02 Diversifying Your Revenue Streams
More Service Work on the Horizon Accessories as a Profit Center Financial and Insurance Services: Simplifying Ownership
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Trend Highlights
Increase in Service Work
Boost Revenue with Accessories
Emphasize F&I
The surge in RV sales in past years points to growing future demand for repair and maintenance services. The ability to handle work orders promptly and maintaining a low Repair Event Cycle Time (RECT) will be vital for service departments' success. Dealers can differentiate their offerings and retain customers with mobile service options and post-service benefits.
Dedicate individuals or teams for accessory sales to provide customers with expert recommendations and improve sales efficiency. Instead of reactive selling (where salespeople pitch accessories in response to customer queries), try proactive selling (where the dealership suggests valuable additions).
Even with a dip in 2023 sales revenue for the average RV dealership, the overall trend since 2017 remains positive, suggesting that short-term challenges don't necessarily imply a long-term downtrend. To capitalize on consumer willingness to finance RVs, dealerships should offer competitive interest rates, flexible payment options and form partnerships with a variety of financial institutions.
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