And here we are 2023! Another year is upon us, and I am sure your Dealership has already thought about what you would like to achieve this year.
So, how can UAE Car Dealers set themselves up for a successful 2023? To do that you first need to assess 2022.
Was 2022 a success for your dealership? Was it a failure? Did you archive your goals? It’s important that you know where you currently stand and where you want to be.
The best part about starting a new year is gives you a brand-new chance to start again and forget the good and the bad of the past.
Here are 10 ways UAE Car Dealers Can Set Themselves Up for Success in 2023.
1. Create a Vision Statement
The first thing that your dealership needs to do to set yourself up for a successful year is to create a vision statement which outlines where you want to be at the end of 2023.
What are you looking to achieve in 2023? How many cars are you looking to sell by the end of the year? Are you thinking about opening another dealership location? These are some of the questions that you should address in your yearly vision statement.
Creating a vision statement gives your dealership a tangible target to strive for throughout the year!
2. Set Goals
Once you have your vision, the next thing that you need to do is introduce new tangible goals for your team to chase throughout the year. The benefit of setting goals is it gives you a measurable denominator to track how you are progressing with achieving your vision throughout the year.
It is important that your goals are both tangible and achievable. Setting unreasonable goals often brings many consequences like frustration, team rifts and frustration.
3. Employ a Strong Team
It may surprise you to hear this but your dealership will only be as good as your staff. To set your dealership up for success in 2023 and beyond, you need to build and maintain a strong team that is motivated, and results driven.
Having a likeminded team of professionals that work together to achieve business goals will put your dealership in a position to grow year on year and will create an enjoyable work environment.
4. Learn From Your Previous Mistake
In business there are always going to be mistakes. But what will determine if your business is successful or not is by the way that you learn and address those mistakes.
To reduce the risk of the same mistakes happening again, it is a good idea to get your team together and ask them to list all previous mistakes. Once they do that, implement a plan to reduce the risk of those mistakes happening again.
5. Automate Daily Tasks
Effectively managing time is the key to running a successful business. In 2023, your dealership cannot afford to get caught up performing manual administrative tasks. It’s costly and will take you away from your primary role of buying and selling cars.
One of the best ways to set your dealership up for success in 2023 is to automate daily dealership tasks using an industry specific Dealer Management System. The benefit of using a Dealer Management System is it automates many daily tasks like Stock Management, Vehicle Advertising, VAT Calculations and Reporting – giving you more time to focus on the customer and maximizing growth.
6. Build New Revenue Streams
There is only so much money you can make off a vehicle sale. To grow your dealership beyond your current level it is important that you find and introduce new revenue streams. Some of the most popular additional revenue streams for Car Dealership Include Vehicle Warranties, Vehicle Servicing and Dealer Finance Options.
7. Adapt to Changes
The UAE Automotive Industry is continuing to change. The way that Motor Dealers bought and sold vehicles in 2022 will be much different to the way they will sell them in 2023. With that being said it is important that your dealership stays on top of both customer and industry trends and adapts to meet the status quo.
Research industry trends online, speak to other dealers and most importantly speak to customers. Find out how they are finding their next dealership and how much they are looking to spend. Once you identify any changes, adapt your offering to closer meet the customers needs.
8. Watch the Competition
Let’s face it the UAE Automotive Industry is extremely competitive. To be successful buying and selling cars in the UAE you need to keep a close eye on what other dealerships are doing.
Watch what other dealerships are doing, see how they are selling their cars, and most importantly find out how much they are selling their cars for. Once you understand what they are doing, adapt your offering to better what they are offering. The more competitive your dealerships offer is, the more customers you will convert!
9. Continue to Learn
You can never stop learning! Another great way that you can set your dealership up for success is by continuing your learning and education.
The benefit of continuing your learning is new developments are always being introduced to the UAE Automotive industry. Learning some of these new developments can and will be beneficial to your dealership and help the way that you operate.
It’s no question that the running a Car Dealership is a challenge. Some days are going to be better than others. What will set your dealership up for success in 2023 is by the way that you persist with challenges. Remember there will always be a light at the end of the tunnel, always revisit your vision statement, because that is what you are striving for day in day out!
2023 will offer many challenges and rewards for Motor Dealerships in the UAE. The 10 tips mentioned above are a few great ways you can set your dealership up for a successful 2023.
We hope you enjoyed reading this article. To read more articles like this, please visit the EasyCars latest news page here.
EasyCars by Jeal is a UAE Motor Industry Specific, Dealer Management Software that automates the daily tasks of running a motor dealership. Using the latest technologies, EasyCars removes frustrations experienced at the dealership - opening the doors to future growth.
EasyCars features include Simple Stock Management, Automated Advertising, Automatic VAT Calculations, Xero Accounting Integration, Facebook Automotive Inventory Ads, Dealer Websites and Business Reporting in the one central management software.
To learn more about EasyCars or to arrange a no-obligation free demo of the software, please submit the form below.