Q&A: “The Wheel Specialist pricing seems to be on the premium end of the spectrum – why is this?”
Question:
“The Wheel Specialist pricing seems to be on the premium end of the spectrum – why is this?”
Answer:
Pricing is a hot topic and an important one for franchisees, especially if they’re starting out against local competition.
First, I’d like to note the difference between price and cost. There’s always someone willing to offer a service for a silly price, and in our industry that almost certainly means a ‘smart’ repair or a sub-par services.
We like to think of it this way: price and cost are not the same. The price is what a customer pays for the work – the cost is what it takes to get the job done. For example:
You pay a price of £45 for a (supposed) full wheel refurbishment which, for that price, it almost certainly won’t be. But if you have to have it re-done four months later, the actual cost is £90 – plus having to take more time off work.
When you factor in this added ‘cost’ and the superior durability and quality of TWS finishes, we often work out ‘cheaper’ in the long run due to not having to get a wheel re-done soon after… and just as importantly, not needing to waste the most precious asset you have: your time.
Quality, quickly
That leads nicely onto one of our USPs: turnaround times. As we often state on our customer website and marketing material, our model enables the fastest turnaround times in the industry. With most finishes a customer can drop their car off, go shopping or go to work, and come back to pick up shiny new wheels!
On top of this we are a brand that’s synonymous with quality; a premium level of service. People feel safe leaving their prize possession with The Wheel Specialist, knowing all branches are insured to a high level and we have very high H&S standards throughout the network.
What does a premium level of service mean? Well it includes, but isn’t limited to:
Guarantees for both powder coating and diamond cut finishes.
Top-class suppliers: we aim high with every supplier to achieve a standard of finish which focuses on quality and consistency at every branch of TWS.
Clean, smart and professional premises. If you’ve ever been into a TWS showroom, you’ll know exactly how sleek it looks.
Only using thoroughly proven processes, including diligent quality checks to maintain our brand standards. There’s a reason our franchisees have such spectacular reviews on TrustPilot.
The price is the price. Unlike some others, we always aim to quote the price you will pay. Of course, sometimes there are unforeseen additions – but this is the exception rather than the rule.
Franchisee impact
So what does all this mean for franchisees? Sometimes, pricing can become a fixation for a new franchisee; they feel they need to cut their price to increase sales. They’ll call me and say something like:
“Jack, I know this was mentioned in my training, but I really think I need to lower my prices to stay competitive in my area,” followed by: “My territory is different to the rest of the UK.”
My response?
We’re a premium brand with a premium service, and we’re proud of that. And by having dozens of branches from Scotland to the south coast successfully following our proven model, we know your territory isn’t an exception.
Other refurbishment & customisation companies that can ‘knock them out’ for 25 quid a wheel are not competitors. They can’t match our processes, quality, standards, turnaround times or guarantees. And your local customers will quickly find that out as word spreads between friends, and on social media.
We know our brand position: we will never be the cheapest on the market, but we plan to always remain the market leader.
If you share our passion for delivering the ultimate customer service, we can help you reach that position locally too.
Jack Murphy QFP
Managing Director
The Wheel Specialist