Business Tools

How Profit Sharing Took Sun Tire From Good to Great

By Ashley Reyes

Profit SharingProfit sharing can be a powerful tool for attracting and keeping talented employees, building a strong and healthy foundation for your business and creating a customer-friendly environment.

Automotive service companies, particularly those in the wheel and tire industry, often struggle with customer trust and loyalty. Giving employees a stake in the company is a great way to motivate staff to improve customer service and build trust, and consequently sales and profits as well.

Aftermarket wheel and tire companies are invited to a live webinar on May 19, at 12:30 p.m. (PDT) to learn the ins and outs of offering a profit-sharing program. Dick Erickson, founder of Sun Tire, will share how his company went from good to great after introducing a profit-sharing program. Erickson will break down how offering a well-defined and transparent program resulted in reduced payroll, improved customer relations, less employee turnover and reduced shrinkage.

“I think profit-sharing is the catalyst that separates great companies from good companies. The boost in sales and profits gives employees a stakeholder mentality, which will have a positive effect on sales and profit,” says Erickson. “In most businesses, employees are not stakeholders. When all employees became stakeholders at Sun Tire, our business rose to a whole new level.”

Register for the live webinar “Building Your Business through Profit Sharing”, presented by the SEMA Wheel & Tire Council (WTC), here.