Did you know we have about 139,278 registered car dealership in the US as at November 2017, which has also made this business niche more competitive.
Often time I have always heard people ask this question if it’s possible to work with multiple car dealership in a particular city? Oh! Guess you are trying to answer the question yourself, but the big question is, is that really possible and can having a different car dealership in one city makes you focus and give your best.
Just grab a cup of coffee and relax as you take a ride with me. I am about to share some real-life satiation that will help you answer the question of having multiple car dealerships in the same city.
A real-life story that will change your mindset am not going to take your time giving the full story about my recent discussion with a car dealer in Texas but I will let you understand what was his view in having multiple dealerships
‘’When I went to him and I told him I wanted to focus and give him an amazing result and I promise I won’t work with any other dealership in the city. And the question he asked me was, why will I want to do that? then I said to him I would compete with myself and I won’t do the best I could possibly do.
Hear what his response was ‘ you don’t really need to compete with yourself because different dealership has different market and different people they market too he further explained that he was selling 80% of his car to spending people that are people from different countries and he sell specific cars to them like trucks, that was his main market.
His conclusion on working with multiple dealerships, you can work with other dealers because every dealer has a different market, different types of cars they are trying to sell.’’
3 BASIC FACTORS YOU NEED TO CONSIDER WHEN CHOOSING MULTIPLE DEALERSHIP
1. Your market
2. The clients you are working with
3. Dealership to use for different clients
WHAT YOU NEED TO KNOW WHEN SEARCHING FOR DEALERSHIP
You need to understand that every dealership is unique and they are trying to get a different type of customers, it’s very important you segment your dealers to be able to serve different customers.
1. You need to find out their market
2. What are their financing system
3. The kind of cars they sell ( model or high mileage)
4. Do they approve buy credit or not
5. Do they accept any initial deposit
HOW TO SEGMENT YOUR MARKET
Market segmentation is very important this will help you understand your client and help you serve them better.
Tips to create a buyer persona
· What are their age group
· What is their purchasing power
· Colour of cars they will love to buy
· Are they within the state or outside
· Families or individuals
Two Major Market You Can Target
Basically, we have two types of market that existed;
· English market: this market is mostly students and people from the US. The English market is highly competitive because most marketers target English speaking people who live in the US.
· Hispanic Market: is a huge market that brands are still struggling to effectively tap into. the spending power of the Hispanic population is at its highest point, the Hispanic market is mostly immigrants from Latin countries targeting this market is cheaper because it has less competition very few people target clients outside the US.
Now you understand the reason why you can work with multiple dealerships in your city. I have a special FREE training how I built my agency from scratch to $40,000 per month.