My clients know that on the business front I’m very conservative. I like to see dealers with money in the bank, good turns on inventory (unit and parts), efficient staffing levels, and solid expense control. Some 20 Group providers always preach selling your way out of problems (but that method typically puts you at risk). Spader is a foundational company, build your business on solid footing and it’s easy to withstand shocks like the current pandemic.
For the last couple of years I’ve been pushing the dealers in my 20 Groups to get their inventories under control and to make sure they have the right staff on the team. The dealers that focused on these items have been able to adapt to changing conditions with relative ease. The ones who hadn’t taken back inventory management from the OEM’s and were way overstaffed are finding it harder to handle rapidly changing conditions.
As I meet with my dealers, I’m asking each one the same question: “What’s one very important lesson that you have learned from this pandemic? Once this crisis is in the rear-view mirror, what will you do differently?”
What’s going to change with you?
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