How well do you know your motorcycle buyer? Take this quick test and find out. A sport bike consumer walks in to the dealership. What, on average, is the No. 1 reason why they will select a certain brand of bike? Read more >>
Test time. Put down the eggnog for a moment and see if you can answer these. In fact, let’s do this. Since most of us are already mentally in the holiday mode, let’s make it even simpler. Answer each of these with a “true” or “false.” Read more >>
In the current era of “do more with less,” this idea holds plenty of promise. Take a small stipend from each new unit sale and place it in a “customer service pot.” Then spend that sum at the end of the year on your best customers in a gesture that not only says “thank you for your business” but “when’s the last time you came in to look at the new ABC Brand new unit?” Read more >>
For a variety of reasons, a dealership may find it advisable to sell minority ownership (equity) interests to one or more new owners: a junior partner, a key employee, an outside investor or a family member for example. When doing this, there is a tendency to think of all corporate stock as being the same. If you sell 10 percent of the company to someone that means you sell 10 percent of the stock. Read more >>
There’s always been a rub against the industry that we as a whole are too seasonal-focused and not enough holiday-focused. That we let the “Black Fridays” and other parts inventory-reducing opportunities slip away simply because we’re so focused on the next spring or summer selling season. Read more >>
You’ve survived a generational downturn in sales. Now make sure you’re ready to take advantage of the opportunities ahead. If you’re like many dealers we know, you’ve endured the most significant challenge to your business’ survival to date. You’ve cut trusted staff, shelved long-term plans, reduced inventory and locations, and watched your balance sheet take a body blow. You’ve paid a steep price to keep your business intact while many others have been forced to liquidate. But you’ve made it. Read more >>
Many dealers say word of mouth is their best form of advertising, and social networking sites have heightened that form. While just consistently using social networking sites alone can boost your floor traffic, there’s a way to have more control over how fast the word spreads. Read more >>
I find a portion of the nation’s brick and mortar powersports retailers struggle with multiple issues that hinder sales and sales growth in their stores. Below is a checklist of items that may be in your way of such sales growth. Read more >>
