional training.
Examine your Warranty Contracts
Carefully examine how much repair parts usually cost, labor costs, transportation costs (truck repair and fuel) and any other maintenance costs. By taking a closer look at these costs, you will be able to identify which parts of the contract are not necessary at all.
Regulate and Analyze How Your Technicians Apply Pricing in the Field
Make sure your technicians are pricing the job correctly to prevent profit losses. See to it that they are calibrated with the methodology of repairs to ensure accurate pricing.
Properly Manage Unused Parts
Make sure you have a good tracking system of unused parts. Return them to the supplier if not needed or keep it ready for the next job. In doing so, you decrease the costs of repair parts.
Plan Out Your Routes to Save Transportation Costs
Planning out a more optimized route when doing multiple jobs can help you save labor costs, fuel costs and vehicle wear and tear. Trying to reduce travel distance between jobs and decreasing the amount of labor time are effective ways to maximize profitability.
Schedule a Regular Maintenance Check on Your Trucks
Preventive Maintenance Service can make vehicles last longer and work more efficiently. Oil change, tire replacements and other maintenance checks are necessary to avoid sudden vehicle damages / costs.
Making your business profitable takes time and a lot of good business decisions. Reviewing these steps is a good way to start maximizing your profitability. However, offering quality repair service is still the best way to get loyal and more customers which in turn, is the surest way to earn bigger margins.