If you’re like me, you’ve seen a lot of discussions recently about surviving in a down market. You’re probably taking every good tip you can from blog topics like, “Five no-cost ways to make your store more profitable.”
Times are tough; we’re all searching for ways to grow despite the challenges. So, here’s one more tip to fill your bucket: Take a look at the “I” in your F&I department. Are you offering the one product the customer almost always needs before riding away on a great new unit?
Cycle insurance isn’t sexy, but it is protection for your customers. Just as importantly, it’s required by law in most states. It doesn’t only protect your customers, it also helps ensure they continue to come back to your dealership for a new unit if — or as the old adage says “when” — they experience a loss.
So that being said, why wouldn’t you want to add it to the menu in your F&I office?
In visiting with many dealerships over the past several months, I’ve interrupted my fair share of card games, ”Just killing time until the season breaks,” I’m told. So, why not put the cards down and create a new opportunity for your dealership in time for riding season?
If you don’t already have a licensed insurance agent on staff, why not take this time to study up and become one, or have your finance manager do so? There is plenty of time before the weather breaks to put this strategy in place.
Some of the most successful motorcycle agents are located in dealerships.
Add a significant revenue stream that will pay dividends all year long.
After all, this strategy can result in additional dealership traffic as the insurance agent/dealership personnel can provide customers with additional reasons to visit the store.