Dealer education leads to increased profits
July 8, 2011
Filed under From the Editors
Sometimes it seems there is an odd juxtaposition in our industry. Same store sales have been up for 10 months straight over the year-ago months, according to data provided to Powersports Business by ADP Lightspeed, yet we still talk to dealers who say the economic recovery has yet to affect them.
In a recent survey conducted by Powersports Business and RBC Capital Markets, 41 percent of dealers said they were more optimistic about their business outlook compared to six months ago, and 44 percent said they’re seeing greater customer interest, yet only 32 percent said their profit margins are better than a year ago. (For more on this survey, check out the next issue of Powersports Business.)
If you’re a dealer who isn’t seeing increased traffic, sales, or profits, what can you do? A resounding answer from OEMs, manufacturers, distributors, consultants and others in the industry has been education. Education and training have been stressed more and more often as dealers learn to live with what has been coined “the new normal.”
Profit Xcelerator, Powersports Business’ Conference and Expo, is a unique opportunity to find that education. The event is focused on teaching dealers how to increase profits and market to customers. The event is a great push for dealers who are struggling, but it’s also beneficial to industry veterans and longtime 20 group members, as we’ve learned from talking to numerous dealers who have attended the event in the past.
If you read Powersports Business, our e-newsletter and/or the Industry Insiders blog, you’ve likely heard about the event. But do you know what Profit X can do for you? Looking at the agenda, there are sessions for every dealer — big or small, Harley, metric or multi-line, American or Canadian.
Have you been discounting too much? Don Cooper will teach you how to break that habit and begin charging more for your vehicles, therefore reaping more profits. Can’t bring in enough customers? Sam Dantzler will show you how you can work with your database to find new sales from customers who have purchased from you in the past. Wondering how to navigate the latest F&I rules? Peter Jones will demonstrate how a dealership should manage F&I and avoid costly fines. Interested in what other dealers are doing to be successful? A panel of your peers will share their most profitable secrets that you can take home with you.
There are also several other sessions, bonus education on registration day and an expo hall full of industry companies looking to help you succeed.
Profit X, as we’ve learned from many dealers, is worth the investment. If you’re coming, but haven’t signed up yet, register here.
And if you have any questions, read the magazine, check out the Profit X website here and browse the brochure. If you need any more information, never hesitate to call me at 800/848-6247 ext. 413, or email me at firstname.lastname@example.org, or contact senior editor Dave McMahon at 800/848-6247 ext. 411 or email@example.com.
We look forward to seeing you Sept. 25-27 at the Red Rock Resort Casino & Spa in Las Vegas!