By now we’ve all heard of the famous catch-cry “Do you want fries with that?”
It started at McDonalds, which has made millions, if not billions, of dollars from this simple, six-worded question.
The customer is already standing there with their wallet open. They are just tempted to increase the purchase a little. So it begs us to ask...
What are the “fries” in your business?
What is the low-price, high margin add-on you can easily upsell to your customers with a high hit rate?
Many years ago, friends set up and ran a successful car refinishing business. The service was not cheap. It cost around $600 to $1,000! But at the end of the job, your car looked as good as the day you drove it out of the showroom.
So what was their upsell?
At the end of the job, they explained how to maintain the high shine finish and gave them a bottle of the car wash liquid. They also offered a set of microfibre washing and polishing cloths for $45.00. (This was when microfibre was still quite new.)
They used the microfibre cloths on the job, and they were and still are the best cloth to use on your car.
The result...by spending an extra five minutes with the client to explain the benefits of the cloths, they added significant profit to the job, for a higher hourly rate than the job itself!
So...what is your 'fries'? What is your easy upsell?
Bartercard has plenty of businesses that you could purchase from using your trade dollars that offer you high margins but are relatively low cost for your customer to buy. Think about small and useful products that you could add to your range, or what you already have. Also remember, if you do to purchase these 'fries' on Bartercard, you’ll be cash converting your trade dollars at the same time.
The keys to this are:
• it must be low cost, high margin for you to offer
• it must be high value to your customers
Well, that is quite simple really!
What should you do now?
1. Identify your 'fries'
2. Do some 'trial sales' to find out how best to sell it
3. Visit Bartercard's trading platform mybc.bartercard.com to find a supplier!
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International: +61 7 5676 5386
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