‘Profitize’ your service business by attending Summit’s four ServiceSource events

By Paul MacDonald, Expert Service Program

BrandSource set a lofty goal in 2020 for all servicing dealer members to become profitable in service within three years.

The pandemic sure threw a wrench in this goal, but it is possible to achieve profitability if the servicing members want it. “Own It,”the theme for Summit 2022 in March,could not be more relevant to the task.

It’s time to walk the talk and make some changes in how we go to market with the service offerings of these businesses. Run your service operation as a profit center and not a cost of doing business (CODB), and we can accomplish the BrandSource goal. If you “own it,” it will also become your goal, and I’m here to help you achieve it!

To that end, the Summit will offer three ServiceSource education sessions on Monday, March 7, followed by a ServiceSource Town Hall on Wednesday, which will put you on track to service profitability this year. Here’s what’s in store:

How to Set Service Rates Based on Cost
Join me for this 2-hour workshop and I will walk you through how to calculate your CODB and set your service rates based on your costs to deliver profits. Stop guessing rates and start calculating what you need. Bring your numbers, and we’ll make the calculations together (click here for worksheet.) If you’re using the Blue Book in your business, I’ll show you how to modify it based on your costs to deliver profitable service rates.
Monday, March 7, 10:00 a.m. – Noon

Service Profits = Efficiency & Billable Work
During this 1-hour session, you’ll learn how operational efficiency impacts your service profits. We’ll explore 15 ways to improve your company’s efficiency that will increase billable hours and deliver margin contribution from your service offerings. You don’t want to miss this one.
Monday, March 7 @ 1:00 p.m.

Warranty Service Best Practices
Warranty service will break you if you let it! Your warranty to COD service ratio is crucial. Learn how to optimize it. Stop losing time and money on warranty claims. Learn best practices for Service Bench, Service Power, Samsung and LG.  This session will be co-presented with BrandSource service resource Just Press One, “Your Workforce Solutions Partner” specializing in warranty claims administration.

Service Source Town Hall Breakfast
Join me on Wednesday, March 9 at 7:00 a.m., when BrandSource members will share their road to profitability. Oh, what you can learn from them! Don’t miss it.

So enough talk about service profitability — own it and make it happen in 2022!

BrandSource service consultant Paul MacDonald ran his own 38-tech service business and is a past president of the UASA. He currently operates the Expert Service Program, which helps servicers run their operations more efficiently and profitably. You can reach Paul at Coach@ExpertServiceProgram.com.