Have you ever gotten in your car and decided to just drive to a destination without a plan on how to get there? What streets would you take? Would you need to stop for gas? Would you need your GPS? These are just a few of the many items that you would need to consider…
Written by: Jeffrey Simpson (as seen in Fuel Oil News) Our financial advisory team works with fuel dealers of all sizes and we’ve pulled together our top tips as you review your capital needs and banking relationship in the off-season: Be cautious when making growth purchases during season. With the pressure on dealers to expand…
The highest priority of every fuel dealer is to make sure automatic delivery customers don’t run out of fuel. This is especially true during the winter months. During a recent interview with Gary Sippin of Sippin Energy Products, he mentioned: “the true cost of a run-out is grossly misunderstood.” This led us to explore the…
It doesn’t matter what industry your business is in; your customer data holds the keys to unlocking powerful information. It is the direct guide to your customers and your operation. This is especially true in the fuel industry. Most of the time you find yourself guessing about what you think your customers need or what…
As you all know, weather can dictate how profitable your company will be during the season. Some of you may already be familiar with weather hedging programs and may even have implemented them into your company’s strategy. While we still see many companies with misconceptions about weather hedging, the main source of this misunderstanding stems…
Weather hedging may seem unnecessary – until it isn’t. One month you have record low temperatures followed by another month with record high temperatures. The point is, weather is too unpredictable and can negatively affect the success of your company. While we may not be able to predict the weather, there are certainly ways to…
“Old habits die hard.” For better or worse, this well-worn phrase applies to many who operate in the fuel
Written by: Jeffrey Simpson, Angus Finance | As seen in Fuel Oil News Hedging & Pricing Program Considerations If you plan to offer pre-buy, fixed price or capped price programs this year, have you reviewed the number of gallons and customers participating in each last year? What new variables could affect the level of participation…
Simple metrics to evaluate your company’s financial health Let’s face it, many owners and managers in the fuel distribution industry are great at operations and customer service but turn a blind eye to an in-depth evaluation of the financial and banking side of the business. Whether due to the day-to-day operational demands or a general…
Just because you can, doesn’t mean you should. – Tech Savvy mantra Just because you should, doesn’t mean you will. – Tech Scared mantra With the world of technology rapidly changing, and often bypassing us at lightening-speed, it is difficult to understand all the costs and benefits of the various offerings that we are bombarded with.
