Monday, January 14, 2019
The appliance repair industry is an extremely competitive area, but the competition now feels even stiffer because of the fact that aside from internal competition between businesses working in the field, there are also external aspects which are adversely affecting the repair industry. To understand what we are talking about and how it is still possible to get involved in the appliance repair industry today and generate a good profit, let’s discuss a few important - and relevant - details.
The Increasing Per Capita Income in the US
Thanks to a huge growth in per capita income over the last decade or so, a lot of people with disposable income would rather buy new appliances rather than getting the old ones repaired. This is not to say that everyone does this because then the repair industry would go bankrupt and stats show that it’s still a long way from that. However, the people who buy new products rather than repairing them do so because it seems a more convenient option. If an appliance repair service makes their customers feel that repairing is the more convenient and economical choice, rather than buying new appliances outright, most people will still opt to get their products repaired, especially the expensive ones. With regard to how you can do this, we come to our next point.
The Importance of Proper Customer Interaction and Support
As mentioned earlier, the key to success lies in making the customer feel that it is indeed a better option to repair the appliance in question, rather than to replace it completely. To make this happen, the customer interaction experience needs to be top notch. Some of the expected features from a modern appliance repair business that actually cares about the customers it serves and the appliances it repairs include the following.
A subscription plan that encompasses all costs and is priced competitively
Courteous behavior and timely service
Continued support in case something goes wrong with any of the repair attempts
Answering any and all questions that the customers may have
As long as the experience is good, even a comparatively new company will build a good reputation, which is just about the most useful and precious commodity in business. A good reputation takes a long time to build, while a single bad incident can severely harm years of good work, so practicing care while interacting and serving the clientele is even more essential than turning a profit, especially in the long run. Even in this time and age of the internet, a good number of people hire companies to repair their expensive appliances, based on the recommendation of others, so each time a company manages to please a customer, they are likely securing a line to the future as well.
Every Company in the Field Needs an Insurance Policy Without Exception
Insurance is a must for anyone working in the repair industry for multiple reasons, but before anything else, it shows a potential customer that the repair business in question is a serious company, with all the requisites necessary to take on any job. Next Insurance offers a contractor insurance policy for general liability that doesn’t just protect the company, but also the customers, in case of a mishap or an accident. They have specific policies designed for appliance technicians that make signing up for insurance both fast and financially flexible, due to affordable monthly payment options. In a competitive field where every business is looking for an edge, insurance coverage is a must for instilling confidence in both parties. In some states, repair and installation businesses may not even be allowed to work legally until and unless they have insurance.
Online Availability and Presence is Extremely Important
Smartphone apps are more popular than websites and websites are more popular than phone numbers, as per multiple surveys on how customers like contacting the service industry. What this means is that in order to be successful as a repair business, a company in 2019 not only needs an online presence, but that presence also needs to be mobile friendly. Launch your own app in the App Store and Play Store, which the customers can then use to check information about the company, its credentials, and book necessary services when they need to. A social media campaign is also a must when it comes to digital marketing. Given how affordable it is to market any small business on Facebook, thousands of small businesses are making use of the social media site’s many tools to brand and market every day.
There is little doubt regarding the fact that the growing income of the average American has indeed affected the service industry while boosting the manufacturing business, but that doesn’t mean that the appliance repair business is going to go away any time soon. It only means that the companies working in the field simply needs to be a lot more proactive and cater to their customers more attentively than before.