5 Top Tips For Independent Dealers Heading Into 2023
Understanding your needs and ensuring you have the right support is essential to running a successful independent dealership. Here are some top tips to consider when thinking about making changes to your business…
Determine your business needs – Do you want to diversify, specialise or expand your stock? When your dealership has been operating for a while, it’s important to think about new opportunities and take some time to determine any improvements or changes you may want to make.
Identify any inefficiencies – Do you find it challenging to manage the time spent on audits and keeping track of your accounts and paperwork? There are many tools available to assist independent dealers in creating more efficient processes to help streamline paperwork and your daily workflow. NextGear Capital’s WFS Account Portal provides independent dealers with Stocking Plan management tools that include a bank calendar view to see payments going in and out of the account and the functionality to download statements and invoices to help save both time and money.
Examine your cash flow – There are a lot of stock funding partners available but finding the right one for your dealership can help you take your business to the next level. Wholesale funding partners like NextGear Capital can provide added flexibility to ease cash flow.
Look to the future – Have you thought about opening additional premises or changing your stock profile? You can start putting those ideas into motion by exploring additional funding options . Partners like NextGear Capital differ because we’re here for you. We’ve helped over 1,700 dealers grow their business and reach their goals by providing them with hands on advice, additional capital and industry expertise.
Don’t be afraid to ask for help – NextGear Capital aims to provide the most important retail, supply, and wholesale market insights. Having this on-hand support and utilising the right resources can help you become more profitable and grow your business. Technology and trends are continuously changing, having the most up-to-date tools and research can give you great competitive advantage.
Choosing the right stock funding partner for your business can give you flexibility and support when you need it. Helping to support you amid challenging market conditions and providing you with solutions to create more streamlined business processes, so you can focus on growing your business and its reputation.