Page 18 - On The Move - Volume 17, Issue 4

Making Money at Car Dealerships?
COUNT THE WAYS

THE SQUIRREL DOESN’T GET ALL OF ITS NUTS FROM ONE TREE

ver the past few months, I’ve had what seems like a recurring
Oconversation with people in my circle of influence. Today, while
prepping some deals that were coming in later in the evening, I sat

down with one of my best salespeople at this dealership, Joe Cleland. By Justin Gasman
He is the inspiration for this column’s subtitle, “The squirrel doesn’t get
all of its nuts from one tree.”

If you are wondering what the heck that means, think of these three words: The factory sometimes has spiffs for achieving certain volume standards, such
Assembling your paycheck. as Mark of Excellence with General Motors. Perhaps selling a GM Card can
provide some earn power points that can be redeemed for merchandise or
I told Joe that I was taught back in 2003 when I started selling cars at the cash in your bank to pay bills or go on vacation. OnStar and Sirius/XM Radio
local family owned Chevrolet-Honda-Pontiac dealership in Boulder, CO, that sometimes spiff for upgrading products your customers are already going to
the key to making it in this business highly depends on your ability to make sign up for.
money. However, sometimes the way we look at the deal
or the sale is too narrow. We forget about the various Be creative. Spend time working on what you will say and
ways there are to make money on a car deal. when you will say it.

I was taught to pretend that the showroom and the I once heard someone say, “If you want what I have, then
dealership is covered in cash, because it is. There is money do what I do.” The problem is, most people, especially
everywhere if you look hard enough. Sadly, some people people in sales, often take the path of least resistance. It
will walk around the store, see a $10 bill on the ground, takes effort, persistence, and discipline to assemble the
and not pick it up. "It takes effort, paycheck you want to have.
persistence,
Simply, all you need to do is take every opportunity to This is why it is important to use your time wisely every
maximize your pay plan. Instead of looking at the sale of and discipline..." day. Always be on the lookout for the next opportunity
the car as a “mini” or the buy rate deal as a “flat,” look at in your store where you can add value. Spend your time
all the numbers involved. crafting your pitch and building your process to perfection.
Feather in all of your income opportunities so that every
Turn over every rock along the way to the sale. You might turn you take with each customer is maximized to its fullest
see a $20 bill under one. You might see $50 bill under potential.
another. Heck, you might make $420 if you get good at
rock spotting. Like the nut-seeking squirrel, gather a little here and a little there, all over the
park, tree by tree. You’ll end up with a fat paycheck.
My point: The commission on the car deal is just the beginning. There are the
F&I spiffs, the parts-department spiffs for accessory sales and the referral Justin Gasman is the financial services director at McCaddon Cadillac Buick
fee for bringing in customers’ neighbors, friends, and family members to do GMC in Boulder, CO.
business with your store. There’s the bounty on the used car you can find to
replenish dwindling pre-owned car inventory.

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