As inflation increases throughout the US, everyone is feeling the pressure of rising prices.
For most companies and service providers, this means being forced to reduce quality or increase prices just to make the same amount of money. Both of these solutions can annoy, outprice, or lose customers. However, bodyshops and collision repair shops are actually in a unique position to profit from tightening economic times if they have the skills and tools to capitalize on the opportunity.
The concept of Opportunity Cost is here to save the day for collision repair and bodyshops!
The concept is, in direct terms, that when the cost of getting a new item increases, the relative cost of maintaining or repairing the item they already have goes down significantly. This means that, when inflation, or tough economic times in general hit consumers, they buy less new vehicles, and put far more value on maintaining and fixing the vehicles they already have! So when things get tougher and money gets tighter, body and collision repair shops can actually expect an increasein customers, as repairing existing cars becomes a better deal than buying a new one after an accident.
But watch out,
this increase in customers can be a serious problem for bodyshops that are not prepared to handle them with their customer relations management, payment processing, inventory management, and shop efficiency tools. To best take advantage of inflation, and turn tough economic times into an opportunity for your shop, it is critical that your tools are up for the job. The right shop management tool ensures that any bodyshop is ready to face the increased demand for collision repair ahead, by offering a combined system of tools designed specifically for bodyshops, puts you and your team in the best position to turn the challenge of inflation into a major opportunity!
