Speed Up Your Slow Season
Who says the end of the year has to be a dealership’s slow season? You might be gearing up for a strong tax season in the coming months, but that doesn’t mean business today needs to take a back seat.
Yes, buying a car isn’t necessarily front of mind for everyone this time of year, but getting creative will help you keep the profit pouring in even during traditionally slow sales months. If you’re willing to step out of your comfort zone, you might just stumble upon some profit opportunities to spread the holiday cheer to your bottom line.
Identify Seasonal Needs. Maybe customers aren’t in the market for a new vehicle around the holidays, but perhaps some added peace of mind and protection from out-of-pocket repair bills would look good under the tree. You can solicit your customers to upgrade or renew vehicle service contract coverage you’ve sold them by positioning it as a great gift idea for someone they love. Other seasonal needs like snow tires, routine maintenance and other options could work as well if you have a service facility.
Explore A New Niche. If regular sales volume is low, what do you have to lose by trying something new? Is your dealership located near a large local business, a college, a nursing home or some other community establishment? Perhaps explore partnerships with these types of institutions to offer dealers to employees or students or even assistance for new nursing home residents looking to sell their cars. These are unique opportunities that could strike it big for your dealership in the long haul.
Special Events. Sales, discounts, community events or other one-time ideas could give your business a temporary boost around the holidays. If you plan for these types of special occasions throughout the year, you can budget for any discounts or offers that you plan to present in an effort to offset any impact they could have on your bottom line. Maintaining profitability during a sale or special offer will be key to keep business strong in slower months.
Seek Out Complementary Services. Just like looking for seasonal needs, finding complementary vehicle services for your customers can help you locate some profit even when they’re not in the market for a new car. If you have a shop on site, try out specials on routine maintenance of detailing services. If you don’t have these services on site, you can always try establishing an arrangement with other local businesses that can stand to benefit all the parties involved. The key here is to think outside the box and come up with solutions that fit your business and provide a service to your community that is absent today.