New Offerings Boost Sales and Profits

Posted by Mark Mackson on Mar 13, 2019 5:45:00 AM

Maximizing profits at your dealership has never been more important or difficult given what’s expected to be a tough 2019 for auto sales. Now is the time to implement programs to boost sales, increase profits and cut costs in the face of a slowing economy, rising interest rates and predictions of a significant decline in sales.

Despite last year’s near-record sales, dealer expenses outpaced inflation and NADA said total operating profit declined by 74%. Something has to change.

Earn Every Dollar Possible From Each Sale

Posted by Mark Mackson on Jan 9, 2019 6:00:00 AM

After a year of solid growth in sales that defied predictions of a decline, most analysts are calling for a very challenging 2019 for automotive sales. December was down for most automakers. Economic and political uncertainly coupled with higher interest rates mean that U.S. auto sales could fall by as much as 4% according to some forecasts.

Given the bumpy road ahead, it has never been more crucial to maximize the profit on every sale you make. We thought it would be a great time to repost a piece we did last year about how to make the most out of your F&I offerings

Turn Your Collision Center Into a Profit Center

Posted by Mark Mackson on Sep 12, 2018 6:00:00 AM

Turn Your Collision Center Into a Profit Center

Dealerships that offer collision repair shops have a great potential resource for profitability. With the average collision center performing nearly 30 jobs a week on average, maximizing each transaction can bring sizable benefits and a steady source of solid profit opportunity.

Compelling Products Can Boost F&I Profits

Posted by Mark Mackson on Aug 8, 2018 6:00:00 AM

As F&I becomes an increasingly important part of per-vehicle revenue, it is critical to deliver F&I offerings that customers want to buy. Automotive News says that F&I profits now exceed those on new cars themselves. The top public dealership group, AutoNation, now averages $1,789 in F&I profit per vehicle, and some privately held dealerships are easily outpacing that impressive figure.

Capture More Service Business With the Right Retention Tools

Posted by Mark Mackson on Jul 18, 2018 6:00:00 AM

Keeping your service bays full is critical for increasing profitability and building customer loyalty, and it all starts with an excellent retention program.

There are not Many Ways to Save $1,000,000 Dollars, but there are a Million Ways to Save a Dollar!

Posted by Mark Mackson on Jan 17, 2018 6:00:00 AM

Let me focus on just a few areas where I guarantee, if reviewed, will save your dealership thousands of dollars with little effort.

From wheel weights to toilet paper, from brake cleaners to floor cleaners, from coffee to hand towels, your dealership spends thousands of dollars a month from many, many different vendors and many times the same product from multiple vendors at different prices.

Three Ways to Make Lifelong Customers

Posted by Mark Mackson on Oct 19, 2017 6:00:00 AM

Information provided by Reynolds & Reynolds
Read Time = 1 minutes

There are 860 new car dealerships in Florida, according to the Florida Automobile Dealers Association, and each of them would gladly service your customer’s vehicle. How do you make sure they come back to your dealership?

Bringing in Customers for Recall Repairs

Posted by Mark Mackson on Oct 19, 2017 6:00:00 AM

Information provided by Reynolds & Reynolds
Read Time = 30 seconds

From seatbelts to airbags and more, recalls in 2016 did their best to keep up with 2015, which was a record automobile recall year. The NHTSA requires manufacturers to send notices to vehicle owners, but even so, thousands of recalls go unrepaired every year. These open recalls represent real opportunities for dealerships because customers often have other service work performed when they bring their vehicle in for a recall repair.

Why is my credit card processing statement like learning a new language?

Posted by Mark Mackson on Sep 22, 2017 6:00:00 AM

By:  Mark Mackson, on September 18, 2017
Read Time = 1 minute

If you’ve ever tried reading your monthly credit card processing statement, you know that it was written with so many unexplained acronyms, randomly placed numbers and confusing computations that it’s obvious they don’t want you to understand it.  The reason:  if you can’t understand your bill, you won’t realize how much you’re overpaying and can’t price shop.    Thankfully, once we decode the bill for you, it’s not all that hard to understand…..

Lost Uniforms Cost Dealers Thousands Over the Life of Your Agreement                 Who Lost the Garments and What is the Solution?

Posted by Mark Mackson on Sep 22, 2017 6:00:00 AM

By:  Mark Mackson, on September 18, 2017
Read Time = 2 minutes

Lost garments may be costing you in excess of 10.0% of your uniform rental expenses.  So if you spend $1,500 a month, our industry’s average would suggest you are charged $150 a month for lost garments, flying completely under the radar and showing up on your invoice.

Traditionally, uniform companies do not provide a reconciliation of soiled garments picked up to cleaned garments returned.

Furthermore, some uniform companies use lost uniform charges as a means to offset low unit rates.  Until now, your only recourse is to prove to the uniform company that they are not counting your soiled garments though a manual log process.  Great idea, but how practical is it?