What’s Happening
Guardians of 12-Volt
Industry professionals discuss ways of guarding business interests, diversifying to ensure longevity and protecting businesses during times of potential economic distress. WORDS BY ROSA SOPHIA
With the pandemic came uncertainty, product shortages and plenty of online training. While business at many shops is currently booming, some retailers express growing concern for a potential economic slump. Jason Kranitz of Kingpin University in Las Vegas, Nev., who was featured on the February cover of Mobile Electronics magazine, said he feels a recession could be on its way. “Right now, people are getting stimulus money,” he said, adding that a lot of the recent retail business feels like the “easy
12 Mobile Electronics March/April 2021
money” of the ’90s. “It’ll dry up, and shops will have to find business again.” Brandon Green of The Car Audio Shop in High Ridge, Mo. agrees this is a possibility, but he noted that well-prepared businesses will likely continue to manage as they always have. “Even things like vehicle and technology changes already separate businesses that really go out and market themselves and educate themselves, from those that don’t want to learn or put in effort to improve themselves,” he said, adding, “I think we’ll be
fine.” Retailers and business owners agreed that being able to adapt to changes is key. Staying Focused on Core Values Vernon, Conn.-based A.C.T. Audio has recently learned that pinpointing core values—and continuing to revisit them during company meetings—helps maintain a straightforward trajectory, and also improves store culture. Shop owner James P. Smith said the business has seen a lot of recent change,
