As a car dealership owner, you’re always looking for ways to improve your business. One aspect of your business you may not have thought about is floor planning. Essentially, floor planning is the financing that allows you to maintain a stock of vehicles to sell. It’s no secret that cars aren’t cheap, and having a large stock of cars on hand can put a significant strain on your finances. A floor planning partner can alleviate some of that strain. In this post, we’re going to discuss why every dealership needs a floor planning partner.
Maximizes your inventory
One of the most significant benefits of having a floor plan company partner is that it allows you to maximize your inventory. When you have a financing partner, you don’t have to worry about being limited by your available funds. You can purchase as many cars as you want, and your floor planning partner will handle the finances. This means that you can always have a wide variety of cars in stock, which will attract more customers.
Save money with financing
Another benefit of having a floor planning partner is that it can save you money. When you finance your inventory, you’ll have to pay interest on your loans. However, a floor planning partner can offer you lower interest rates than other lenders. This can save you money in the long run and make it easier for you to pay off your loans. Additionally, floor planning partners can provide you with flexible repayment plans, which means you can pay back the loan at a pace that suits your needs.
Improved cash flow
With a floor planning partner, you won’t have to worry about tying up your cash flow. When you invest in your inventory, you’re essentially tying up your available cash. However, when you work with a floor planning partner, you can free up that cash flow. This means that you can use that cash to improve other aspects of your business, such as advertising or hiring additional staff.
Better management of your inventory
When you have a floor planning partner, you’re not taking on the financing alone. Your partner will also help you manage your inventory. They use analytics and data to identify trends in the market, which will help you make more informed decisions about your inventory. They’ll also provide you with valuable insights into which cars are selling well and which aren’t.
Improved customer service
Finally, having a floor planning partner can improve your customer service. When you have a wide variety of cars in stock, you’ll be able to attract more customers. Additionally, when you work with a financing partner, you can offer your customers more flexible financing options. This means that you’ll be able to help more people get behind the wheel of a car they love.
In conclusion, every dealership needs a floor planning partner. The benefits of a floor planning partnership are numerous and can help your business grow and thrive. When you work with a floor planning partner, you’ll be able to maximize your inventory, save money on financing, improve your cash flow, better manage your inventory, and improve your customer service. Don’t let a lack of financing hold your business back. Consider partnering with a floor planning company today.