PowerSports Profit Secrets -six ways for powersports dealerships to increase profits.

I am constantly astounded by the number of Powersport dealers that are satisfied with how things are – they aren’t interested in increasing profitability. They’re the ones that do things the same way, year in and year out and watch their company take its own course depending on how the season goes. Downloading this report suggests to me you are not satisfied with how things are – you want to grow your business!

Increasing profits isn’t something that’s done in the blink of an eye – there are no silver bullets! It is likely you will have to make changes. Some of the profit secrets we are going to suggest represent evolutionary change – they will be the easy ones to implement; others represent revolutionary change – they will be met by long faces and resistance by your staff. Be prepared.

The following is a list of six not-so-secret secrets we have learned from personal experience and from interviewing hundreds of dealer principals and business managers. They are used by many Powersport dealers, just like yours to increase profits and overall success.

The Secrets...

1) Create a Business Office

When is the time right to start a business office in your dealership? If you want to improve customer service, increase customer retention, and raise profits, the time is now. Setting up a business office is not about taking your valued customers into a dingy office where someone dressed in a blue polyester suit rams a bunch of crappy products down their throats. It is about looking out for all of your customer’s needs. Business offices help customers get better rates than they could from their own bank; they identify important insurance and warranty issues customers may not have considered; they show customers innovative protection products and maintenance programs that will save them headaches and money.

Here are a few things to consider of when setting up a business office:

1) Staff it with people that can relate to your customers and understand and believe in the products, 2) brokers may be easier in the short term but remember, their focus is on the present deal not in creating long term customer relationships, 3) use quality, not quantity as guide when selecting F&I products, 4) ensure your business managers and sales staff are trained on F&I products and selling techniques, 5) consider using a Menu Selling approach from the onset (as opposed to bringing it in later) – it will be easier, 6) locate your business office in a well appointed location, close to the sales floor designed to put the customer at ease, 7) use the services of a business consultant to set up your business office.

For the entire WhitePaper click on the Request Download button. 

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