Mayfair Motoring's Success: Mastering the 'Rule of Threes'
11 Apr 2024|3,799 views
"Only start developing more than three houses when all of your streets have three houses each," Knappskog told VICE in an interview in 2015. Bjørn Halvard Knappskog was the 2009 Monopoly World Champion who walked away from the competition in Las Vegas with $20,000.
The strategy he had employed is called the Rule of Threes. The rule is simple. The first step always involves building three houses. Once this is done, you move on to another class of property, such as hotels. Thanks to Knappskog, this has become a blueprint for winning.
But what if Monopoly isn't just play but the real world?
Mayfair Motoring strikes me as a company that has cleverly mastered the Rule of Threes in its business game plan. 23 years into the trade, the family-run dealership continues to grow. Yet, one thing doesn't change: Its commitment to customer experience.
Motoring: The first in a set of three
Mayfair Motoring came into being in 2001 at Commonwealth. Even after its move to the Automobile Megamart in 2004 and as it puts down its roots there, the motoring arm remains Mayfair's first and most important pillar.
The business isn't only about buying and selling. 2024 marks the 15th consecutive year that Mayfair Motoring has been accredited under the CaseTrust-Singapore Vehicle Traders Association Accreditation Scheme. This speaks volumes about Mayfair Motoring's above-board practices, which comply with strict price transparency standards.
For 15 consecutive years, Mayfair Motoring has been accredited by the CaseTrust-SVTA Accreditation Scheme
The fact that Mayfair Motoring has been a Founding Member of the scheme since 2009 gives even more credibility to its enduring obsession with ensuring that its customers know exactly what they are paying for.
Apart from maintaining clear communications on price points and terms and conditions, such as a transparent cancellation and refund policy, it says it prioritises building trust over its earnings.
"Our strategy is clear: Customer trust over immediate profit. An enduring legacy must be built through long-term relationships instead of short-term gains," said Mr. Ben Wee, who works closely with his father, Mr. Mike Wee, to run the firm.
It comes as no surprise that Mayfair Motoring has defended its 13-year record as a Premium Dealer, awarded by Sgcarmart to the top 3% of pre-owned car dealers in Singapore. This makes Mayfair Motoring one of only two such dealers on local grounds.
Again, don't simply take our word for it. Search them up, and the numbers will speak for themselves. The positive customer reviews, which number in the healthy hundreds, clearly show that Mayfair Motoring has solidified its position in the industry with its value proposition of being a trusted company in the automotive industry.
The motoring arm is joined by Mayfair Rental in a bid to conquer the industry by wit
Rental: Conquering by wit and reach
In between chats, Mr. Ben Wee tells me that Mayfair Rental is a fairly new addition to their umbrella of services. It commenced operations about a year ago to help customers tide through periods of surges in COE premiums.
He explains that while most dream of owning a car - some need it to ferry the family around, others for their livelihood - not all can afford the price tags that come with COEs. The option to rent a vehicle gives aspiring car owners a means, albeit interim, to achieving an end.
The firm has seen many sell their car to Mayfair Motoring when their COE expires and look to Mayfair Rental to meet their mobility needs for the time being. The same customers come back when their conditions for buying a car are met. By solving a perennial problem that plagues customers, the vehicle rental arm ensures business continuity by setting the gears of the sell-rent-buy loop in motion.
This business unit is also proof of how the company subscribes to the customer-first ethos. By now, returning customers would be familiar with Mayfair's practice of always fetching them their desired vehicle at market price, even if it means cutting profit margins.
In a strategic tie-up with car-sharing platforms, Mayfair's rental unit has successfully expanded its reach
The sustainable belief on which Mayfair Rental was established has additionally led to its tie-up with car-sharing platforms to expand the reach of its leasing fleet.
Garage: The deal sealer
But what seals the deal is what's to come next.
The Mayfair Garage will soon open its doors in the second or third quarter of this year, offering a comprehensive suite of in-house workshops and post-sales services. This unit will be on a mission to value-add the customer journey by ensuring that the vehicles under Mayfair's care - whether they are up for sale or leasing - are kept in mint condition.
Having acquired three units at the Automobile Megamart, there are natural guesses on whether the garage is set to join the rest of the team here.
"We're still looking for the right house for the garage," teased Mr. Ben Wee.
A uniquely Mayfair's 'Rule of Threes'
Mayfair's trio of business units is a sensibly pieced-together, self-sustaining ecosystem that adds greater value to its customers' journey through enhanced synergies.
Together, Mayfair Motoring, Rental and Garage form a tightly-knitted, self-sustaining sell-rent-buy loop
In this carefully crafted game plan, each operation depends on the other to keep the cogs turning. But look even closer, and you'll find that Mayfair Rental and Garage hold the keys to fuelling Mayfair Motoring's longevity. Collectively, and perhaps more symbolically, all three arms form the springboard for Mayfair's future ventures.
Just as a well-positioned game of Monopoly sets you up for a win, Mayfair has played it wittily to its advantage with its own definition of the Rule of Threes.
It has built its first series of three. Now, it is ready to move on to the next.
As Mayfair Motoring continues their reigning streak of excellence in the automotive industry, their doors are always open for those who seek unparalleled service and a trusted partner in their automotive journey.
Discover the difference at Mayfair Motoring located at 61 Ubi Avenue 2, #05-11/14/16 Automobile Megamart, Singapore 408898. Your dream car awaits.
"Only start developing more than three houses when all of your streets have three houses each," Knappskog told VICE in an interview in 2015. Bjørn Halvard Knappskog was the 2009 Monopoly World Champion who walked away from the competition in Las Vegas with $20,000.
The strategy he had employed is called the Rule of Threes. The rule is simple. The first step always involves building three houses. Once this is done, you move on to another class of property, such as hotels. Thanks to Knappskog, this has become a blueprint for winning.
But what if Monopoly isn't just play but the real world?
Mayfair Motoring strikes me as a company that has cleverly mastered the Rule of Threes in its business game plan. 23 years into the trade, the family-run dealership continues to grow. Yet, one thing doesn't change: Its commitment to customer experience.
Motoring: The first in a set of three
Mayfair Motoring came into being in 2001 at Commonwealth. Even after its move to the Automobile Megamart in 2004 and as it puts down its roots there, the motoring arm remains Mayfair's first and most important pillar.
The business isn't only about buying and selling. 2024 marks the 15th consecutive year that Mayfair Motoring has been accredited under the CaseTrust-Singapore Vehicle Traders Association Accreditation Scheme. This speaks volumes about Mayfair Motoring's above-board practices, which comply with strict price transparency standards.
For 15 consecutive years, Mayfair Motoring has been accredited by the CaseTrust-SVTA Accreditation Scheme
The fact that Mayfair Motoring has been a Founding Member of the scheme since 2009 gives even more credibility to its enduring obsession with ensuring that its customers know exactly what they are paying for.
Apart from maintaining clear communications on price points and terms and conditions, such as a transparent cancellation and refund policy, it says it prioritises building trust over its earnings.
"Our strategy is clear: Customer trust over immediate profit. An enduring legacy must be built through long-term relationships instead of short-term gains," said Mr. Ben Wee, who works closely with his father, Mr. Mike Wee, to run the firm.
It comes as no surprise that Mayfair Motoring has defended its 13-year record as a Premium Dealer, awarded by Sgcarmart to the top 3% of pre-owned car dealers in Singapore. This makes Mayfair Motoring one of only two such dealers on local grounds.
Again, don't simply take our word for it. Search them up, and the numbers will speak for themselves. The positive customer reviews, which number in the healthy hundreds, clearly show that Mayfair Motoring has solidified its position in the industry with its value proposition of being a trusted company in the automotive industry.
The motoring arm is joined by Mayfair Rental in a bid to conquer the industry by wit
Rental: Conquering by wit and reach
In between chats, Mr. Ben Wee tells me that Mayfair Rental is a fairly new addition to their umbrella of services. It commenced operations about a year ago to help customers tide through periods of surges in COE premiums.
He explains that while most dream of owning a car - some need it to ferry the family around, others for their livelihood - not all can afford the price tags that come with COEs. The option to rent a vehicle gives aspiring car owners a means, albeit interim, to achieving an end.
The firm has seen many sell their car to Mayfair Motoring when their COE expires and look to Mayfair Rental to meet their mobility needs for the time being. The same customers come back when their conditions for buying a car are met. By solving a perennial problem that plagues customers, the vehicle rental arm ensures business continuity by setting the gears of the sell-rent-buy loop in motion.
This business unit is also proof of how the company subscribes to the customer-first ethos. By now, returning customers would be familiar with Mayfair's practice of always fetching them their desired vehicle at market price, even if it means cutting profit margins.
In a strategic tie-up with car-sharing platforms, Mayfair's rental unit has successfully expanded its reach
The sustainable belief on which Mayfair Rental was established has additionally led to its tie-up with car-sharing platforms to expand the reach of its leasing fleet.
Garage: The deal sealer
But what seals the deal is what's to come next.
The Mayfair Garage will soon open its doors in the second or third quarter of this year, offering a comprehensive suite of in-house workshops and post-sales services. This unit will be on a mission to value-add the customer journey by ensuring that the vehicles under Mayfair's care - whether they are up for sale or leasing - are kept in mint condition.
Having acquired three units at the Automobile Megamart, there are natural guesses on whether the garage is set to join the rest of the team here.
"We're still looking for the right house for the garage," teased Mr. Ben Wee.
A uniquely Mayfair's 'Rule of Threes'
Mayfair's trio of business units is a sensibly pieced-together, self-sustaining ecosystem that adds greater value to its customers' journey through enhanced synergies.
Together, Mayfair Motoring, Rental and Garage form a tightly-knitted, self-sustaining sell-rent-buy loop
In this carefully crafted game plan, each operation depends on the other to keep the cogs turning. But look even closer, and you'll find that Mayfair Rental and Garage hold the keys to fuelling Mayfair Motoring's longevity. Collectively, and perhaps more symbolically, all three arms form the springboard for Mayfair's future ventures.
Just as a well-positioned game of Monopoly sets you up for a win, Mayfair has played it wittily to its advantage with its own definition of the Rule of Threes.
It has built its first series of three. Now, it is ready to move on to the next.
As Mayfair Motoring continues their reigning streak of excellence in the automotive industry, their doors are always open for those who seek unparalleled service and a trusted partner in their automotive journey.
Discover the difference at Mayfair Motoring located at 61 Ubi Avenue 2, #05-11/14/16 Automobile Megamart, Singapore 408898. Your dream car awaits.
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Mayfair Motoring Pte Ltd
Address61 Ubi Avenue 2 #05-11/14 Automobile Megamart S(408898)
(map)
Phone64792220
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