As an owner of an auto body shop, you may be wondering how you can give your business a competitive advantage. Every city across the USA has a multitude of body shops, so what can you do to set your business apart from others? A proven strategy for many owners has been offering clients an independent lifetime warranty on some products and services. Read on to figure out what you can cover with your warranty and how it can benefit your business.
What is an Independent Lifetime Warranty?
While some auto part manufacturers provide limited warranties, you can offer your customers an independent lifetime warranty on some parts and repairs. While you may not be able to offer warranties on items such as engines or tires, you can offer to cover repairs on fit, finish, functionality and overall quality. You can cover items such as body work or paint jobs, mechanical repair, parts and OEM (original equipment manufacturer) parts.
Why Should You Offer Independent Lifetime Warranties?
As a small business owner, it may be difficult to manage costs as it is, and offering any kind of free work may seem like an unneeded expense. However, there are benefits to this incentive, such as:
Setting You Apart from the Competition
Many people shop around before committing to getting their car fixed or serviced at a body shop. They not only look for the most affordable price, but perks not offered anywhere else. You may not be able to beat the cheapest price in town, but you will be able to justify your cost by the fact that you stand behind your work!
Letting potential customers know that they don’t need to worry about bad service or faulty parts will set you apart from the competition and give new customers the faith to give you a try.
Another benefit of offering an independent lifetime warranty for your body shop customers is the promise they will keep coming back. A client may have chipped the paint on their car and came back to you for a free touch up, but chances are they may also require an oil change or a tune up at that time.
The promise of your guarantee will keep your clients coming back to your shop, where they likely will spend more money on additional work. This will lead to customer loyalty and more revenue for your business.
Word of Mouth Referrals
Individuals typically find body shops in two ways: through their insurance company or by referrals. Word of mouth referrals are incredibly important for small businesses, and offering an independent lifetime warranty is reason enough for your customers to share that information with their friends, family members and colleagues. This is not a common incentive for small body shops, and it is enough to impress your customers to recommend your business to others, growing your customer base!
If you are looking for effective ways to grow your auto body shop, you may benefit from a small business loan. Let IOU Financial help! Call us today to inquire about our fast and easy loans of up to $300,000.