Some people will say that I am nuts about knowing the numbers in your dealership and then managing to those numbers to improve profitability. I believe it is important in every department, but today I wanted to share the important numbers you need to track in the sales department. Calculate closing ratio It all starts off with some basic calculations, the first being your closing ratio. Let's say that you kept track for a two-week [...]
An excerpt from Bob's upcoming book, "The 7 Principles of a High Performance Dealership". Is your dealership bleeding? Is it a small cut or is it losing blood by the pint? Perhaps your business is on the brink of losing its life? I meet dealers across the country whose businesses are on the equivalent of life support – struggling each day to simply keep the doors of their business open. The names and locations of [...]
What does it mean for a company to operate lean and why does it matter? If a company is operating lean it means that the overhead a business has is as low as possible and it translates into cash in your pocket. Here are three ways to help your business operate lean - today! 1.Become obsessed about eliminating waste. Eliminate wasted supplies, wasted time, wasted movement; get rid of all the waste! Not only will [...]
Improving Transaction Time in your Parts Department In parts, it’s important to minimize the amount of time it takes to help a customer. Nobody wants to wait in line for 30 minutes or more! Did you know that in the average dealership, the Parts Transaction time is 7 minutes? How does that translate to real time? If you have 4 people in line, that means the last person will wait about 28-30 minutes to get [...]
Sales – Objections and the Trial Close Objections are a natural part of the selling process. I don’t care who you are or how good you are, objections are going to creep in at some point during your presentation. Think about it. All people tend to resist their point of view being changed. Even though they come into your dealership looking to make a purchase, there are still some that need to be convinced that [...]
“Developing a strong service process is what drives quick turn times and strong customer contact in your service department. How you stage, tag and process equipment that comes into the department will impact not only the quality of service delivered but the overall profitability of the department for the dealership. I like to think of a service department like a pit stop in a Nascar race. Think for a moment of how a pit stop [...]
Winner, Winner Chicken Dinner The Game of Dodgeball and What it Says about your Personality I hate losing! So much so in fact, that if you were to ask my brother what it was like to play a board game with me growing up, he would roll his eyes and tell you the stories of how I was terrible of a loser. This wasn't just a pout in the corner. This was quit-in-the-middle-of-the game because there [...]
My passion is to help small businesses succeed. At BCI, it’s what makes our Monday morning meetings fun and full of life. Your success stories are the coffee in our veins on Monday mornings, and there really is coffee running through our veins too. Seriously, you should see how much coffee we go through in a day! However, I know for you to succeed you often have to get through challenges. One of the biggest [...]
The parts department is one of the most complex parts of any dealership. There is the constant balance between having enough inventory on hand to meet the demands of both the service department and counter customers, but not having too much inventory that just sets on a shelf tying up precious dollars. Establishing great processes in your parts department will help set up your dealership for success during season. 1. The Process of Having the [...]
In just about every retail store, you will find endcaps. An endcap is a display for a product that is placed at the end of an aisle. Those products placed on an endcap will sell at a much faster pace than products not on the endcap. By focusing on your endcaps, you can quickly and inexpensively improve the appearance of your retail area and increase sales. So, how do you create an endcap in your [...]
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