1. Colonial Marble and Granite
BEST IDEA CONTEST
Colonial Marble and Granite
Bright Idea:
INCREASED NET PROFIT & ENHANCED OUR CUSTOMERS EXPERIENCE
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2. The best idea that has impacted our company this last year was very easy to implement and didn’t cost us anything to offer. We first started working with Granite Gold in the beginning of 2016 with their free product sampling program that we handed out at the end of each installation. They then introduced us to the protection plan towards the end of There was nothing really for us to do except train the sales team to offer the plan when the team is closing a job.
The first month was selling protection plans was November 2016 and we sold 20 plans and made $2000 in profit without even trying. In 2017 we sold more than 500 plans and made over $50,000 right to the bottom line. We implemented some changes on the registration process with Granite Gold for We are adding the protection plan on the quote and collecting the funds ourselves. That way there is no waiting for rebates and we get the monies immediately. We install more than 2000 retail kitchens a month and are projecting to sell 500 plans per month bringing in $149,500 in additional revenue and $50,000 in profit per month. This will add $1,800,000 in revenue and $600,000 in profit this year.
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3. There are also additional trade channels within the kitchen and bath retailers along with the home builders in which we can implement the protection plan as well. The hardest thing on implementing the protection plan is making the time. We asked Granite Gold to get us a representative for our territory to work with our sales team and they are doing that now.
I should also bring up that we are responsible for handling the claims that come in from the protection plan sales. We have had three claims to date, and Granite Gold paid us $150 per claim to help offset the cost.
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