Last summer, dealer trainer Bill Shenk agreed to purchase part ownership in Florida MotorSports, a multi-line dealership with stores in various Florida locations. The Dealer LAB entails Shenk implementing his tried and true 4 Ps of Profitability
to pull a 180-degree turn to steer Florida MotorSports to success.
Manheim Specialty is a proud sponsor of this successful project, and, earlier this year, we invited Mr. Shenk to check out some of our Specialty auctions, knowing that our top-of-the-line inventory would be able to play a key role in his 4 Ps formula
In October, Bill joined us for an in lane sale. Because he was new to the auction process, Manheim Specialty had auction aids on deck to answer his questions, offer assistance and make him feel comfortable. Bill’s experience at the in lane sale was so positive that he decided to participate in a second sale online in November.
With the help of Manheim Specialty and our convenient online applications, Bill used his iPad to purchase four units, two of which resulted in an average profit of $1,360! These units were purchased at less than NADA and Black Book value, and the two units sold so far were at a rate that was $75 higher per unit than average used bike sale price.
“The success of our customers is based heavily on the success of their auction experience,” said Kim Miskotten, category manager of motorcycles/powersports. “Manheim Specialty embraces the unique opportunity to make a connection and build a relationship with each and every customer. Being available to answer questions at auctions is especially important for newer auction attendees like Bill Shenk.”
To check out the ongoing success of DealerLAB, be sure to read the monthly magazine DealerNews. http://www.dealernews.com/