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BodyShop Business Blog

"D" is for Diversification – and Doughnuts

We've been talking a lot about diversification lately in BodyShop Business as a key to body shops' future success. I saw a perfect example of that the other day when visiting a Dunkin' Donuts. Back in the day, all Dunkin' Donuts sold was coffee and doughnuts. Have you visited one lately? Now they're practically selling everything, from breakfast sandwiches to lunch items to ice cream. Should you add on a doughnut shop to your collision repair facility? Of course not. But you should continually look at other service offerings that closely align with what you already offer but could bring in extra profit. After all, no business should be one-dimensional.
Published May 05 2008, 07:11 PM by jstahl

Comments

 

Donnie Smith said:

Funny you mentioned that.  I agree, I would have never imagined 20 years ago,  the revenue coffee (Starbucks) and bottled water generate today.  

Our environment is changing at a fast-pace today, so we must re-think and come up with new ways to survive and stay ahead.  

I like the way you used donuts to convey this point.  it makes perfect sence.

May 22, 2008 11:20 AM
 

jstahl said:

Thanks for commenting, Donnie. You're right – who would have thought people would pay for bottled water? Some people have even gotten so used to it they wouldn't drink from the tap if they were dying of thirst. It just goes to show how being a "visionary" and seeing trends well ahead of their time can pay off in a big way.

I think more collision repairers need to be visionaries, but I'm not sure it's something that comes easy. I think you just have to read a lot, stay on top of what's going on in society and maybe every so often take a chance. After all, out of every failure comes great success.

June 4, 2008 9:24 AM

About the Author

Jason Stahl has 14 years of experience as an editor, the last two serving as editor of BodyShop Business. He currently serves as an advisor to the Paint, Body and Equipment Specialists Committee of the Automotive Aftermarket Industry Association and is a gold pin member of the Collision Industry Conference. Jason, who hails from Cleveland, Ohio, earned a bachelor of arts degree in English from John Carroll University in 1994 and started his career in journalism at a weekly newspaper, doing everything from delivering newspapers to selling advertising space to writing articles. In 1999, he broke into trade publishing with a five-year stint at Advanstar Communications. In his spare time, Jason enjoys playing golf and spending time with his two children.
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