Many people start a Motor Dealership and think as soon as they open their doors, they will start making money hand over fist. Unfortunately, that is not the case. Making money in the Automotive industry is a task easier said than done.
That said, there are ways that your dealership can set yourself up to maximise sales and leverage ongoing growth. Whatever type of Motor Dealership you operate or are looking to operate, using the following eight tips can help you grow a successful motor dealership.
Let’s get into it!
1. Planning Is Key
If you fail to plan, plan to fail. When it comes to achieving success in any industry, there is nothing more important than planning. Before you consider opening a Motor Dealership it is important that you plan and completely understand the industry that you are getting yourself into.
Coming up with a business plan and understanding the ins and the outs of the automotive industry will prepare yourself for the months and years ahead whilst providing you with a foundation to base your business decisions around. The more prepared your dealership is, the more chance you will have of success!
2. Analyse Your Competition
The Australian Automotive Industry is incredibly competitive. Just think about it, there are often multiple dealerships in each suburb. The only way that you are going to be successful buying and selling motor vehicles is by analysing your competition and offering customers something better.
Do some research and see what your competitors are doing, what cars they are selling and more importantly at what price they are selling their cars for. Once you know where you stand, try to give customers something better. Having the best deal is by far the best way to gain and convert customers in any industry.
3. Keep Records
Reporting is an essential part of running a successful business. Recording and keeping detailed reports will let your dealership know where you stand financially at all times. Having strong reporting will put you in a position to make strong, calculated business decisions that leverage future growth and maximise sales.
4. Keep Staff Accountable
Having a successful business is not a job for one person. To run a successful business, you need to have a strong team around you that strives for and achieves better results. To gain success, it is important that your dealership keeps staff accountable.
You should track different performance metrics and implement different KPIs that outlines staff achievement based on your expectations and business goals.
5. Adapt to Changes
The Automotive Industry constantly changes. Think about it, the way that Motor Dealers sold cars pre-covid is much different to the way they sell them today. To achieve ongoing success, it is important that your dealership continues to adapt to changes.
Whether it be economic or customer changes it is important that your dealership stays on top of any new developments and implements necessary changes to build awareness and fulfill on-going lead generation.
6. Stay Focused
A mistake that so many businesses make is loss of focus. When businesses achieve success, many try to branch out into different areas, most of the time this impacts the areas that made them successful in the first place.
To achieve ongoing success in the Automotive Industry it is essential that your dealership stays focused. You need to stay on top of industry trends, customer changes and offer customers something that they cannot get from other dealerships!
7. Think Outside the Box
The only way that you will be able to win over customers is by thinking outside of the box and offering a service that customers cannot get elsewhere. Get creative, think of new and different ways you can sell vehicles. Enhance your buying process, offer flexibility, do anything you can do to differentiate yourself from your competition!
8. Provide Great Customer Service
Last but certainly not least, if you want to be successful in the Automotive Industry you need to provide great customer service. Buying a car is such a massive decision, if a customer doesn’t feel comfortable buying from your dealership, they will go elsewhere.
To set yourself up for ongoing success it is important that your dealership does everything possible to provide the best and easiest buying experience!
There’s a lot more that goes into buying and selling motor vehicles that what is often assumed. To achieve success, you need to prepare yourself, adapt and offer customers something they cannot get elsewhere. The 8 tips presented will help your dealership grow and achieve success in 2023.
We hope you enjoyed reading this article. To read more articles like this, please visit the EasyCars latest news page here.
EasyCars by Jeal is an Australian, web-based, dealer management system that automates the buying and selling of motor vehicles. Using the latest technologies, EasyCars removes frustrations experienced at the dealership and opens your doors for greater growth.
EasyCars features include Simple Stock Management, Automated Advertising, Integrated Accounting, Government Compliance, Business Reporting, Facebook Automotive Inventory Ads, Reviews Management, Dealership Websites and more.
To learn more about EasyCars Dealer Management System or to arrange a no-obligation free demo, contact us today on 1300 473 744 or submit the form below.