Have you been thinking about buying a collision center?
You are about to step into the wonderful world of owning your own business.
There is one thing many collision center owners neglect to consider before initially setting up their businesses. Do you know what that is?
Are you sure?
There is one thing you MUST consider before buying your collision center…side services.
Side services can skyrocket your profit margins beyond even your highest expectations.
8 Collision Center Side Services That Skyrocket Profit Margins
Here are the eight most popular collision center side services that have the potential of boosting your profit margins beyond all expectations.
You can offer rubber truck mats, Duraliners, spray-on bedliners, or all three if you’d like. This side service comes with minimal investment and has an average gross profit margin of anywhere from 30-60%.
2. Paintless Dent Repair
Many insurance companies are now only paying for paintless dent repairs for hail-damaged vehicles. Therefore, offering this side service could be vital to your success and it has an average gross profit margin of about 50-75%.
3. Accessories and Customization
Custom work is a great way to receive word-of-mouth business. Additionally, custom work can bring you repeat business as well, because many people who like to customize their vehicles, will likely be back for more. And, if you have popular accessories available, those same people will buy those too. The average gross profit margin for accessories and customization varies too widely to calculate. However, customization can significantly add to your bottom line and the growth of your business.
Pin-striping is a common request and one that doesn’t cost you much in time, labor, or materials. And, the average gross profit margin for pinstriping is a whopping 75%!
Detailing can be a bit labor-intensive; however, this is a great service you can discount and offer as an add-on to other services. Just about everyone needs to have their vehicle detailed at one time or another. So why not give them an incentive to come to you for it. The average gross profit margin for full-service detailing is around 50-65%, unless you are offering it as a discounted add-on, in which case it will be a bit less.
6. Sprayed-On Chrome
Sprayed-on chrome is a money-maker and relatively easy to do. This side service requires very little investment in time or money and has an average gross profit margin of 75%.
7. Window Tinting
Window tinting is another money-maker that doesn’t require much inventory and is something almost everyone wants. And while it is a bit time-consuming, it has an average gross profit margin of 65-75%.
8. Glass Repairs and Replacements
This side service requires a fairly large investment in time and money. Therefore, you need to seriously research this one before diving in. Additionally, the average gross profit margin is only around 35%, which is relatively low compared to other side services.