January is an ideal time to reflect on and evaluate the prior year. Naturally, we begin by reviewing key financial metrics such as return on investment, year-over-year revenue changes, and gross profit margins. However, it is equally important to assess the non-financial aspects of our businesses—elements that are often taken for granted, yet can be […]
EVERY PARTS MANAGERS FAVORITE COMPLAINT IS, “I DON’T HAVE ENOUGH TIME TO DO XYZ”. Well in this day and age of ‘social distancing’ and ‘essential workers’, most of us have too much time on our hands at the dealership. So let’s not forget about that long to-do list we’ve been putting off forever. Just in […]
Part 1 of this topic discussed what to do if your Parts Manager is a parts person with little training in the art of management and/or the science of accounting. As a general manager/dealer principle it is unfair of you to hire an under-qualified and NOT consider offering him/her proper training. Alright, I can already […]
What’s the difference you ask? A Parts MANAGER is someone who is skilled or has been trained in the art of managing people and resources and knows, at minimum, the basics of accounting. A PARTS manager is someone who was good at working the parts counter and when a manager job came open, got hired […]
Wiper blades? Air Filters? A better question is do you do a good job of selling them? An even better question is how do you know if you’re doing a good job of selling them? If you review these types of “quick service items” the end of the month, you might see that you sold […]
One of the more frustrating parts of what I do is visiting the same dealerships year after year and not seeing a change. I teach them how to get rid of obsolescence, how to improve profitability and have an overall more efficient operation. More often than not though, there are no changes in procedure, no […]
I like to track everything I can. I’m a big fan of having lots of data to sift through. As I’m sure many of you do, I track where my business comes from (i.e. how did customers find me). I bring this up because twice recently I sent emails back and forth with customers, getting […]
Many General Managers/Dealer Principles don’t like to do an annual physical inventory in the Parts Dept because they believe it’s not worth the cost. Those same GM’s insist that that cash drawer/petty cash box is balanced daily. How much is in that cash box? $200? $300? Have you ever done the math on that? If […]
I have been told by friends and mentors that blog posts on your website are absolutely essential for SEO, brand awareness, establishing your business as an industry leader and showing the world how incredibly smart (?) you are. No pressure there! Well this is the first official blog post. So instead of talking about Physical […]