BENEFITS TO YOUR DEALERSHIP:

• Deeper understanding of financial metrics for your dealership
• Identify how daily parts operations impact the bottom line of the dealership
• Implement best practices for managing parts department employees
• Learn how to attract and recruit talent in today's labor market
• Establish an employee development program
• Create a succession plan for your dealership's Parts Department
• Learn how to work with and get the most from the Millennial generation
• Increase synergy between your Parts and Service Departments

TOPICS COVERED:

• Parts Financials
  • Impact the P&L Statement, Balance Sheet and Cash Flow Statement.
  • Gross Margin, Operating Income, Pre-Tax Profit and Net Income.
  • How financial statements are affected by Parts Inventory, Parts Write-offs, and Obsolete Parts.
  • Parts Pricing: Mark-up vs. Margin, Elastic and In-elastic pricing
• Parts Metrics
  • Metrics that really matter and benchmarks for each.
  • Measuring Parts & Service Absorption and how other dealers are using this metric to improve their business.
  • Measure parts market share for your market and calculate the potential for parts sales based on your customer base.
• Personnel Management
  • Recruiting, grooming and motivating talent.
  • Key strengths to look for, and red flags to avoid, when recruiting Parts Employees.
  • Setting annual objectives and completing annual performance reviews.
• Millennials in the Parts Industry
  • The coming generational talent crisis in North America.
  • How Millennials differ from other generational groups.
  • How you can attract and retain Millennials.
• Supporting your Service Department
  • How Parts can help Service be more efficient and increase service capacity.
  • Treating the Service Department as a customer.
  • How the Service Department can help Parts Sales & Operations.

COURSE AGENDA:

Click here for the full Course Agenda

Please contact us with any questions: 866-533-1020 or [email protected]

VIRTUAL TRAINING INFORMATION:

This course will be held virtually using ZOOM Video Conference services.  The course will be held 11:00 AM Central until 4 P.M Central both days.  The event will be instructor led with sufficient interaction between students.  Class size will be limited to ensure ample time for questions and discussion.

For more information on joining a ZOOM Video Conference click here.