Deptford Honda Yamaha – Deptford, N.J. – Dec. 27, 2010

DEPTFORD HONDA YAMAHA

CONTACT

Deptford Honda Yamaha

1300 Clements Bridge Road

Deptford, N.J. 08096

856/848-8500

www.dhy.com

OWNERS

Donna Coryell

BUSINESS PROFILE

This New Jersey dealership was opened in 1980 by the parents of current owner Donna Coryell. The couple started with Honda and added Yamaha in 1989. In 2000, Coryell bought the dealership from her mother. The dealership has moved twice in its first 30 years, and it expanded from 8,000 square feet to 22,000 square feet in 2006. “The powersports business in between 2000 and 2005 was growing at a pretty rapid pace,” General Manager Brian Moore explained, “and we needed to expand to catch up with that pace to carry all the models and the different colors of the models.” As a family run business, the dealership has a friendly atmosphere. “We have knowledgeable staff, great inventory and a lot of inventory,” Moore said.

GREATEST CONCERN

The greatest obstacle Deptford Honda Yamaha has faced of late is the lack of consumer financing. “The financing is very tough right now, getting people approved,” Moore explained. In addition, fewer customers are seeking credit because they can’t afford payments. “My other concern right now it’s the unemployment rate,” Moore said. “You get a lot of people that say, ‘I’d like to buy right now, but I’m unemployed or I’m only working two or three months.’” The primary cause of the downturn in sales at the dealership has to do with customers not being able to commit to buying. “People still want to have fun,” Moore said, “but you’ve got to take care of the basics first.”

WHAT’S HOT

The types of vehicles selling in New Jersey have largely to do with the weather. “In the month of November, it’s mainly the ATVs and dirt bikes,” Moore said. After the cold months subside, motorcycles rein supreme. “Mainly then it flips over to the street bikes, either the cruiser or the touring bikes, sport bikes,” Moore said. From Memorial Day through June, PWC also are popular. “Our store here definitely changes with the season,” Moore explained.

CUSTOMER BUYING TRENDS

More customers coming into the dealership are looking for the best deal they can receive, and they’re doing their research before dropping by. “I think a lot of them are looking for value,” Moore said. Because so many customers are looking for a bargain and not a specific model, 2008-’09 new noncurrents have been popular. But before they stop in the store, many browse the Web first. “We are getting a fair amount of online shoppers that are going on our website and are looking online,” Moore reported. After the customers shop around online, they do tend to come into the store. “They’re looking for a good product at a great price and great financing,” Moore said.

PARTS AND SERVICE

Deptford Honda Yamaha’s service department boasts of its unique and quick work. The shop has four technicians and two motorcycle builders. “We have an in-house machine shop as far as a boarding, machining, doing cylinder heads, valves and all that,” Moore said. In addition to the more elaborate projects, the dealership also does quick-fix jobs in a timely manner to get customers in and out at their convenience. “On most jobs, no appointment’s needed,” Moore said, explaining the service model is run like that of many automotive dealerships. “It just makes it an easy, convenient service to not have to wait,” he added. The service department has promotions that focus on tire rotations and pricing specials, especially during the slow winter season. The dealership’s parts and accessories department is proud of its wide selection and successful restocking program. “Our parts department has been pretty aggressive,” Moore said, explaining its sales have decreased, but not to the extent of the industry as a whole. “We’re successful here. We do a good job,” he said. The PG&A department carries more than 700 helmets and OEM and aftermarket parts and accessories. It’s promoted through direct mailers and the dealership’s website.

PROMOTIONAL HOME RUNS

The dealership found promotional success when it chose to multiply its number of events. “In the past, we were doing three or four events in a year. Now in the past year and a half we’ve done one or two events a month,” Moore said. The events range from discount sales to entertainment. In early December, the dealership held its “Midnight Madness” sale, which included discounts on vehicles, parts and accessories and service. Deptford Honda Yamaha also holds a Black Friday sale, hosts an annual open house and participates in Yamaha’s Hot Winter Nights event. In October, the dealership invited a freestyle biker to perform stunts outside the building. “It was something different that I don’t think any other dealer in our area has done,” Moore said. “It basically stopped traffic in front of our store.” The goal of the events is to get current and former customers back into the dealership. “We just felt that it was getting right to the core of customers, the people that already purchase from us,” Moore explained. During the events, parts and accessories and vehicles are on special discount. Customers also can spin a wheel to receive additional discounts, and there are giveaways at each event. “We’ve increased the floor traffic,” Moore said. “We haven’t seen the payoff in our pocket, but we haven’t seen the falloff in parts sales and accessories sales that other dealers have.” Each event is advertised using newspaper ads, consumer magazine ads, radio ads, cable TV programs, on the dealership’s website, via Facebook or a combination of several outlets.

WORDS OF ADVICE

“Just try to have the best day that you possibly can, just keep the focus on business and keep focused on the future,” Moore said. He said honing its vision is a daily goal for the dealership. “We try to focus on everyday business and try to focus on what’s ahead.” PSB