Mark Gilbert's career in the automotive industry is a success story of the most classic kind. He started from the ground up, beginning as a salesperson on the floor to becoming a dealer principal in several thriving dealerships.
He understands better than most people about how difficult it can be to start, let alone run, a dealership, including ones that deal with used cars. Some people naturally mistrust the industry that might make it even more difficult. Hence, he has come up with a few tips to help budding dealerships get started.
1. Research, research, research
Mark Gilbert can't stress enough the importance of knowing your market and your industry. Don't think you can start a used car dealership on the fly. Before you can get started, you need to know about the consumers in your area, what they look for in a dealer, as well as the qualities that they trust.
2. Learn your competitors
There are plenty of dealerships in the sea, so to speak, that's why you need to learn your competition. Figure out how they do it, and then figure out how to do it better. See how many vehicles they have, the choices offered, the age of the stock, and, most importantly, their prices. Are you able to compete with them, asks Mark Gilbert? Can you make your offerings more competitive?
3. Develop "the talk."
There's a reason that used car salespeople are known for their ingenious way of talking. The art of the sale is something that has to get developed over time. It helps to be able to read your customers, listen to them, not being pushy, and building a good rapport. Building trust with local customers is a must in the used car industry.
Mark Gilbert stresses that beyond the financial and logistical concerns, a used car dealership runs well when the people in charge know what they're doing and how to do it.
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