Transformed a stand-alone import dealership by identifying new opportunities to grow F&I profits and customizing product mix.

Explore how PRO Consulting Team leveraged its expertise to help a dealership grow F&I profits by 9% per car and over 90% increase in service retention.

Overview: Dealership was looking for ways to grow F&I profits, retain customers, and increase sales.

PRO consulting team transformed a stand-alone import dealership. We helped implement strategies to grow F&I profits and identify ways to bring customers back to the dealership.

Specifically, the dealership needed a better strategy to grow F&I profit, retain customers and make a second sale. To accomplish this, our team conducted a thorough product assessment. We fashioned a unique profit opportunity in the form of a customized pre-paid maintenance program.

As a result, the custom program increased the F&I revenue and service retention drastically and doubled the prospects of selling more cars.

The Challenge:

The challenge was twofold.

  • Firstly, the dealership struggled to identify opportunities to make a profit in the F&I department that impacted the dealership’s overall profitability.
  • Secondly, they needed a strategy to retain customers and make a second sale.

To emphasize, a typical approach of selling products for high price was not well received by the customers.

Therefore, to grow profit, the dealership needed to focus on selling customized products that served the customers’ needs.

The Solution: 

We leveraged our industry experience to quickly identify that the dealership required a customer-centric approach and offer products that customers needed.
The Pro team customized a pre-paid maintenance program. It provided discounted maintenance coverage to the customers. Furthermore, we added glass and key coverage as a benefits package to further enhance customers’ overall ownership experience.

In addition, the process involved a series of training sessions for the dealership staff to sell the products that would add value to both the customers and the sales personnel.

The Result: Our team helped to grow F&I profits and created additional opportunities to increase car sales.

The customized maintenance program and the PRO team’s expertise helped the dealership create a profit center in the finance department and grow profits by 9% per vehicle retailed. It substantially contributed to the overall revenue of the dealership.

Notably, the sales department experienced a significant increase in the service retention of over 90%.

Furthermore, the pre-paid plan tied the customers to the dealership. It opened the door to more revenue opportunities. Consequently, doubled the possibility of making a second sale.

Additional Benefits: Opportunities to engage with customers and generate more referrals

The customized maintenance program strategy was highly successful. Consequently, nine out of ten customers returned to the dealership multiple times to use the maintenance plan. In addition, it provided more opportunities to engage with the customers, generate more referrals, and considerably reduced the cost of acquiring new customers.

9% increase
in F&I Profit PVR

90% increase
in Service Retention

Doubled the prospects
of Making a Second Sale