Top Revenue Generating Programs for Equipment Manufacturers and Dealers
If you’re like most equipment dealers and manufacturers in this tough economy, you’re probably finding it tougher than ever to make the turnover you need to keep afloat. You might not have considered other revenue generating programs just yet, or you might think that there aren’t any other options in terms of revenue generating programs that are relevant.
So What Are Your Other Options?
There’s no question that finding new, effective revenue generating programs is a wise move – not just for equipment dealers and manufacturers, but for any business owner.
Good revenue generators are those that bring in steady, reliable income, long after the sale is made. They’re the ones that require less work, for greater profits. In short, they’re passive income generators.
The Specialized Financial Services Option
While you’re thinking about potential revenue streams for your business, it’s a good idea to consider specialized financial services as one of the options out there.
Specialized financial services are the perfect option for heavy equipment dealers and manufacturers, because it allows you to offer products that are in demand, and in many cases, to tailor the policy you offer your clients to their specific needs.
It also allows you to offer benefits like extended warranties, that safeguard your clients’ investments, and offer you additional profits, without additional expenditure.
Diversification Is Key
These days, with companies in all industries finding it harder to do business in their niche, diversification is key, and that’s true for all companies. In an industry where there is a considerable investment required by customers, like equipment sales, that’s becoming even more apparent.
The Proof Is In the Profits
The fact is, there are already equipment manufacturers and dealers out there, who are adding a passive revenue stream to their turnover. They’re already leveraging specialized financial services, on the spot physical damage coverage, loss damage waiver and extended warranties to improve their bottom line.
The reason they’re making money from these policies is because unlike some revenue generating programs, they’re selling products and services that their existing clients already want and need. They’re selling convenience, and peace of mind, alongside their high quality heavy equipment.
The dealers who have already embraced this type of profit generation are benefitting from selling their clients high quality, flexible insurance policies, that generate income long after the equipment has left their showroom floor. Instead of a once off sale, they’re turning their customers into repeat clients, and doing less work, to make more money.
If you’re looking for new and innovative ways to boost your profits, whether you’re a manufacturer or a dealer, isn’t it time that you also considered a passive revenue generating program like this?