Managing a Luxury Car Dealership
Since the introduction of Henry Ford's iconic Model T in 1908, cars have been seen as symbols of ingenuity and innovation -- and the manufacturing of them as an American tradition. With over 200 million cars on the road today, and despite recent economic hardships, the automobile industry remains strong. With millions of potential clients who want to purchase a new car or service the one they currently own, owning a car dealership franchise can be a dream come true for an entrepreneur. The classes that the business school of Florida Gulf Coast University can provide, can further the aspirations of owning a car dealership specializing in the sales of premium-brand cars (Aston Martin, Maserati, Porsche). Such classes include: Professional Selling, Business Management, and Core Concepts Accounting. But in order to make the dream of a dealership franchise a reality, in addition to education, there are several important steps to take.
Familiarizing one’s self with the market (both in terms of geographical location and demographic audiences) and the existing brands within the market is the first step to owning a premium car dealership. For instance, in a small market, Aston Martin will likely grant only one dealership per market. Conversely, in a rural market where incomes are low and jobs are scarce, they may not grant any dealerships at all.
The next step is experience. One does not simply manage their own dealership without any experience in the automotive industry. A good place to start is in the sales department of mid-market cars like Audi and BMW. Starting a career in sales is more realistic than jumping to the management and distribution of some of the world’s most luxurious cars such as Bentley and Aston Martin.
A well-organized and professional car salesman should be knowledgeable about the cars he or she is selling but doesn’t necessarily need to be a technician. While the sale of the car requires a certain set...