The Road to ROI with F&I

Solid sales performances are valuable yet difficult for many dealerships to achieve. The key lies in consistency and cultivating a culture that appreciates and supports professional development. This way, teams consistently hone their product knowledge, sales territory planning, competitor intelligence, scouting, lead management, professional communications, and more.

Looking to hire an F&I business manager for your dealership? Considering the critical role that the professional plays, it is important to pick a top performer for the position. Finding a good fit will go a long way in helping you improve customer service, increase customer satisfaction, and positively impact your bottom line. So, what qualities should you look for to ensure you hire the right person for the job?

Clear communication is mandatory in good business. It's the foundation of proper customer service and acts as an indicator of whether or not the business is functioning as a cohesive unit. In automotive sales, a discrepancy between the sales desk and F&I will cost you customers and your reputation. Customers are naturally wary of car sales personnel and even an honest mistake can be taken as intentional misdirection. There are a number of strategies to streamline communication between your departments, and we've outlined 3 to get you started below.

It's easy to focus on sales efforts with your floor teams. After all, they're your first line of revenue generation. But it's also important to keep your finger on the pulse of your F&I teams as well. Up-selling in the back office can be just as lucrative to your bottom line. Today, we'll highlight three tips to keeping your Business Managers just as motivated as your sales staff.

For any dealership, we know the importance of the F&I department. As Wards Auto notes, F&I is "one of the most important profit centers in any dealership" with primary duties being to control the sale and arranging financing for the customer. If our Business Managers can seal those deals, dealerships will maximize on their profit. However, the pressure and responsibility can take a toll on these employees. Here are 3 ways to keep your Business Managers motivated.

In any industry, one of the most crucial elements of a successful, expanding enterprise is that they have the best leaders. Great business managers play a significant role in helping organizations not just to achieve their objectives, but also exceed them. Successful dealership business managers across the country utilize different strengths to achieve their goals year after year. But it is a priority that an organization recruits someone who meets several standard thresholds when it comes to dealership management.