ACSP Webinar Today – 5/9

This year we have been spending a lot of time discussing ways you can increase your profits.

One of the easiest ways to do that is to increase your average sale.

Join us on Thursday, May 9th at 4:00 est. as we discuss being more profitable.

Shaun Oriold, owner of Closet Envy Inc and I will give you specific examples of ways you are leaving money on the table.

Can’t make it live?

Don’t worry, we will be recording so you can view it while enjoying your favorite adult beverage.  🙂

Click below to register today –

https://register.gotowebinar.com/register/5905974330539352589

 

What is the Easiest Way to Increase Profits??

This year I started doing something different with my blog.

Every post has been about ways that you can increase your bottom line without adding any overhead to your operation.

The number of email responses that I have received this year has more than doubled.

Thank you so much for your feedback, I’m glad you are finding value in these posts.

The easiest thing to do, is to stop selling white melamine!!!

Think about it – it doesn’t require any additional labor to drill and band premium panels.

I know your customers are on a budget.

I know up-selling can be difficult, but when you can, sell something besides white.

There are a couple of ways to do it while still being sensitive to your client’s budget.

Richelieu is the largest importer of Italian melamine and it’s a great way to differentiate yourself from your competitor.

It could be pricey for some clients, but why not just upgrade the faces?

Richelieu also started bringing in melamine from Spain.  We brought in 10 colors specifically for closet mfrs.

It’s a double-sided light texture, includes four linens, four wood grains and two solids.

It’s a small step up from white melamine but much less expensive than what is currently on the market.

I have some kitchen customers using the linens as their cabinet interiors with high end glossy or super matte doors.  It’s a really cool look and again just another way to differentiate yourself.

Your goal should be to reduce your dependency on white melamine.

Not only will you make more money, but so will your designers and possibly your installers – everyone wins.

What percentage of your installs are white?

Have you had success offering complimentary faces?

What is your second most popular color, if it is summer flame or candlelight, you need to update your offering… It’s costing you business.

If you would like more info please comment below or reach out to your local Richelieu rep.

Thank you for reading.

Increasing Your Profits in 2019 – Part IV

Before we jump into Part IV of Increasing Your Profits –

I would like to thank all you that responded to last week’s blog.

I really enjoyed reading your success stories, your struggles and hearing about how your business will be changing in 2019.

Please keep the emails and comments coming!

Today’s tip is stepping out of the closet and into the other rooms in your client’s home.

Yes of course I know that all of you reading will install a laundry, mudroom and entertainment center but do your customers know?

Do you leave a piece of literature in the home when measuring their closet?

What about customers that you have completed jobs for?  Have you ever sent a postcard or email explaining what else you do besides closets?

According to Forbes.com businesses have a 60 – 70%
better chance of selling to an existing customer.

It’s much easier to sell more to an existing client than find a new one, and that’s not all –

On average they spend 33% more than a new customer.

How many closets can you sell to the same client?

That is why positioning yourself as more than a closet company will lead to increased profits.

You need a complete offering for other rooms in the home.

Today let’s discuss accessories that you could be adding to Entertainment Centers.

Floating shelves around a flat screen TV is a very popular look.

Yes, I know floating shelves can be challenging – if you’re a regular reader than you know that I have a solution for you.

We have surface mounted brackets that installs with a couple of screws and works for ¼” glass all the way up to 1-1/2” melamine. These are sleek and stylish brackets from Italy that any homeowner would be happy to show off.

Click here to see product specs and info about the Kaiman and Kalabrone wall brackets.

If you are looking for fully concealed shelf brackets we have that hardware too and we have a spec that will work with two ¾” panels.  It’s called the Triade – it’s the number one floating shelf hardware on the market.

Many wall units are designed with flip up and flip down doors.

Our new K12 piston is the sleekest on the market.

     

In a flip down installation it can hold up to 40lbs – perfect for a bottle of wine and cheese plate, the matching flip up keeps the look consistent.

Speaking of wine – have you seen our new wine pegs?  This product is perfect for closet customers to add on a return wall.

You can easily mount pegs on a decorative panel and mount the panel to a wall.

As you begin to move to other rooms of the home, the details are very important.   Which is why specialty hardware is key, also why you can charge more for the installation.

The last item that I want to mention in this post is our mini sliding door hardware.  The CD30CX is a great solution for hiding the gaming consoles, the cable box and the DVD player.  It also gives you the ability to install a full overlay sliding door, maximizing your storage!

For a closer look at all of the products mentioned in this post you can head over to Richelieu.com, our YouTube channel or of course contact your sales rep.

Keep your comments coming and stay tuned for Part V.

Thank you for reading!

Becoming More Profitable in 2019 – Part III

Before we jump into Part III of Becoming More Profitable –

I want to know – How has your month been going?

Have you made any changes to your business?  If so post in the comments below – I would love to hear about it.

Here are the links to Part I and Part II  just in case you missed it.

Today’s strategy for being more profitable is going to be really easy for you to implement, so if you haven’t taken action yet – maybe today is the day.

I want to discuss drawer boxes and slides.

When I first started supplying hardware to closet companies everyone was using white epoxy drawer slides – do you remember those $.85 slides?

Ball bearing slides where on the market but expensive – $7 – $10 for a 14″ slide.  Eventually import slides hit the market, pricing went down and the step up from a white epoxy slide to a ball bearing full extension became much smaller.

Within the first year almost the entire industry converted.

I really believe that we are on the verge of the industry changing again.

You no longer have to buy a $20 under mount slide – we have a quality under mount for less than half the price.

We also have come up with closet sizes that will fit on your 14″ vertical panels.

Homeowners have them in their kitchens and they are starting to expect them in their closets.

The leading companies across the US have already fully converted to under mounts.

The one catch is the drawer box construction is different than what you are currently making.

What are your options and how can you get around the catch?  You don’t think I would be telling you to convert without giving you a solution – do you?

If you are only offering under mounts as an upgrade the easiest thing to do is to outsource a dovetail drawer box pre-prepped for under mount slides.

Richelieu has a solid birch 5/8″ pre-finished drawer box that we supply fully assembled with a 7 – 10 day lead time.  Ordering is simple – we have an online order form that makes the process very easy, no need to send confirmations back and forth delaying the ordering process.

All you need to do next is order the 825 or 828 slides depending on the size of your vertical.

And That’s It!

Tell your designers to add extra “$” to the price of your drawers and even if  you only upgrade one job per week, now when a customer asks for under mounts you have a program in place and are ready to go.

If you want to convert fully let us know –

I still think outsourcing your drawer boxes is the way to go.

Depending on the type of machinery you are using, maybe buying pre-finished sides makes more sense.

Contact your local rep and we can walk you thru the process.

Do you have questions, comments – post below or email me at RDeMarco@Richelieu.com.

Thx for reading!!

Becoming More Profitable in 2019 – Part II

We are a week into the New Year, have you finally caught up?

Are you back into your routine?

Historically January and February are a couple of the slowest months of the year.  Now is the time to start thinking about introducing a new program or product line.  Use this time to work on your business – you will thank me in December.

This is Part II of Becoming More Profitable in 2019 – Here is the link to Part 1.

We are all trying to make more money, but that isn’t always as easy as – “I’ll just install more closets.”

Do you have the leads, designers, installers, trucks etc??

Even if you have the money to pay for the marketing and necessary equipment, do you have the people?

All the money in the world can’t solve that.

That is why increasing your average sales is the easiest way to go home with more money at the end of the week.

How do you increase your average sale?

I’m glad you asked, you have to do something to your closet today that you weren’t doing yesterday.

In last week’s post we discussed belts, ties and valet rods.  Making sure that homeowners aren’t spending that money further downstream.

Another thing you can quickly do is upgrade your decorative hardware.

Many of you sell an inexpensive chrome knob or wire pull and if you want to get fancy you offer them an upgrade – a bar pull.  Then you say “if you don’t like this make sure your handles are here at time of install and we will put them on.”  So your guys are still taking the time to install the handles and you’re not making any money for that time.  I’ll bet some of you reading have even given a credit back because they didn’t use your handles.

I created a closet decorative hardware board – 97CLOS, it has 8 handles and 4 knobs in 5 finishes.  Everything on the board is less than $5, if you don’t like my selection make your own.  Just come up with a program that works, you could add an extra $100 per week per truck.  How quickly does that add up?

Do you have a showroom?  Ask me about our tower programs.

Don’t just stop at the handles and knobs – what about the hooks?  Everyone reading offers a basic coat and hat hook.  Maybe some of you offer a very high end hook with concealed fasteners.  That’s a big step up especially if you are putting on cleat in a walk in closet.

Richelieu has the largest hook offering in the industry so that you can create your “Good”, “Better”, “Best” selection.

Stay tuned for my weekly post on “Becoming More Profitable in 2019.”

I love hearing from you – please let me know your thoughts.

Do you have questions, comments – post below or email me at RDeMarco@Richelieu.com.

Thx for reading!!