What’s Your Dealership Really Worth? The Service Department Impact
Most Dealership owners and Service Managers don’t fully grasp how your Service Department directly impacts your Dealership’s overall value. This isn’t just financial jargon…it’s about understanding the real worth of your business. The 8x Multiplier Every dollar your Service Department makes or loses is potentially multiplied by factor of 8x when determining your Dealership’s worth. […]
Economic Downturns: What Dealerships Should Not Do
Dealership pre-tax profits are down 33%. It’s a significant hit, and it’s got a lot of Dealerships worried. But what concerns us isn’t the decline itself – it’s the potential for Dealerships to repeat costly mistakes we’ve seen in past downturns. The Costly Mistake of Panic Cutting When profits take a nosedive, there’s a knee-jerk […]
Unlock Hidden Profits: Tapping Customer Niches in Your Service Drive
The automotive industry is facing a significant challenge: overlooked customer niches. These untapped markets are costing dealerships serious money, but together, we can turn this around. The 14-Year-Old Goldmine Here’s a stat that’s changing the game: the average car on the road is now 14 years old. This isn’t a problem…it’s an opportunity the industry […]
Your Dealership’s Economic Survival Plan
Let’s talk about something most Dealerships don’t want to think about…economic downturns. They’re coming, whether we like it or not. The real question is: are you ready? The State of Dealerships Today Most Dealerships are one bad month away from serious trouble. Why? Because they’re stuck in old thinking patterns. All eyes on moving metal, […]
The Financial Crisis in Fixed Ops: Why Service Managers Are Set Up to Fail
Most Service Managers can’t read a financial statement. Yeah, you heard that right. The person running your Service Department, often the backbone of your Dealership, probably doesn’t understand the numbers that keep your business alive. This isn’t just a problem. It’s a crisis waiting to happen, especially as Fixed Ops becomes more critical to Dealership […]
Rethinking Service Department Culture: Beyond the Happy Hour
Let’s talk about culture in your Service Department. And no, I don’t mean ping pong tables or pizza Fridays. I’ve been in this business a long time, and I’ve seen countless Dealerships get culture all wrong. They think it’s about making everyone happy, ensuring everyone gets along, or creating a “fun” work environment. But here’s […]
Embracing AI in the Service Drive: A Game-Changer for Dealerships
Today, we’re diving into a topic that’s creating a lot change in our industry – artificial intelligence. Now, I’m not here to tell you that robots are taking over. Instead, I want to share how AI is becoming an incredible tool that’s enhancing our Service Departments and making our jobs easier and more effective. AI: […]