Future-proofing your business

During our discussions with Audi for last month’s EV servicing story, it was interesting to hear that their franchise dealers are already changing their servicing business model to future-proof against the upcoming growth of EV’s and the consequent reduction in servicing work – even though any significant reduction is still a few years into he future. In their case this involved bringing inhouse work that in the past they might have used external suppliers for, such as supply and fitting tyres, repair and replacement of windscreens – including the ADAS recalibration work and minor paint and panel repairs.

When was the last time you sat down with some of your team and did some strategic thought/ planning around the future of your business?

What are the threats looking forward? Technology change is one – but so is other repairers opening in your area, or if you are in the paint and panel business, the growth of insurer-owned repairers. If a significant number of people keep working from home this may change the demographics for your customers (in a bad way if you are in a business area, but maybe in a good way if you are in a residential area). Once you look at the threats, also look at the opportunities. With more people working from home, what services would attract them – mobile repairs, pick-up and drop off etc. Even flexible drop-off times – if you are not driving to work then an early morning drop-off may not be as convenient. In strategic planning you look at four quadrants in what is termed a SWOT analysis – sounds scary but it is just listing out Strengths (of your business) Weaknesses, Opportunities and Threats. It’s actually a fairly easy exercise to do and may provide food for thought on the future plans for your business.

So maybe set aside some time and start SWOT(ing).

Cathy