Hidden Revenue Galaxies
Manufacturer Warranty: The Biggest Untapped Profit Center at Your Dealership
You probably have a goldmine of uncollected revenue sitting in your lot right now. Everyone thinks of warranty as post-sale when they should be thinking of warranty as a profit center, with a dedicated person owning the process.
To turn a profit from warranty, keep these three things in mind:
Put clean information in, get clean information out: Warranty should be a strategic part of the business from the very beginning. Manufacturers want to see good data: good stories and good pictures. This should be done from the moment that the unit is dropped off or sold to the full life of the warranty a year after it's sold.
The story matters: Don’t just write a sentence. Write at least a paragraph. Detail what steps you went through that contributed to the time spent on a unit.
Claim is only half the battle: When you submit a claim, the clock starts ticking to answer any questions that manufacturers may have. Run an aged receivable report weekly, if not daily. Keep a clear feedback path from AR to warranty to catch any discrepancies.
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The Next Frontier of RV Dealership Management
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