THE WORLD HAS CHANGED. AND YOU ARE ABOUT TO BECOME LESS EFFICIENT

Imagine if all of your customers were new customers. We all love new customers.  They are excited about us and we are about them.  We have no receivables or service issues with them, and they have never complained to us about anything.  Most importantly, they are bringing us revenue that we didn’t have before.  There…

DEVELOPING A FINANCIAL BATTLE PLAN IN UNCERTAIN TIMES

In recent weeks, fuel dealers had been lamenting the impact on earnings from an unusually placid winter stretch, with hopes buoyed in some respect by very favorable commodity prices. But seemingly overnight, the COVID-19 scourge which was critically impacting other parts of the world suddenly became very real. Now a pandemic, the virus impact has…

What Can’t Technology Do? Change Your Behavior.

It seems that technological changes are coming at us at the speed of, well – technology.  From an app to deliver food to your door within minutes of your order, to the latest innovation that keeps your car in its lane while at the same time keeping it a safe distance from the car in…

Budgeting Best Practices for Fuel Dealers

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…

Financial Planning Tips Every Fuel Dealer Should Know

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…

Delivery Costs: How Much Does A Runout Really Cost You?

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…

Delivery Optimization: One Small Change Can Save You A Trip To The Rack

Each day your driver has the same (or a similar) routine. They get in around 6am, performs a pre-trip inspection on the truck, heads to the rack, waits in line to fill up and then off to start making deliveries for the day. At some point the driver will make their way back to the…

3 Steps to Prepare Your Data to Make Your Company More Money

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…

MID-SEASON COURSE CORRECTION: TOOLS TO GET YOUR COMPANY BACK ON TRACK

There are two areas of your business that will determine your success or failure for the remainder of this season: Financials and Operations. Your financials act as the “symptoms,” giving you the first signs that something is wrong. Once you can determine where the problem may be, you can review your operations to help guide…

Winter Storm Preparation Tips

Proactively Preparing For Winter Storms Each time a winter storm strikes your area, customers panic and flood your office with calls. Your team scrambles to keep up with the demand and serve as many customers as possible. It can certainly be a challenge for the best of us. When a storm is predicted to hit…