Increasing Sales Profitability at Hallmark Ford in the Short Term

By

ACKNOWLEDGEMENT

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

Signed __________________ Date _________________

TABLE OF CONTENTS

Contents

INCREASING SALES PROFITABILITY AT HALLMARK FORD IN THE SHORT TERMI

ACKNOWLEDGEMENTII

DECLARATIONIII

TABLE OF CONTENTSIV

INTRODUCTION1

Background1

Aims and Objectives1

Research Question/Hypothesis1

Outline of the Study1

How Your Work Fits Existing Published Work5

Significance6

METHODOLOGY7

Research Design7

Feasibility7

REFERENCES8

INTRODUCTION

Background

The company which will be understudy in this research project is Hallmark Ford.

Aims and Objectives

The author's aim in this paper is

to lay out a detailed approach on how to build profitable in the “front end” or sales and finance departments of a dealership.

How the expenses, with proper expense structure the dealership can weather bad times and also thrive in good times.

Research Question/Hypothesis

The paper with cover technology and how this has changed the business and will continue to change the business for years to come, what packing cost is and why it is so important, and also the presentation and how that has an effect on customers and staff.

Outline of the Study

Increasing Gross

Front End - Initial Sale

Pack

What is Pack?

Psychology of Pack

Psychology of Managers

Psychology of Salesperson

Psychology of Customer

Effect of Accounting

Deal Structure

Consistency

Building Customer Trust

Customer Attitude and Expectations

Sales Skills and Training

Skills of Managers

Skills of Salesperson

Product

Inventories

Trades

Auctions

Variety

Understanding Product Knowledge

Needs vs. Wants

Product Presentation

Reconditioning of the Inventory

Back End - Finance Department

Pack

What, How, and When

Effect of Accounting

Effect on Owner Profitability

Menu Selling

Knowledge and Benefits

Types of Coverage

Coverage Companies

Empowering the Customer

Consistency and Clarity

Decline Product Disclosure Statement

Knowledge

Fear

Finance Options

Number of Lenders

Types of Lenders

Understanding Lender Guidelines

Understanding Customer Situations

Personal Financing Options

Credit

Equity and Affordability

Convenience

Effects

Effects on Finance Statement

Effect on Cash Flow

Effect on Net Profit

Effects on Abilities

Increase in Spend in Various Areas

Decrease in Ownership Interaction

Effects on Morale

Increasing Sales

Advertising

Marketing

Prospecting

Referrals

New Business

Customer Follow Up & Retention

Ensuring Satisfaction

Increasing CSI Scores

Service Business

Cutting Expenses

Employee Expense

Inventory Expense

Days' Supply

Average Inventory Vehicle Cost

Reconditioning and Maintenance

Supply Expense

Miscellaneous Expense

Bidding for Lower Cost

Credit Card Terminal Expense

Reconditioning Supplies Expense

New Technology

Credit Card Terminal Expense

Phone System

Follow Up / Customer Retention Software

In House Accounting Software

Website

Effects on the Financial Statement

How Your Work Fits Existing Published Work

Four of the sources that the author has selected are listed below and all of them contain great information that will add to the dissertation. The first source by Maddox, R. and Smye, M. (2003), has great information about selling to women (usually the decision maker) and also how to follow up with them to maximize service business, referrals, and repeat business in general.

The second source is by Redd, P. (2009), and talks about various ways to make extra money in the finance office through smaller commissions and more product sales to increase both the gross and net profit.

The third source is one on selling vehicles and the way vehicles are ...