Our friends at Fullbay have concocted a helpful article about marking up your parts.
Sure, everyone always has an idea of how to do that, but the article could be helpful to ensure you are getting everything out of your parts department that you can.
The article begins:
A wise man once said, “You have to be deliberate in your pricing.”
That wise man was actually Fullbay co-founder and CEO Jacob Findlay, as he explained parts pricing. His overall point was an excellent one: For your shop to stay in business, you need to make a profit. Therefore, you need to put some thought into how you price your parts.
It goes further than that, though. You need to be deliberate in all of your pricing, from the cheapest windshield wiper to the most expensive transmission, and everything in between. You need to be deliberate in how you price your labor and your canned jobs.
In short, there are a lot of factors that go into maximizing your revenue and helping your shop turn a profit.
Today, we’re going to talk about how a price matrix can help you do all of that and more.
To read the full article (for free), click onto the Fullbay website: https://www.fullbay.com/blog/why-a-price-matrix-is-just-good-business/