Hammermechanicman
Lawn Addict
- Joined
- Jan 10, 2020
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The small shops struggle while the 2 JD/Stihl dealers near me are right now are booked for service 6 to 8 weeks and both are looking for techs.
We are drifting off topic again but that is probably more to do with the small shops than the JD dealers .The small shops struggle while the 2 JD/Stihl dealers near me are right now are booked for service 6 to 8 weeks and both are looking for techs.
How many people work in your shop? And sounds like a management nightmare to me, but my management skills are right at 0 (zero).
And you have to watch the fast moving inventory sometimes because it can go from fast moving to non moving in one season.It kinda strange about the SBA and bank loans. They won't loan to you; unless, you don't need money or at least was my case. Couldn't get a business when I first started or could get purchase loan for my home. Now I am constantly asked to borrow money which I refuse. The bank that refused my home loan keep sending letters saying they could reduce my mortgage payments so I went in. They couldn't lower it any at all. They would had to pay me since I paid the place off in less than 6 months. (with cash) The bank loan office jaw hit the floor when they found that paid the place off in less than six months. Yes it was rough to part with 75K as I needed it for the business but I survived that event.
And yes I don't advertise like some shops as mine is customer referrals. I feel it is the best advertisement of the quality of my workmanship. Without loans it is a change to make things work especially on large deals. I do currently have Visa card with a self imposed 2K limit which had upped 5 yrs ago from the self imposed 1K limit. Now that CU is merging with another (which I think is mistake as its profitability is lower) I will be switch to MasterCard. And I understand the CC is signature load that must be paid off every month. Matter of fact with the limit I make several payments every month.
The main thing with any business you got to keep up with all the changes and don't over inventory on items that are slow mover or that has become become non-movers. For manufactures they got keep up with the ever changing customer needs or wants. If you don't you go out of business by having excessive inventory on hand that you can't move.
Having currently 57K in inventory is a little excessive for my operation but it does give a chance to build up orders that have free shipping now. And like any I have make mistakes in buying inventory as some items are still there after 5 years.
Now with Briggs I don't know what went on that lead to them filing Charter 11 but I suspect it was poor management and not keeping with all of the market changes.
One reason i keep very little inventory on hand. Essentially seasonal maint and carb stuff. Fuel line, starter cord and the like. I don't stock belts and blades, just too many to keep up with.And you have to watch the fast moving inventory sometimes because it can go from fast moving to non moving in one season.