Increasing Property Management Ticket Value
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Ancillary sales can sometimes make all the difference. Take an electronics store for example: a computer may not bring much margin of profit however the upgraded monitor, wireless mouse, speakers, etc. add to the profit gained from the sale. Your property management business is not unlike the electronic store.
Supplemental sales such as a truck rental, boxes, locks, insurance, bubble wrap, tape, etc. can help the bottom line increase substantially. If you haven’t already started offering these products in your facilities, take some time to look into a few vendors. If you currently market these types of products don’t neglect to monitor what sells and what doesn’t. And it never hurts to keep shopping around at other vendors to make sure you’re getting the best deal. It’s easy to learn how to determine which products would sell effectively in your store and you can always discontinue what doesn’t work.
Property management trends indicate that the days of just setting up shop and waiting for customers to walk in the door are long gone. It takes a keen business mind to stay ahead of the pack. I recently heard that the best way to predict the future is to make it yourself. Take a look at the local industry around you as well as nationally. What areas could prove profitable investments for your business?
Written by: Sarah Little, Total Quality Assurance Executive
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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.