The accessory industry is a multibillion dollar industry, virtually untapped by automobile dealerships. People love to express themselves with the vehicles they drive. Many seek out a certain look and strive to be different than the average Joe. While dealership groups seek new revenue sources, one might wonder why they overlook this exciting, fun and lucrative opportunity. Not only does accessorizing add significant revenue, but there are several other advantages as well. Accessorizing limits your competition by making your vehicles unique. Accessorizing adds sizzle to the showroom, shows dealership distinction, offers clients more choices and is a great reflection overall CSI.
There is no better time for a client to add accessories then at point of sale as they are still in the “Christmas shopping mode” and their excitement level is at its peak. The traditional F&I procedure is known to all as it has been in place for decades and has not really evolved. Not only that, but clients can usually put the extra dollars spent on accessories into their monthly payment, increasing finance reserve. If you do not offer accessories and the customers want them, they will find them elsewhere.
While there are only a handful of dealerships and their clients that have benefitted from dealers embracing the accessorizing concept, it has become a culture in a few successful dealerships. As an active member of SEMA, I see numerous dealers attending the SEMA convention in Las Vegas each year and getting excited at that moment, then they go back and it’s business as usual. As an experienced professional that shows dealers how to succeed with accessories, my explanation is such. Either most dealers are reluctant to change, they possess a fear of the unknown, or a few may have actually tried selling accessories and had lackluster results.
I would suggest a dealership retain an experienced expert and tailor the program for their particular stores and franchise lines. This will also assure they offer and stand behind only the finest, most compatible products on the market.
To truly dive in and be successful, the dealership must take this opportunity seriously from the top down. I have built accessory departments at some of the most discriminating dealerships in the nation and all they needed was some product knowledge relative to their franchise line, a definitive process, and system, as well as a little training from a seasoned professional to avoid speed bumps or any casualties.
Who and when should offer the accessories? That has always been the most significant issue. While there are accessory tools like online programs and tablets, having a dedicated, trained professional on site will prove most effective. Once successful, a productive dealership will wonder why they did not embark on this venture years ago.
In today’s age when gross is shrinking, competition is fierce, clients have limitless information available to them at the click of a button, creative dealerships need to be different and knowledgeable about selling accessories. Good luck to all dealerships with this wonderful way of adding huge revenue and all the fun and glory that comes with the package.
Dealers are welcomed to contact me at [email protected]m for additional assistance to drive this entire concept through the roof. Fasten your seat belts.0