William Cafarella is an expert in the car dealership industry. He has a history of running dealerships to the top. Cafarella ran the largest Honda store in the nation, the largest Volkswagon store in the nation, the second-largest Toyota store in the nation, and now is currently running the largest Nissan dealership in the nation. He recently offered his top tips for success as the owner of a car dealership.
“I’m very particular about processes,” William Cafarella said. “I’ve created a successful process that I implement throughout all departments. With all departments on the same page and working toward a common goal, we see great success.”
William Cafarella explained that owning a car dealership isn’t guaranteed success. Becoming profitable requires countless hours of dedication. He explained that an essential part of car dealership success is understanding your market. The market in Los Angeles will be drastically different from the market in Detroit, Michigan, and Jackson, Wyoming. Fully understanding your region and the demographics can help you understand which vehicles to keep in stock. For instance, if you’re in an area with a lot of snowfall, keeping four-wheel-drive vehicles in inventory is necessary.
“I always implement sales goals,” William Cafarella said. “However, I make a point to make these sales goals lofty but attainable.”
William Cafarella explained that he likes to establish sales goals for all departments. However, it’s essential not to make these sales goals too easy or difficult to obtain. He explained that numbers could be fulfilled from the CRM every month to understand better how sales reps are doing. A single lousy month doesn’t mean a salesperson is not up to par, but it can mean that you may want to have a conversation with them. William Cafarella explained that long-term incentives, formal training, and talent management practices could be the difference between a successful sales team and one that struggles.
“Finally, it’s essential that your customers remain loyal,” William Cafarella said. “This means that customer service must be the top priority.”
William Cafarella explained that once you win someone over to purchase a vehicle at your dealership, you don’t want to lose them. Dealership owners can keep customers engaged with certain advertising practices, newsletters, coupons, and more. Your relationship with the customer doesn’t need to end when they purchase a vehicle, as they can continue to bring that vehicle to the service department, and you can profit even more.
“Running a successful car dealership is no easy task,” William Cafarella said. “However, with a dedicated team and a commitment to success, you can enjoy all of the benefits that come along with running a top-notch ar dealership.”