During the COVID-19 pandemic, customers purchased 14.9 million motor vehicles in the United States. With every new car, truck, or motorcycle introduced to the streets and roads of the world, the need for automotive repair services increases. In this kind of business, demand is less of a concern than having the tools and time to take advantage of it. But with outsourced accounting services, you can find ways to generate more revenue for your auto repair service, regardless of the size of your business. Here are three ways outsourced accounting services empower you to create more revenue in the auto repair sector.
Reduce Overhead with Outsourced Accounting Services
By outsourcing your accounting, you will spend less on keeping your finances in order. The cost associated with staffing accountants and bookkeepers can quickly escalate, becoming a burdensome expense on your books. Using an outsourced solution, on the other hand, you can reduce your average expenditure on accounting, reducing overhead and thereby increasing revenue relative to expenses.
This is particularly true when you have full-time accountants or bookkeepers on your staff. Additionally, as your auto services grow, you can avoid having to pay the extra overhead associated with hiring more internal staff; your outsourced provider can take care of the additional workload.
Every in-house activity and responsibility require attention and management from owners. On the other hand, if you outsource your accounting, you take a major item off your owners’ checklists of things to manage.
This enables owners to invest more time and energy in revenue-generating activities, such as:
- Investigating new services to provide, as well as the best and most economical ways of onboarding them.
- Discovering partnership opportunities with local businesses, car rental companies, and trucking companies.
- Looking into more efficient ways of running the business, such as reducing energy expenditures or altering opening hours.
Free Up Internal Staff to Generate More Business
Have you ever been driving home from a long day at work, get struck with a brilliant idea, but then realize you don’t have the staff needed to implement it? Through outsourcing, you can free up staff, making it possible to assign them to specific, revenue-generating ventures. For auto repair companies, there is often a wealth of these kinds of opportunities. For example:
- Marketing the business to a wider audience by investigating different channels, such as social media, a new website, or paid online advertising.
- Optimizing current online marketing initiatives by analyzing ad analytics and then implementing changes that generate more business.
- Researching the services customers need the most in each area where you do business and then finding ways of focusing on providing exactly what they need.