THE SHOP

July '16

Issue link: https://read.uberflip.com/i/688875

Contents of this Issue

Navigation

Page 56 of 119

JULY 2016 THE SHOP 53 RESTYLING/AFTERMARKET ACCESSORIES • Are our inventory levels adequate? Are they too low, costing us more money buying single items and paying for high shipping costs? Or too high, tying up valuable cash flow? • Will our supplier do an "inventory exchange" for newer, faster-moving parts? • Are we sitting on old inventory or dam- aged inventory that could be liquidated at a lower cost? Many times business owners look at an old product sitting on the shelf and think, "I know this box has value and one day a customer is going to need it and I will get close to full price when that happens." The fact is that may never happen and if you have a lot of those "boxes" laying around, then you may be out of business before that customer ever shows up. Try to look at them as boxes of cash sitting there on the shelf. Now there may not be as much cash in them as before, but there is still real cash sitting there. Aggressively try to move that box and turn it into whatever cash you can get— even if it means taking a much lower amount than what it was once worth. That cash will help you pay for expenses and run your business. It will also unclutter much-needed space and send a message to your employees that you are not an antique collector of some kind. More than likely you will find other things surrounding your old inventory. "Where did that come from?" you may wonder. Well what you don't realize is that you have accidentally created a culture where your employees just decide to stick old or used parts in the corner or under a table or next to the really old stuff that has been laying around in your shop. Stop the madness! Clean up, make a list, blow it out and you will run a leaner, meaner successful and, more importantly, a profitable business! JOSH POULSON is the principal of Auto Additions in Columbus, Ohio, which was named Restyler of the Year, 2012- 2013. Auto Additions offers a complete line of product upgrades, including 12-volt and appearance packages with a specific focus on the dealership segment. Josh currently serves on the SEMA PRO council and was named 2015-2016 "Person of the Year" at the 2015 SEMA Show. REFUELING TANKS REPLACEMENT FUEL TANKS IN-BED AUXILIARY FUEL TANKS With over 30 years of engineering and manufactur- ing fuel tank systems, some of the best and biggest companies trust Transfer Flow to help fuel their success. We can do the same for your company! We offer a complete line of fuel tank systems for you and your customers: refueling tanks, larger replacement tanks, and in-bed auxiliary tanks. Transfer Flow fuel tanks are CARB and DOT legal, come with all parts to install, and include our 24/7 customer tech support. Start fueling your profi ts by selling and installing Transfer Flow fuel tank systems. Contact us today! Fuel Your Profi ts With Transfer Flow Fuel Tanks! 1-800-826-5776 www.transferfl ow.com info@transferfl ow.com REFUELING TANKS REPLACEMENT FUEL TANKS IN-BED AUXILIARY FUEL TANKS IN-BED AUXILIARY FUEL TANKS With over 30 years of engineering and manufactur- With over 30 years of engineering and manufactur- With over 30 years of engineering and manufactur- ing fuel tank systems, some of the best and biggest ing fuel tank systems, some of the best and biggest ing fuel tank systems, some of the best and biggest companies trust Transfer Flow to help fuel their companies trust Transfer Flow to help fuel their companies trust Transfer Flow to help fuel their success. We can do the same for your company! We can do the same for your company! We can do the same for your company! We offer a complete line of fuel tank systems for you and your customers: refueling tanks, larger for you and your customers: refueling tanks, larger replacement tanks, and in-bed auxiliary tanks. Transfer Flow fuel tanks are CARB and DOT legal, come with all parts to install, and include our 24/7 customer tech support. Start fueling your profi ts by selling and installing Transfer Flow fuel tank systems. Contact us today! Fuel Your Profi ts With Transfer Flow Fuel Tanks! Transfer Flow Fuel Tanks! Fuel Your Profi ts With Transfer Flow Fuel Tanks! Fuel Your Profi ts With 1-800-826-5776 www.transferfl ow.com info@transferfl ow.com

Articles in this issue

Links on this page

view archives of THE SHOP - July '16