Guest downsarf Posted September 2, 2008 Report Share Posted September 2, 2008 You need to track exactly which services are bringing in the most profit because once you know this information you can promote those services even more and increase your profits.I notice many on here focus on the profits from key cutting but if that same logic was apllied to other services then more could be earned from these areas too. I regularly drive past a shoe repairer come wannabe locksmith and his shops appearance never changes. All you can see from the road is the cliched dusty old shopping trolley and suitcases. Now if he was to clear the windows of this old tat and light up his key cutting areas no doubt he would make a lot more money from the keys and also his locksmith services. How much profit is there for selling a shopping trolley ? Surely cutting 3 mortice keys is more profitable with less cash tied up ? Its not surprising timpsons are so big, they may not do the small jobs etc but they know how to focus on what earns the money. Now they are in the locksmith industry im watching them apply the same techniques to dare i say it great effect.We may all dislike the nationals but there is lot to learn from them regarding business strategies etc. Link to comment Share on other sites More sharing options...
keithm Posted September 2, 2008 Report Share Posted September 2, 2008 I concur Link to comment Share on other sites More sharing options...
ironplanet uk900 Posted September 2, 2008 Author Report Share Posted September 2, 2008 I concur with him Link to comment Share on other sites More sharing options...
kobblers Posted September 2, 2008 Report Share Posted September 2, 2008 there's a lot of recurring concurring going on here Link to comment Share on other sites More sharing options...
keithm Posted September 2, 2008 Report Share Posted September 2, 2008 Aye, I arve been a shepard all me life boy Link to comment Share on other sites More sharing options...
Hugh-Candoit (ENG) Posted September 2, 2008 Report Share Posted September 2, 2008 there's a lot of recurring concurring going on here I like that Link to comment Share on other sites More sharing options...
Guest downsarf Posted September 3, 2008 Report Share Posted September 3, 2008 Are you all snifing the 6092 ? Nuts the lot of you Link to comment Share on other sites More sharing options...
ironplanet uk900 Posted September 3, 2008 Author Report Share Posted September 3, 2008 50/50 ME Link to comment Share on other sites More sharing options...
kobblers Posted September 3, 2008 Report Share Posted September 3, 2008 nowt but the best for me, renia rehagol Link to comment Share on other sites More sharing options...
Lee Posted September 3, 2008 Report Share Posted September 3, 2008 What a topic! 2 years 3 months old ( at this point!) off topic in a big way! Having gone through Price structures Engraving Economic slow down Displays Accounts software Glue And all with a lot of concurring in between! Lee Link to comment Share on other sites More sharing options...
keithm Posted September 3, 2008 Report Share Posted September 3, 2008 Lock it up I say, lock it up Link to comment Share on other sites More sharing options...
ironplanet uk900 Posted September 3, 2008 Author Report Share Posted September 3, 2008 No way, its been an ongoing thread for 2 1/2 years, It has a bit of everything and shows how passionate \:D/ we all are..........................carry on, as Jo would say Link to comment Share on other sites More sharing options...
kobblers Posted April 19, 2011 Report Share Posted April 19, 2011 This is still one of the best topics covered on here in my opinion and I'm glad I've just had a look at it as it's just reminded me to do my display cabinet this week Rick. Link to comment Share on other sites More sharing options...
Hugh-Candoit (ENG) Posted April 19, 2011 Report Share Posted April 19, 2011 Nice clean displays and Finishing Machines plus Band Scourers dont go hand in hand. Surprising how quickly a glass cabinet gets a layer of dust on the shelving. So very easy to open the shop and get stuck into the work (after the cup of coffee of course). Sometimes you see it getting gradually dustier day by day but never notice it until it requires a major clean up. By this time the customers will have already noticed it!!! Link to comment Share on other sites More sharing options...
hibsjo(SCO) Posted April 25, 2011 Report Share Posted April 25, 2011 Your tooo cheap 24 quid for a 20" zip i would be charging 50 quid minimum for that! charge what your worth not what your competitors worth! had a customer in on sat. motorcycle trousers the zip had gone i told him 25 quid and it would be done for today he said oh he was going to take it to a motorcycle shop to have it done by specialist? I told him i would be phoning said shop to find out there charges and would be charging accordingly they wanted 30 quid for it and it would take 2 weeks so ive put my prices up cant wait for him to come back! carry on! Link to comment Share on other sites More sharing options...
Hugh-Candoit (ENG) Posted April 25, 2011 Report Share Posted April 25, 2011 Gaz, no matter how low your prices there is always going to be the customer who complains that it's expencive. So, why not put your prices up to the same or just below your competitor and do the job quicker/better. At least then you will be getting better profit from the habititual moaner. If your prices are way below your competitor your customer may just be suspicious of your quality!!! good job=good price. If I had a competitior that sent shoes away it would tell me a number of things, 1. They cant do the job. 2. They cant be bothered to do the job. 3. They can justify the high price + postage because their sales technique is better. In all cases it is an opportunity for you to improve. Link to comment Share on other sites More sharing options...
theshoeman9 Posted April 25, 2011 Report Share Posted April 25, 2011 This is an interesting debate ! I opened a shop within 500 yds of 2 timpson shops 18 months ago.It was a gamble but i was confidant i could take enough trade from them to make a good living,as i'd heard reports they were not great & as i had 23 yrs experience I thought i'd give it a go.It started slow,but month on month it has got better & better,Just on repairs mainly.I just found out this week that one of the Timpson shops is closing.Whether thats down to me opening i don't know ! Since ive been there i havn't needed to advertise.All my customers are from word of mouth & i am now getting between 100 & 200 pairs of shoes in a week & still growing. Keys are slow even though i am cheaper but i do plan to advertise.Quite how & where i'm not sure,as i've had mixed reports about local press etc.I think people bring in their shoes & don't notice 2000 key blanks hanging up in front of them ! I have found out rivals prices with repairs & i know i'm cheaper & better than them & offer alot better quality & will also do work they wouldn't even dream of doing.Anyway......i know i'm worth more & contimplate daily putting up my prices(which are in line with the national average).But i still don't because i worry about losing customers .....WHY ? because i am so used to charging a certain price that when a regular customer comes in I feel embarrassed to put the price up because i might frighten them off.Maybe when you have competition in the same town you think very carefully about it in case customers jump ship(especially when competition is on the high street).If i was the only repairer in town i wouldn't think twice ! It's a very tricky debate which i completely understand both sides & still in a dilemna myself ! ! ! ! ! ! ! ! Link to comment Share on other sites More sharing options...
kobblers Posted April 26, 2011 Report Share Posted April 26, 2011 Shoeman. Have you not considered putting a notice up in advance explaining that your prices are set to go up? This usually works well as the customer is forewarned. If you want to improve key sales why not do what k4mrc does on here and use the local press for free advertising, maybe by having a competition around keys - open the box or summat like that. Rick. Link to comment Share on other sites More sharing options...
autolock Posted April 26, 2011 Report Share Posted April 26, 2011 Shoeman i started out in shoe repair trade then went into locksmithing ,23 years on and i still have problems knowing what to charge.i can do a job for £150 and customer will tell me they were expecting it to be a lot more and the next one moans like hell when theyve been charged £10 and if a customer moaned about a price when i had my shop ide worry about it all bloody day then Link to comment Share on other sites More sharing options...
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