vAuto Founder Dale Pollak recently told a group of Dealers: “We’re not in the car business, we’re in the business of making money.” And he’s right. One of the biggest influencers on New Car Dealers’ profitability in 2019 has been the health of their new vehicle inventory. In the latest Haig report, it was highlighted that Franchise Dealer … [Read more...] about Making More Money with the Right Inventory Metrics
Dealership Business
Plan, People and Profitability: A Lesson in Chicken
When a cashier takes your money for your purchase and then sends you off with a deadpan, “have a good one,” how do you feel? On the other hand, Chick-fil-A restaurant’s signature send-off, “My pleasure,” is a big reason it is the most profitable fast-food business in the country. According to an article in Entrepreneur.com, Chick-fil-A “makes more per restaurant than … [Read more...] about Plan, People and Profitability: A Lesson in Chicken
3 Keys to Influencing Indecisive Customers
Regardless of your professional title, we are all in sales, and we all have heard the dreaded words: no, not right now, I’ll think about it, maybe another time; and the like. Sales, as Norman Hall had put it, is an “ocean of rejection.” Face it, every sale is a potential risk to the buyer, and every sale requires the buyer to sacrifice something. It is not hard to imagine … [Read more...] about 3 Keys to Influencing Indecisive Customers
Commission Breath
What is that awful smell? You know, that smell you sniff when you meet a “slick” salesperson? What is the definition of a professional? Is it someone who makes $75,000/year or more in their profession? Are you a professional? You probably have your own definition. How do you become a “pro” in F&I? The first step is to brush your teeth and remove the commission breath many … [Read more...] about Commission Breath
Importance of Whistleblower Hotline as Part of Dealership Comprehensive Compliance Program
No matter the size of your car dealership, it is in your best interest as a dealership owner to put tools in place that protect the reputation of your organization. With each new car dealership employing an estimated 70 people on average in 2019, the best place to start is within your company. Implementing a comprehensive compliance program that consists of regular audits, … [Read more...] about Importance of Whistleblower Hotline as Part of Dealership Comprehensive Compliance Program