One of the most successful dealers (and wealthiest too) that I have ever met told me many times that as a dealer you owe your manufacturer market share and it always comes with a price tag on it. He said you had to be prepared to do the following in order to win a share for the factory:
1. Be willing to maximize your floor plan to take as much inventory as they will give you.
2. Be willing to build a large enough facility to house and handle 20% more growth than you expect.
3. Be willing to spend what it takes to generate enough traffic to feed the beast you have created.
It seems pretty simple but it takes a lot of guts and money to do what he advises. Traffic brings more sales volume, more volume brings more market share, more market share brings more profit, and with more profit comes more responsibility to grow.
The market is coming back faster than I have ever witnessed, and these basic points are fundamentals that must be taken into consideration by you before the competition does.
Posted
John Paul Strong
John Paul Strong combines his two decades of automotive marketing experience with a team of more than 150 professionals as owner and CEO of Strong Automotive.
