INVENTORY MANAGEMENT To a large degree your success will be determined by how well you can manage your inventory. There is more to inventory control than just simply buying new products. You have to know what to buy when to buy it and how much to buy. In order to do this you have to […]
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Sources of Supply, Showroom Merchandise Layout and Sources of Information on Store Decoration and Product Display
SOURCES OF SUPPLY The following list is representative but not a complete compilation of the manufacturers and distributors of tires and related supplies. New companies are coming into the market all the time and you should make it your business to watch for the announcements of their development. Do this by subscribing to relevant trade […]
Enhance Profits: Computing Margin and Markup for Tire Shops
As a (potential) tire shop owner, you must calculate gross profit margin and markup before even starting a business. Optimizing these two key metrics strategically is the only way to position yourself for growth and expansion. Our UTires management team created this blog post specifically for prospective tire shop owners. Learn how to compute margin […]
Regulation of Wages, Hours and Working Conditions (tire shops)
REGULATION OF WAGES AND HOURS The Fair Labor Standards Act requires minimum hourly wages for the employees of most firms. The minimum wage for employees covered by this act is set by Congress, it is $3.35 as this is written (in California the minimum wage is $4.25 effective July 1 1988). The act also requires […]
Financial Management for a Tire Shop
FINANCIAL MANAGEMENT You must regard capital as a business tool requiring skilled use. All money invested in your business whether in fixtures equipment stock or operating expenses should yield a profit. Because of the risks you incur by going into business for yourself this capital should yield a higher rate of return than could be […]
Taxes, Advertising and Promotion for a Tire Shop
TAXES As a business owner and employer you will be responsible for collecting various state and federal taxes and remitting these to the proper agencies. In addition you will be required to pay certain taxes yourself. When reading the following sections remember that at the time this manual went to press all tax information reflected […]
Tire Engineering
Everyone is familiar with the population mobility and the increasing severity of driving conditions: freeways turnpikes tremendous horsepower power steering power brakes revised driving habits faster breaking and cornering greater accelerations high-speed car-to-car proximity. All this automobile torque is transmitted through the tires. In addition to providing propulsion and directional forces tires must insulate against […]
Tire Life Cycle and Tire Reinforcing Systems
TIRE LIFE CYCLE An understanding to the role of tires involves an analysis of product life cycles and specifically the tire life cycles. A product life cycle is a forecast of product growth and length of Life based on an S-curve analysis. It depicts in effect the life of a product in a time frame. […]
New Tire Development and Technological Forecasting
How is a new tire developed? A brief description is given in this article about how new fabric polyester was commercialized in tires. The introduction to a new fabric into tires is a venture of major proportion. The origin of this venture began with an analysis that led to a selection sequence. An exhaustive study […]
Tire Testing Systems and Tire Manufacture
TIRE TESTING SYSTEMS As in all fields of technology a method of measuring performance is essential to progress. The major areas of a tire testing system are: (a) Laboratory testing of cords compounds and composites (b) Laboratory testing of tires (c) Proving grounds testing of tires (d) Commercial evaluation (taxi fleets truck fleets (e) Quality […]