Ralph's Tire Pros
From Struggling to Thriving
CASE STUDY
Client:
Ralph's Tire Pros
Industry:
Tire and Auto Retail
Years in Business: 20+ (Family Business)
Long Time 20 Group Member and ASL Client Since: 2021
Services Utilized:
Cultural Redesign, Financial Planning, Sales Strategy
Challenge
Negative Net Profit
Ralph's Tire Pros Owner purchased his 20+ year family business and found himself in a tight spot with negative net profit.
Financial Strain
Ralph’s was more than 90 days behind on bills and grappling with revolving credit card debt.
High Employee Turnover
A poor company culture was causing a high rate of employee turnover.
Low Sales Volume
Despite a long history, the business was experiencing low sales volumes.
Strategy
Financial Overhaul
Immediate action was taken to manage debts and restructure finances.
Cultural Transformation
Implemented cultural training and team-building exercises to foster a more supportive work environment.
Expanding Services
Introduced auto repair services to diversify income and increase sales volume.
Results
Sales Turnaround
Ralph's Tire Pros immediately saw an increase in sales volume due to the addition of repair services.
Cultural Repair
The culture inside the store was revitalized, resulting in minimal to almost no turnover in a short period of time.
Financial Health
By the end of the first year, they were not only current on all bills but also reduced their revolving debt to manageable levels. Furthermore, they achieved a double-digit net profit.
Testimonial
"Our journey with Advanced Shop Leadership has been transformative. They helped us turn our business around, from a troubled enterprise to a flourishing one. Their expertise in culture and financial planning is second to none."
