Preparing Your Dealership for the New Year

Do you know all the steps you should take in preparing your dealership for the coming year? When you take Dealermarket's advice, you can seamlessly transition into the new year without hurting your operational efficiency or profits. To prepare for the coming year, stock up on all the supplies you need and consider implementing new strategies.

Keep reading to discover how everything from performing a market analysis to incorporating the right CRM systems can help make your next year your best year in business. We have all the supplies you need to thrive.

Your first step in preparing for the new year is performing an inventory audit. If you have gaps in your supplies, your staff won't have everything they need to serve the customer and you may spend more money scheduling a rush delivery.

Ensure you have enough of the following supplies to meet peak-hour demands:

• Forms: Don't overlook the importance of forms. They're essential for organization and communication, so both your employees and customers know what's going on.
• Printing components: Without a fully functional printer, you can't print receipts, forms, and everything else you need. Ensure you have enough ink, paper, and ribbon.
• Advertising and reminders: Remind your customers that they need oil changes and tire rotations, so they schedule service frequently.

One essential step in preparing your dealership includes assessing your performance from the previous year. Start with a financial review, which should include the following:

• Reconcile all banking discrepancies.
• Prepare year-end adjustments for outstanding balances.
• Pinpoint uncollectible balances and write them off.
• Identify and report unclaimed property.
• Document chargebacks.
• Start preparing your tax documents.

These dealership strategies should give you an overall view of your financial performance. Strategize improvements and set clear, quantifiable goals for next year.

You should also perform a compliance check. Falling out of compliance can result in serious financial penalties and damage your reputation.

Finally, explore customer-centric strategies that will deliver long-term returns from your resources. These can include tailored offers and improved communication.

Operational efficiency not only keeps your customers satisfied with your service, but it also helps your employees take pride in and enjoy their jobs. When workers feel frustrated or stressed about the workflow, their performance reflects their mood. To prepare for the new year, your management team should discuss ways they can streamline your operations.

Organization relies on maintaining an ample stock of supplies, practicing clear communication, and utilizing modern technology. For example, if you're not satisfied with your customer relationship management software, consider the new year an opportunity to switch. Determine whether a new printer would avoid downtime or excessive waiting.

Once you identify areas for improvement, prioritize staff training. Your employees will feel empowered and appreciate learning new procedures.

When you're preparing your dealership for the next year, consider starting strong with a high sales volume in January. When you prioritize early profits, you can better weather the slower times of the year. How can you entice customers to buy cars in the new year?

• Consider running a New Year special.
• Send your customers a Happy Holidays card.
• Stock up on winter supplies like ice scrapers.
• Reduce prices on vehicle models from the previous year.

Remember that you're more likely to retain customers if you can act like a one-stop shop. When they can buy cars, schedule maintenance and service with you, and purchase accessories in one place, you won't worry about losing them to your competition.

Dealermarket has all the supplies and expertise required to position your dealership for success. We're a comprehensive provider of supplies ranging from oil change stickers to printers and accessories. If you want to know "How to prepare my dealership for the new year?" we can help so you can gain the advantage.

When you're not worried about whether you have ample stock, you can conduct your business with confidence. With new year dealership planning, you can prioritize growth. For help preparing your dealership for success in the new year, call (844) 888-8100.