Are you exploring the possibility of running a car dealership? This business venture can be an extremely lucrative one, and the industry itself will not be disappearing anytime soon.
However, you cannot just jump into owning a car dealership and expect success. A lot of work and planning is required before you can expect any profits to start rolling in. Fail to get it right, and you could end up with a bigger headache than someone that’s broken down on the highway.
To help, here are four tips for running a successful car dealership:
1. The price is right
Pricing is a two-way street for car dealerships. You have to purchase vehicles to sell, then sell these to make a profit. While the perfect scenario from your point of view is to buy low and sell high, this is unlikely when it comes to cars. Sellers will often be aware of the latest ‘book’ prices, so bargains won’t come easy.
It’s the same when selling. Go too high with your pricing, and customers will go to other dealerships in the area. Due to this, ensure your prices are competitive and see if you can make any improvements that will make your products more enticing.
2. Look at the competition
Before making any moves, it is essential you observe the competition. If the local area is packed with car dealerships, you could struggle to find a gap in the market. This is particularly the case if you decide to go with a standard dealership set up.
One solution could be to see if you can go with an original approach. This might be offering luxury cars, for example, or providing customized designs that cater exactly to the tastes of your customers.
3. Car transportation solutions
Even if the local market is a little too busy, don’t be too worried. There is the possibility to expand your range and sell nationally or even internationally.
This is made possible with car transport solutions. Of course, you don’t want to be paying too much for transport. Your customers are also in the same position. This is why you need to find the most cost-effective transport solutions available – and that’s where Shiply can help. This platform helps you to cut delivery prices down by up to 75%. For more information, visit: https://www.shiply.com/car-transporters
4. Get the word out about your dealership
Yes, car dealerships can benefit from footfall and people going past their premises, particularly if it’s got an enviable location. However, a lot more work is required to promote your business and maximize its visibility.
This is the case online. Setting up a website is a given. You should also have social media profiles on the likes of Facebook and Instagram. Another key element for a local business is Google Business Profile.
For the uninitiated, GBP is used to get your business listed on Google. This means your car dealership will show up when people search for it. Moreover, if you fine-tune this listing enough, you could show up prominently when locals make searches such as ‘car dealerships near me’ and ‘local car dealerships.’