Tint World, with car audio as one of its leading categories, is predicting enviable growth. Its present total of 60 stores is expected to shoot up to 100 by the end of the year and then triple to 300 by 2025, said CEO Charles Bonfiglio.
Mobile Electronics is the number two or three category for the shops and is still growing. It’s one of the more difficult categories in terms of finding skilled installers and getting to know the business, so store owners tend to get better at it as they go along. But as the store owners mature, “they are actually getting pretty darn good at it,” said Bonfiglio.
Of all its vendors, in many categories, including window tint, car audio supplier Arc Audio, won Tint World’s Vendor of the Year recently. The supplier was credited with helping to “dramatically” grow high end car audio at the chain, said Executive VP Paul Pirro.
At Tint World’s recent annual meeting, Bonfiglio presented an overview of the business and its plans for the coming year.
The chain said it reached sales of $34 million in 2018, marking a 20 percent increase over 2017. The goal is to hit $50 million next year. The average store achieves sales of $707,000 per year, said the company.
Same store sales increased by $64,000 in 2018. Bonfiglio is hoping for growth of $100,000 in sales per location this year.
Thirty new stores are currently in the process of opening, said Tint World.
To streamline store openings, the company hired a national architect to create standard building plans (in small, medium and large sizes). “We just give them the plans and they adapt them to meet local ordinances. It helps them to get prices out to bid quicker, and get stores open quicker and save the franchisee money,” said Bonfiglio.
The chain has expanded to offer leather interiors. It’s also offering home audio/video and other home services and more business services and marine services.
It continues to expand back office and marketing services to the stores.
Every store now has access to human resources services through ADP, affording them full employee benefits with full healthcare and 401Ks, said Bonfiglio.
Tint World created a marketing dashboard so every franchisee can see all the leads that come in and his return on investment from marketing. Data from the point of sale system also shows up in the dashboard and can be benchmarked against other stores.
Data from all franchises is managed by a national accounting firm as of last year, so every week or month they get financial reports. All the product lines are integrated so Tint World can see which products are selling, as well as items per ticket and average ticket data.
The company is also providing new automated online marketing tools. Each store now gets its own online video and picture gallery.
Tint World has hired about six more managers including three new operations managers and a national technical training manager. Its headquarters staff nearly doubled from 12 people to 22, and the company is now moving to a larger headquarters.
“My vision is to have a great new, larger building between 10 to 15,000 square feet. We want to have a full digital marketing agency in-house with separate classrooms for a training center. And we want our own video promotion studio,” Bonfiglio added.