Most people view the car dealership business as a ruthless and cutthroat environment. The truth is, it’s more of an “every man for themselves” type of job. You need to find your niche and then leverage that knowledge into success. If you’re looking for some tips on doing just that, this article will give you some tips that will help you thrive in the business.
Know the Business and its Players
Any good business person knows that to succeed, you need to understand the business. There is a natural pecking order in the car dealership business. Understanding who you’re up against and what they’re after will give you an advantage when it comes to gaining any concession from them.
To do this, you need to know car shipping quotes in your area, how car dealerships operate, and who is essential in helping you get ahead. It would be best if you started with your immediate manager because, quite frankly, they will be the ones getting your sales goals accomplished. Your dealership manager sets goals and objectives for you and will help you achieve success by providing the proper tools and training to do your job.
The dealer principal is the one with the most pull; their word is final and should be respected as such. Sales managers are next in line; they have more pull than the sales staff but shouldn’t be looked at as a roadblock. The General Sales Manager holds even more sway but is still not on par with a dealer or sales manager.
Be Organized and Always Prepared
One of the best things you can do for yourself is to be organized. This means keeping track of your inventory, keeping up with all correspondence, and being on top of any changes in dealership policy or procedure. Be discreet with any information you are privy to because it could come back to haunt you. Your sales manager is only as good as the information they have, so give them all the tools they need to succeed.
Always be on time for your appointments and meetings. Be prepared with any bonus items like gifts or complimentary cards. These little things will go a long way when getting a price concession from a sales manager.
Take Care of Your Customers
Your customers are your number one priority. You should always be mindful of this and treat everyone with the utmost respect. Giving them value for their dollar is essential if you want to succeed in the car dealership business. If you can’t offer them something they feel is valuable, don’t try to sell them. It’s as simple as that. Your time would be better spent accommodating their needs in a productive and timely manner so you can move on to the next customer who may be able to better afford that upgrade.
In addition to being a great negotiator, you should always be thinking long-term with all of your customers. You may have received a discount from that customer’s sales manager, but make sure you look for occasions where you can give them something back. For example, selling them on an extended warranty or tire and wheel protection plan will go a long way in keeping them coming back.
If you’re too focused on what your competitors are doing and not enough on the customer experience you provide, you will be in trouble. You can’t compete with that guy or gal who has a knack for selling. Try to find your own knack and method for selling rather than always comparing yourself to other representatives, and strive to do the best you can with the skills you have.
Understand How to Make Profit
Making a profit is essential if you want to be a successful car dealer. If you’re not making a profit, then your main competitor, the manufacturer, will quickly replace you with someone who can generate more revenue for them. You need to understand where the money comes from and how you make it.
Learn everything about your net profit dollars. Calculate this metric every time you close a deal. Get to know your numbers well enough to forecast what these dollars will look like in the upcoming months. It helps if you have an electronic tool at your disposal. You must completely understand how your dealership makes money, find out everything about cost centers, gross profit dollars, your bottom line, and even a dealership’s bottom line.
A successful dealership can adapt to the ever-changing automotive industry. Dealerships are in a constant state of flux, but with some creativity and an entrepreneurial spirit, you can thrive despite any obstacle put in your way.