How do we retain customers? Start by looking closely at your most loyal customers and see what they have in common. As we’ve studied over 500,000 customers from over 150 dealers, we’ll give you a hint: The most loyal customers are the ones on Price Cap Programs! Wondering how you can introduce this powerful tool to your customer base or how it’s offered, hedged and tracked? Read more...
In the world of heating fuel distribution, efficiency is paramount. Today's heating fuel dealers face the day-to-day challenge of ensuring timely, dependable, and cost-effective deliveries to their customers. Optimizing delivery operations not only enhances customer satisfaction but also streamlines business processes and positively affects your bottom line. To help get you started, our team has put together a few strategies you can implement to optimize delivery efficiency (and profits).
In his recent article, featured in the January issue of Fuel Oil News, Rashaan Baskerville discusses how a current interest phenomenon may provide you with a rare opportunity to significantly reduce your interest expenses.
How do you describe a year that began with one of the warmest winters in recent history and ends with OPEC+ members signing off on an admittedly vague plan to phase out fossil fuels at COP28? My answer is… it was better than the prior two years! We are completing a year of relative normalcy…
Keeping customers warm through the winter is the most important part of your business. So, it’s no surprise that deliveries are the largest component of your expenses. When you dig into ways to cut down on those expenses in many cases it comes down to making larger and (therefore) fewer deliveries. However, simply targeting larger deliveries may or may not be optimal and as such may not decrease but actually increase delivery costs! How do you define an Optimal Delivery?
They say history repeats itself and nothing is more true than when it comes to your customers. To maximize profitability, it is imperative that you look at your customer data history, leveraging it to find the ways you can increase your future profits. Weather history, degree-day history, delivery history, price history, equipment installation, and service history -- this data is your most prized possession. Not only is it your customer list and your “official record” of customer behavior – but if utilized correctly, it provides insights into their future behavior...
When considering whether to hedge (or not to), it is important to review the following key factors: Variable Cost Structure: , Fixed Cost Structure, Inflation, and Interest Rates.
How Do You Make it Cold? You cannot control the weather, but you can control the impact the weather has on your business. There is an old joke about some guys sitting together talking about their “best” insurance scam escapades that ends with the line, “So, how do you make a flood?” (If you don’t…
A budget is a financial plan based upon your business goals, which forecasts profit and loss within each area of your company to define your net income for the year. Developing a sound budget is all about quantifying your business model for the next 12 months. What are the elements that drive your business and…
BRITE®, by Angus, utilizes YOUR data to give you timely insight into the key aspects of running your business. Built specifically for fuel distributors, it shines a light on Delivery, Dispatch, Service, Finance and Customers. Our easy-to-use dashboards are meant to be custom-built for each user based on their role and level in the organization.…
