Are you tired of struggling to keep your auto transport broker business afloat? Do you want to turn your business around and propel it from the red into a thriving success?
Uncover three powerful but simple strategies. They maximize revenue, boost profitability, and pave the way to a profitable business.
Don’t let financial hardships hold you back any longer. It’s time to make a bold move towards sustainable success!
Before we cover the 3 strategies, everything you’ll learn here is covered in depth inside our broker course. You can check it out here.
1 | The Rolling Snowball Effect™
One of the simplest ways to increase revenue is to increase your prices.
You may not realize this. For a client shipping their vehicle, there’s not a huge difference between a $150 move and a $250 move. It’s all how you position yourself.
Is it true that customers care about the total cost of the move?
Yes, many of them do. But when it comes down to it, one broker quoting them $1200 vs you, quoting $1300 is not that different. Something that is easy to explain why to a potential customer.
Especially since you’re a more knowledgeable, caring and strategic broker.
In your business, there’s a huge difference between making $150 per car and $250. In fact, it works out to double the money.
Let me explain:
If you ship 10 cars in a month and you charge $150 per vehicle, you’re going to make $1500.
If you charge $250, you’re making $2500.
$250 per car x 10 cars = $2500.
Simple math, right?
If you spent $500 on leads, your profit was $1000.
$1500 – $500 on leads = $1000.
Because you’ve increased your rate by $100 your profit is $2000.
You’re doubling your profit. $2000 is equal to $1000 x 2.
That’s what I call the Rolling Snowball Effect™.
Doing something as simple as increasing your rate by $100 can land you in the green over time.
When you roll a snowball down the hill, it’ll pick up snow as it goes. It becomes twice the size or larger of the original snowball.
In order for this to work, you need to know your numbers. It goes without saying but I had to for the people in the back.
Review your pricing strategy. Ensure it aligns with your costs, market value, and profit margins.
Consider adjusting prices if necessary to maximize revenue without compromising quality.
2 | One Lead into Many
This is my favorite one and one I only share with my big fish clients usually.
Not only will this generate leads, but it can grow your business to record numbers if used right. It’ll get you out of the red and into the green.
This is one that I’ve used in my own businesses to get more clients.
You take one client and you use that one to generate more clients.
You find your dream client or company you want to work with.
So let’s say you know a large local dealership that you think can enjoy your services.
Because you’ve done the research, you know that if you can get them to use your services one time?
And you know that if people knew you moved for them before?
New people will come flocking to you or they will hire you themselves.
So you offer that particular company or dealership a free move.
Now when I introduce this to companies I work with, they usually meet me with a shocked face and a ton of resistance.
Madness you speak.
But as I mentioned to them, hear me out.
So with this technique there are two possible outcomes both positive.
You tell this company that you are willing to move their vehicle for no charge.
Yes this includes the carrier’s fee.
And yes that is you coming out of your pocket but remember it’s a write off and it’s marketing.
In return, they will write a letter of recommendation with their company seal. The letter will say that you moved the car and they would recommend you.
Here’s the thing…
Be smart here.
You need to have a system in place for this to work. You have to do your research and you have to trust these people.
This will not work if you’re targeting small no name dealerships.
If you don’t have a clear agreement that they will write that testimonial, this won’t work.
And this definitely won’t work if you don’t do your research and choose the wrong company to “partner” with.
There’s another possible outcome if you do a great job. If you show how you can save them time or money or the combination of the two (golden), they will want to hire you.
But you still want that letter of recommendation or testimonial. It’s your golden ticket to more clients.
Now that you have this golden ticket, you can use it to contact other companies like it.
If you targeted the big boy then you can leverage that to get the medium to smaller companies. When they see you’ve moved for Nissan or Ford, they will be happy to do business with you. You have social proof.
Or like the children say these days: clout.
That’s how you leverage one client for more.
Is it an investment? Yes.
But so is every other form of marketing.
Be it time or dollars.
Even if you don’t plan to do corporate relocations or dealer moves, this works. Having the ability to say you’ve moved cars for “IBM” or “Sysco” is huge.
Talk about social proof, maximized.
Even if you’re spending money in the beginning, the trade off is the amount of money you’ll make down the line. All from this one client.
Like the Rolling Snowball Effect™, you will go from in the red to profitability over time.
3 | Maximize Your Revenue™
The final strategy we’re covering is finding opportunities to Maximize Your Revenue™.
Inside the Ultimate Auto Transport Broker Training Course, you’ll learn how to find hidden money in your business.
When most people think of auto transport brokering, they think of getting paid to ship a car and that’s it.
A smart broker understands that there are many ways to increase your revenue. Without shipping more cars. We’ve learned two cut and dry ways. One, increasing profit and two, turning one client into many using social proof.
The other way is exploring opportunities to expand your service offerings. Or diversify into complementary services that align with your expertise.
Let’s look at a concrete example.
You can offer gap insurance.
In the regular world, gap insurance does one thing. It bridges the gap between the actual cash value of a vehicle and the remaining balance on an auto loan or lease.
In the context of auto transport, it’s a little different. Gap insurance protects vehicle owners or transporters against potential financial losses. In case of damage or loss during the transportation process.
It usually only covers the person’s deductible.
There are various types and coverage options when it comes to any kind of insurance. But that’s irrelevant here.
By offering gap insurance to the customer for a fee, you can increase the average order value of each client.
The average order value refers to how much each person spends with you.
Let’s say your service fee is $100 and you add gap insurance at $125 more. Anyone who purchases with you brings in extra income for your business.
Now there is one thing to realize here. Depending on the company you choose for gap insurance. Or whether you do what we teach inside the broker course, your profit margins will vary.
As long as you’re pricing this add on service more than the cost it takes to fulfill it, you’re adding more revenue.
When you add more revenue, as we learned with the Rolling Snowball Effect™, over time, you’ll make more money.
Adding gap insurance is only one way to add more services. Inside our course we cover other ways to do this with great examples.
If you liked these strategies, you’re going to love what we teach inside the Ultimate Auto Transport Broker Training Course.
We walk you through our unique system for building a profitable auto transport broker business from the ground up.
So there you have it..
How to Go From Struggling to Thriving. 3 Things That’ll Move Your Auto Transport Broker Business out of the Red
We hope you’ve enjoyed this article.
Now get out there and make moves happen.