Slumping Canadian Dollar Squeezing Cell Shop Profits
The Canadian dollar has fallen. And there is a chance it could fall even more. Since the beginning of the year, you’ve probably noticed that the costs of goods have begun to increase. Customers have started to notice too.
How quickly things change. Just less than 24 months ago, the dollar was at parity with the US. Your margins were high. Things felt generally positive. Today when looking to buy goods priced in USD, after you’ve added 30%, plus any additional import costs, the prices don’t look as attractive.
The 2 Most Popular Ways To Sell Your Repair Services Through a Repair Ticketing System
I’ve had the opportunity to work with many owners of repair stores who focused on cellular repairs. During my time I’ve really only seen two general ways that repair owners sell their services through their repair ticketing system. Chances are you fall into one of these two camps.
This short article will discuss the two general methods as well as their advantages and how to implement then inside of your CellStore Software account. If you are not familiar with CellStore Software, it’s a repair ticketing, point of sale, and inventory management system for owners of cell phone shops. Sign up for your account here.
Before I start, CellStore’s repair ticketing module supports both methods so there’s no need to worry. So let’s get started.
The Secret Software Powering Many Cell Phone Repair Franchise Businesses
With the explosion in popularity of smartphones, their value as key communications devices, their high price points (at the higher end), and the fact that they are prone to break under everyday conditions cell phone repair stores have become one of the fastest growing retail opportunities.
According to IBIS World 2016, the cell phone repair industry recorded annual revenue of $3.6 Billion growing at a rate of 3.1%.
Where there were some early franchise entrants into the cell phone repair franchise model, like CPR Cell Phone Repair in 2007, most of the industry comprised of independent repair operations and some regional operations until recently.
Since 2012, franchises dedicated to mobile device repairs have increased dramatically. Much of this growth has come from successful independent shop owners venturing into the franchise business space, however regional suppliers/wholesalers have also joined see this as an opportunity to increase their distribution and bottom line.
Tips for Creating Good SKU’s for your Cell Phone Store
Most inventory management systems for cell shops require that each unique item have it’s own SKU. Creating great SKU’s will make accessing your inventory from POS easy and intuitive. This quick article will give you the details on how to create great SKU’s for your cell phone shop inventory items by sharing today’s best practices.
A SKU stands for Stock Keeping Unit and is sometimes called a product code.
SKU’s are an important part of creating inventory items in an inventory management system, and makes finding, referencing, and selling inventory items easier for you and your staff.
Top 5 Business Expenses for Cell Phone Store Owners
As an owner of a cell phone repair or retail store you know that there are expenses hiding around every corner. And although at the end of most months you can put some profits into your pocket you need to keep your eyes on every dollar. In the article we cover the top business expenses that cell phone owners encounter. Controlling these costs will maximize your chances that your cell shop will survive, thrive and ultimately win.