4 Hidden Profit Centers to Help Your Business Grow

It’s no secret that retailers are always looking for an edge. Whether that edge comes from marketing, customer service or location, nearly every tackle shop in the country is searching for a way to separate from the competition. This week, we sit down with Eddie Winder,  president of wholesale electronics distributor Win-Tron Electronics, to learn four tricks for unlocking another edge—hidden profit centers—for your business.

“Here at Win-Tron Electronics we recently made a huge investment to upgrade our Dealer-Only-Website,” Winder says. “The upgrade was significant and added many new features that make the day-to-day running of their businesses much easier for our dealers. These features are used every day by every dealer who does business with us. Our investment has really paid off by allowing us to deliver tutorial videos that educate dealers on how to make the most of the site.”

Winder says the new website has been a smash hit, but he’s noticed a few key areas of the website that are overlooked by some dealers. And those areas are where his top picks for hidden profit centers rest, where your business can bolster its bottom line:

1 — Remanufactured Units

Remanufactured units are returns from large scale merchants. Winder says his company buys the units in bulk, enabling them to pass the savings on to you. The units are inspected and repacked, and come complete with a full manufacturer’s warranty.

Current deals: Standard Horizon VHF radios and Garmin Radar units.

2- Closeouts

Closeouts are, well, closeouts.  The pace of advancement in the marine electronics business can make your head spin. Just compare today’s multichannel CHIRP sonar with units from three or four years ago.  The quick pace of innovation makes for a shorter product life cycle. This means that there are always closeouts for you to take advantage of.

Current deals.

3 – Dealer Installation Rebates

Dealers can earn cash back just for installing electronics they sell.

Three of the major manufacturers—Garmin, Lowrance and Simrad—have ongoing dealer installation rebate programs.  For example, dealers can get $80 cash back for installing a Lowrance/Simrad StructureScan 3D unit or $90 for installing a NAC-1 Outboard Pilot.  Garmin is offering a $100 for the installation of the GPSMAP 7407/7407xsv units and $150 for the installation of PanoptixTM PS21/PS51/PS60 transducer.

Winder says other manufacturers occasionally offer install rebates to dealers as well.

Current deals.

4 — Retail Rebates

Who doesn’t love getting something for free or getting cash back in the mail after making a substantial purchase?

Retail rebate programs are designed to drive consumer sales. Winder says they’re also a profit center for retailers to leverage.

Marine electronics manufacturers offer rebate programs throughout the year.  Many offer cash back. Others offer free gifts or a combination of cash back and free gifts.  Right now,  ACR, ICOM, KVH, Ocean Signal, Raymarine, Sirius Radio and Standard Horizon have rebate programs.

Click here for rebate details and rebate forms.