For six months, we have highlighted retailers who have found ways to be successful during these difficult times. These retailers have managed to increase their sales, maintain or expand their retail and floorplan financing and adjust their overhead to stay at least marginally profitable (or hugely profitable in some cases) when most dealers are suffering, going out of business or howling the blues about the business climate.
How many examples are needed before owners realize they can get their dealerships profitable and fun to work in again - even in these very difficult times? It's a safe bet that we talk to more dealers every day than any other company. In these conversations we find example after example of retailers doing well today.
They all have some things in common:
FIRST - They don't see industry "image" or the economy as their problem and excuse. They spend no time talking about these as problems.
SECOND - They don't have a problem with floorplan financing and/or they do have the ability to purchase product outright - either with their own cash or with borrowed funds.
THIRD - They don't have a lack of traffic because they have adjusted their inventory to have what people are wanting to buy - new and used.
FOURTH - They have found the financing they need for their customers with lower credit scores.
If you are not profitable right now, if you have not been recovering your sales volumes this year over last, maybe you need to stop right now and start doing something differently.
There are simple keys to sales and profits in today's marketplace. If you would like to learn more about how you can adapt these techniques to your business, go to the May Training Schedule at the bottom of this Newsletter and register for any of our Free On-line Training Programs. If you would like to talk more specifically about the issues you are facing in your business, call us for a free consultation at (800) 336-0339.