How a tailored tyre policy could inflate profits

Ensuring strong availability of tyres – and maintaining a good level of expertise – can drive your business forward like few other aftermarket essentials. It goes without saying that tyres are the bread and butter of any successful operation, but there’s much more potential than meets the eye.

A close working relationship with a leading wholesaler can be worth its weight in gold, as they can provide same-day access to a number of brands, with significant profit opportunities thereafter.

Some wholesalers are enjoying a buoyant start to 2024, thanks to investment and closer working relationships with retailers. The sales director at one business said: “Sales have been extremely positive during quarter one and we have generated a great deal of momentum, which we’re excited about. We’ve developed a brand policy that has incorporated an exclusive new range of tyres and we’re synonymous with quality products and a quality service.”

There is typically a four-tiered tyre proposition for customers, with the super-budget, value, mid-range and premium ranges all catered for. In addition, sell-out promotions prove popular, leading to plenty of opportunities to help retailers drive up sales.

Instant availability is a game-changer

Any wholesaler worth their salt covering a wide area of the country will agree to a ‘rapid response’ on-demand service in selected areas. Availability is always a critical issue across the industry but same-day delivery when required is becoming more and more popular as customer demands increase. The positive feedback wholesalers receive is proof that they are continuing to get things right for customers, which is where a wholesale relationship can come into its own.

Neve miss the opportunity for promotions

Different tyre brands offer different price points with some offering some great profit potential. A wholesale operation is perfectly placed to bring these opportunities to your business, with access to so many brands. Furthermore, many come with eye-catching sell-out opportunities too, with sales incentives for customers such as Amazon vouchers, giftcards and money-can’t-buy experiences.

Know your market – and don’t purchase on price alone

Are you stocking the top selling tyres across the UK? It’s amazing how many garages don’t stock the best sellers. Conversation should be centred around price alone, which is usually the common denominator when it comes to purchasing tyres. While that will always be an important factor, get to know your customer base and their driving requirements.

By doing this, bespoke products can be delivered by wholesalers, after they have gained an understanding of what tyres your customers require for their specific driving needs.

Many garages sell budget and mid-range alternatives because they see it as the easiest thing to do, but there is value to a stock of premium tyres too, which also offer big margins at the same time.