Service Advisors

Pain Point: Salesmanship in the Service Lane

Resolution: Service Writers

Your hot-shot salesmen might parade around the showroom in starched shirts with French cuffs. But your biggest-grossing employee might be on the job long before the showroom doors open.

High-performance service advisors keep everyone in the store busy. Unfortunately, far too many employees in the service lane are masters of the profit-killing “one-line repair order.”

Before you fix another vehicle, fix that problem. And in the video right below, you’ll see how.

For more information, download our Service Advisors PDF.

Used Vehicle Turn

Pain Point: ROI: Really Old Inventory or Return On Investment?

Resolution: Used Vehicle Inventory Turn

What does a dealership have in common with the produce section of a supermarket? Both want only fresh inventory.

Brown lettuce and mushy tomatoes are money losers. It’s the same with old inventory on your used car lot. The longer the vehicle sits, the more likely you’ll have to heavily discount it — just to get rid of it.

In the video you’ll learn about how to improve the pace of the “turn” of your used inventory and your return on investment at the same time.

For more information, download our Used Vehicle Turn PDF.

First Time Fill Rate

Pain Point: What’s Your Parts Department Batting Average?

Resolution: First Time Fill Rate

In baseball, a player’s batting average is a key measure of success. Anyone hitting .300 is performing way above average. Only 23 players batted .300 or better in 2010.

But while a .300 batting average is terrific in baseball, that would be an awful performance for your parts department, one that would not only be a profit drain but make for a lot of unhappy customers.

In the video, you’ll learn how to measure your parts department batting average and how to spot clues that it could be doing a lot better.

For more information, download our First Time Fill Rate PDF.

Internet Structure

Pain Point: Restructuring for Online Sales Success

Resolution: Internet Structure

Car dealerships have been operating for more than a century. There’s a wealth of knowledge about how to organize the store to succeed in the physical world.

But what about the virtual world? The Internet created a whole new game, one that constantly evolves and involves a lot more than your website. Is your team organized to play? Do you have people to fill the new positions on the field of play?

In the video, a leading expert discusses restructuring your store for online success.

For more information, download our Internet Structure PDF.

Vehicle Receivables

Pain Point: Cash Clot. Financial Defibrillator Needed.

Resolution: Vehicle Receivables

Clogged arteries slow down blood flow and lead to heart attacks. What’s true for the human body is true for dealerships where the lifeblood of the business is cash.

When a dealership’s financial arteries get clogged that slows the flow of cash into the store and could put the business on life support. Dealers have eight vital signs to monitor their financial health.

The video discusses the dangers posed by one of them and offers a prescription for treatment.

For more information, download our Vehicle Receivables PDF.

Brand Management

Pain Point: Is Your Reputation Getting Hammered Online?

Resolution: Page One Management

Reputation. It takes years and untold amounts of money to build a solid reputation. But only seconds to lose it on the Internet.

Brand damage usually refers to a product in crisis. But in the case of dealerships, the brand is the dealer’s name. It’s easy for dissatisfied and disgruntled consumers to go online and attack dealers. Nobody’s perfect and everyone makes mistakes but dealers put their dealerships in peril if they don’t defend their reputations online.

The video describes some of the challenges and solutions.

For more information, download our Brand Management PDF.

Shop Proficiency

Pain Point: Why You Should Close Your Back Parts Counter

Resolution: Shop Proficiency

Shutting down your back parts counter may sound drastic but some dealers have done it with good results. They include more efficient — and profitable — parts and service departments.

The origin of the adage, “Time is Money” can be traced to the ancient Greeks. The modern variation of that phrase for dealerships would be “turning clock hours,” which is the key to profitability.

The video shows how to spin the clock a little faster.

For more information, download our Shop Proficiency PDF.

Service Department Expenses

Pain Point: The Dollars and Cents of Nuts and Bolts

Resolution: Cutting Service Department Expenses

A highly profitable service department saved more than a few dealers during the economic downturn. Once considered the back end of the business, it’s now the backbone of a dealership.

Two signs of a successful service department are busy techs and a steady stream of vehicles into your service drive. But just as important as increasing service revenue is keeping a lid on expenses.

The video offers several ways to do just that.

For more information, download our Service Department Expenses PDF.

E-Contracting

Pain Point: How to Stop Chasing Cash Every Day

Resolution: E-Contracting

Some of today’s dealerships opened their doors in a bygone era — selling horse-drawn carriages. Unfortunately, some dealers are collecting receivables at about the same pace as the horse and buggy era.

Today, we live in a tweet and text-message world. Failure to quickly collect vehicle receivables leaves many dealers in the frustrating and uncomfortable position of chasing cash every day.

Dealers need to collect at Internet speed, and the video points the way.

For more information, download our Cash Flow E-Contracting PDF.

UNICAP

Pain Point: New IRS Ruling Benefits Dealers

Resolution: UNICAP

The IRS decided that dealers don’t have to capitalize certain costs and can instead “expense them.” In a major victory for car and truck dealers, the IRS has created two safe harbors under its uniform capitalization, UNICAP, methods of accounting. The IRS decision favorably resolves several contentious and costly income tax issues. When some IRS auditors re-interpreted UNICAP 5 years ago, the affected dealers’ tax bill rose more than $100,000.

Watch the video explaining that most dealers will no longer face such exposure under the new IRS ruling.

For more information, download our UNICAP PDF.