Mobile Electronics Magazine - October 2017

Page 44

 strategy & tactics

Double Trouble From adding product offerings to expanding stores, or even consolidating the size of a business, retailers and experts discuss how expansion and diversification can boost profits for any company. WORDS BY ROSA SOPHIA

Growth is interpreted differently by business owners the world over, and that’s because it’s different for everyone. While one business may wish to expand, another might want to stay small. Over the years, each business picks up various strategies that work well for them. Mobile Toys, Inc. in College Station, Texas expanded in unanticipated ways, increasing space, diversifying product and adding staff. “Three years ago, we opened up our own upholstery shop,”

44  Mobile Electronics  October 2017

said Chris Pate of Mobile Toys, Inc. “We brought in our own stitcher and sewing machines. We expanded our offerings to dealerships for aftermarket leather kits and are able to do more custom interiors and repairs,” he added, noting that this was an entire segment of their business that they were unable to do before. At their second location in Bryan, Texas, the company has a 600 square foot space dedicated to special upholstery.

“From there we got into doing hot rod interiors, which went hand-in-hand with our work,” Pate added. “Since then, we started to do truck accessories. We can do everything you want on a vehicle. We just don’t do paint and body.” While Mobile Toys, Inc. expanded, Tunes-N-Tint of Lakeland, Fla. has consolidated its business to increase effectiveness in certain areas. Meanwhile, Sound Wave Customs in Virginia Beach, Va. has expanded in terms of staff, going from a skeleton crew of three or four team members to a staff of eight, including owner Ethan Blau. Each business has come across its own set of challenges, but each continues to grow thanks to the implementation of strong business strategies.

Tight Rope Finding good employees is one challenge stores in the 12-volt industry