There are many car dealerships across the UK, but only a handful of excellent dealerships exist. A good business needs to attract customers and keep a solid reputation in the trade. Read on for four tips on how to build a better car dealership.
1. Set Your Targets
You need to be clear on your sales goals from the outset. It is not enough to say you want to sell cars and make a profit. You need to pick stronger and clearer goals for your business growth. In fact, your goals should be SMART goals, where S means specific, M means measureable, A stands for attainable, R stands for realistic and T means time-based. These elements together can create a strong goal, so think of a specific aim that can be measured and put a time limit on it.
2. Know Your Customer
You need to be aware of exactly who your customer is. Think about the usual demographics of your customer base: are they single people or families with children, young or older, professionals or working class? Once you have decided on your main customer, you can decide which cars will sell best and how you can target the buyer.
3. Study the Market
You should know your business area inside out and understand the demographics of your geographical area. One area to consider is the weather in your area. If summer is coming up, you could stock up on open-top cars and “fun” vehicles; if it is nearly winter, consider trucks and four-wheel drives. Also consider the type of area you are working in economically and the tastes and bank balance of your market
Another factor to think about is motor trade insurance. If you have been asking where can I find a quote for motor trade insurance, there are lots of options online and companies that can help you search for the best quotes. You should also consider trade license plates. You are eligible if you are a motor trader or a vehicle tester.
4. Know Your Popular Cars
It goes without saying that you should know the most popular car makes and models among your customers. When you know this, you can decide which cars to stock and which ones will sell. This can make all the difference between profit and loss in the motor trade industry.