Dealership Corridor
Innovation is one of those buzz words that has, frankly, been overused lately. While once reserved for scions of industry like Henry Ford and Eli Whitney, today the concept is applied to any new product modification or brand positioning. But without true innovation – and the people who are driven every day to invent the next new thing – we would miss out on a lot of great ideas.
I love fall! As a native Midwesterner, I find that the crisp air and fall colors bring a sense of energy and enthusiasm for all things outdoors. But as a CPA and reinsurance expert, this time of year also brings another type of enthusiasm for some of us – it’s the time for strategic financial assessments and evaluations and aligning them with our short and long-term business goals.
For retail automotive dealer principals, fall means more time spent on number crunching (versus leaf crunching) to get a clearer picture of their actual personal wealth positions. Given the challenging business conditions this year, taking a closer look at those key positions is an important strategic move that could prove beneficial in the long run. Let’s look at a few factors that will impact overall wealth positions.
In the fast-paced world of automotive sales, it’s easy to focus solely on numbers: how many warranties were sold, how much profit was made, and whether or not we can offer a cheaper price than the competition. However, if your view of a warranty administrator is limited to just selling products, you might be missing out on a crucial aspect of their role that could significantly impact your dealership’s success.
A warranty administrator should be more than just a conduit for selling warranty products. Their role is multi-faceted and vital to the overall health of your dealership. Here are several key areas where a proactive warranty administrator can make a difference:
