There are so many different ways to market your small business. Before committing to a certain channel or strategy, you must first determine if the choice has worked for businesses similar to your own. For more traditional businesses (retail stores, car dealerships, restaurants), one of the most effective types of marketing has been media attention. […]
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When you see an article about preparing your business for the holiday season, it’s almost always directed at retailers. The holiday season is traditionally the busiest time of the year for this industry. Their products are regularly purchased as gifts, and they are all the more special when purchased from a small business. For most […]
Auto dealers are always thinking about the future. Every year seems to present a host of new challenges related demand, technology, inventory, or the general economy. But no matter the problem, the overarching conclusion is that dealers must be smarter with their money and get a lot better at what they do if they want […]
The auto industry is undoubtedly going through a number of changes, forcing dealerships to take on new strategies if they wish to stay competitive. These strategies obviously come with a cost but current marketing trends suggest the most popular options are indeed worthy investments. Different customers have different demands, and meeting them has proven to be very rewarding, even from a long-term perspective.
Getting a small business loan to buy a vehicle is relatively easy; getting small business loans for car dealerships can be difficult. If you are in the business of selling cars to others, then you can easily understand the costs of being in this industry. Purchasing quality cars to sell, paying a team of mechanics and salespeople to keep new inventory moving, and dealing with the overhead of maintaining an appealing lot for your dealership all take a great deal of working capital. According to the National Automobile Dealers Association (NADA), total dealership sales reached a whopping $862 billion last year, and the average dealership payroll was $3.8 million. There’s certainly money to be made in this competitive business.