Why Auto Dealers Fail, But You Don’t Need To, from Dealer Marketing.
“It’s failure that gives you the proper perspective on success.” —Ellen DeGeneres
Where to begin with quotes on success and failure? Ellen’s is only one of countless good ones. And they all say that if you haven’t failed while trying to achieve something, then you haven’t really succeeded. But failure also means that something actually wasn’t done right. Most probably, it was in the form of a faux pas or miscalculated risk.
While you can’t control every aspect of your auto dealership business because life is unpredictable and you can’t fight with, say, an economic crisis, there are preventive steps that you can take. Most of all, you can learn from your peers’ mistakes and avoid their pitfalls.
The following are some of the most common reasons why auto dealers file for bankruptcy. While they all boil down to finances, the problems stem from different fields of the dealership’s operation. Knowing them can give the ability to smell trouble from afar—and avoid it.