MAKING PRE-OWNED FRONT & CENTER Presented by: GART SUTTON.

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Presentation transcript:

MAKING PRE-OWNED FRONT & CENTER Presented by: GART SUTTON

MAKING PRE-OWNED FRONT & CENTER WELCOME! Who is Gart Sutton? Who is GSA?

MAKING PRE-OWNED FRONT & CENTER Why should you be in the pre-owned business? The Five Critical Reasons: 1.Pre-owned sales offer you a higher gross profit potential than new. 2.Pre-owned helps you to increase the volume of your new unit sales. 3.Stocking pre-owned products increases your floor traffic. 4.Selling pre-owned increases your sales of F&I products. 5.Selling pre-owned increases your parts and service sales.

MAKING PRE-OWNED FRONT & CENTER Current Benchmarks (Metric) Total Preowned Gross Profit Margin: Above 20% Preowned–to-new Ratio: Over.5:1 (2 new to 1 pre-owned) Yearly Inventory Turns: 3 – 4 Retailed versus Wholesaled: 75% retailed Actual examples from dealers who are doing a good job:

MAKING PRE-OWNED FRONT & CENTER The Rules of the Game What is the #1 rule of profitability? What is “The Formula?” What does “Market Value” mean? When is it “used,” and when is it “pre-owned?”

MAKING PRE-OWNED FRONT & CENTER The 5 Steps to Profitability Step 1: Acquisition –Where do they come from? Step 2: Appraisal –Rule 1: Always use an Appraisal Form Step 3: Reconditioning –How soon? –How much?

MAKING PRE-OWNED FRONT & CENTER The 5 Steps (cont’d.) Step 4: Merchandising –Display –Accessories Step 5: Advertise and Promote –Promote your business as well as units –What are some effective promotions?

MAKING PRE-OWNED FRONT & CENTER Sales Tips 1.Hire and train an effective sales team 2.Follow a structured sales process 3.Treat the pre-owned buyer properly 4.Clarify sales manager duties 5.Provide goals and incentives 6.Consider a separate pre-owned sales staff

MAKING PRE-OWNED FRONT & CENTER Thank you!! Contact us: Gart Sutton (615)