The Cost of Auto Sales Training
Fast Sales Training Center Dealership Training Program
Training individuals to be the best in the auto sales industry
Fast Sales Training Center was established in 2006 by experienced professionals who have been in the auto sales industry for over 35 years.
All those years have taught us one thing: training is an essential tool in the auto sales industry for the auto sales professionals who seek to improve their skills, achieve their goals, and be more successful in performing and overcoming the daily tasks and objections that this exciting career presents.
We offer fantastic teaching techniques that help make our trainees very successful and stand out among other candidates during job application. Our training converts our trainees into aggressive and well-trained machines full of enthusiasm and drive.
AUTO SALES TRAINING
Essential investment and not a cost
Training is the key to a store’s success –and it extends beyond new hires and sales associates. Training should be a core part of any dealership’s culture.
Training is important for promoting from within, and developing managerial staff from lower ranks.
Providing an internal training program is essential, and should be for new and experienced employees using the best method of online training and complementing it with hands-on training through weekly sales meetings.
Online training sessions should be a mandatory ongoing policy in every dealership.
Every month, sales staff should be trained and reminded how to meet, greet, and negotiate with customers.
By understanding this new approach to reducing sales staff turnover and speaking to millennials, FAST SALES TRAINING CENTER developed many online courses that cover various topics discussing all of the dealership’s operations.
WHY TO INVEST IN SALES EDUCATION
Do you know how many potential buyers who visit your showroom are being logged daily?
When trying to boost staff morale and maximizing profits, a dealership should not rely solely on external incentives.
A supportive working environment in which staff members are rewarded for their efforts and successes and given their own identity within a set structure should be enforced. This is so that your sales staff will feel empowered and feel they are a valued team member. This will create employees to want to do well within the organization.
Dealerships think training is expensive because they don’t realize that not training is actually more expensive: no training results in lack of productivity, lost opportunities and increasingly expensive new hires.
THE COST OF TRAINING
People want to do business with people who empower them
Dealerships have employees who have chosen to work in this business.
They all want the same thing: to be the best they can be. So why is so little invested in them?A publicly available program training will often range from one to two days and cost $500 to $5,000 per participant.
Private training programs can range from $3,500 per day on the low end to $25,000 per day on the high end.Now compare your total per employee cost to FAST SALES TRAINING CENTER (we charge a flat monthly fee, no matter how many of your employees will take our courses) versus hiring training techs (that is somehow always rationalized by saying the manufacturer requires it).
Also factor in the meals catered in while the meetings are being conducted.To evaluate the cost of training your employees, use this simple formula:
1 -Look at the income statement and determine the average amount spent monthly on training expenses.
2 –From that, subtract the amount to be spent with FAST SALES TRAINING CENTER online courses
3 -Divide that remainder by the total number of employees.
The final number will give you a number that amounts to little more than the cost of a couple of fast-food lunches per employee per month.The main reasons to invest in sales education for your team are to improve your number of units sold, improve your profit, improve your CSI, and keep your staff working for you.
See how a 5% increase in sales units can make a difference:
| ABC DEALERSHIP ADVERTISEMENT COST | |||||
| 20 Sales Associates | Per Sales Associate | ||||
| MONTH | Total Customers | 1000 | Total Customers | 50 | |
| Ad Cost per Customer | $150.00 | Ad Cost per Customer | $150.00 | ||
| Total Ad Cost | $150,000.00 | Total Ad Cost | $7,500.00 | ||
| YEAR | Total Customers | 12000 | Total Customers | 600 | |
| Ad Cost per Customer | $150.00 | Ad Cost per Customer | $150.00 | ||
| Total Ad Cost | $1,800,000.00 | Total Ad Cost | $90,000.00 | ||
| 30% CLOSED SALES | |||
| 20 Sales Associates | Per Sales Associate | ||
| MONTH | Total Customers | 1000 | 50 |
| 30% Closed Sales | 300 | 15 | |
| Average Profit (per unit) | $2,000.00 | $2,000.00 | |
| Gross Profit | $600,000.00 | $30,000.00 | |
| Total Ad Cost | $150,000 | $7,500.00 | |
| Net Profit | $450,000.00 | $22,500.00 | |
| YEAR | Total Customers | 12000 | 600 |
| 30% Closed Sales | 3600 | 180 | |
| Average Profit (per unit) | $2,000.00 | $2,000.00 | |
| Gross Profit | $7,200,000.00 | $360,000.00 | |
| Total Ad Cost | $1,800,000.00 | $90,000.00 | |
| Net Profit | $5,400,000.00 | $270,000.00 | |
| 35% CLOSED SALES | |||
| 20 Sales Associates | Per Sales Associate | ||
| MONTH | Total Customers | 1000 | 50 |
| 35% Closed Sales | 350 | 17.5 | |
| Average Profit (per unit) | $2,000.00 | $2,000.00 | |
| Gross Profit | $700,000.00 | $35,000.00 | |
| Total Ad Cost | $150,000.00 | $7,500.00 | |
| Net Profit | $550,000.00 | $27,500.00 | |
| YEAR | Total Customers | 12000 | 600 |
| 35% Closed Sales | 4200 | 210 | |
| Average Profit (per unit) | $2,000.00 | $2,000.00 | |
| Gross Profit | $8,400,000.00 | $420,000.00 | |
| Total Ad Cost | $1,800,000.00 | $90,000.00 | |
| Net Profit | $6,600,000.00 | $330,000.00 | |
| 40% CLOSED SALES | |||
| 20 Sales Associates | Per Sales Associate | ||
| MONTH | Total Customers | 1000 | 50 |
| 40% Closed Sales | 400 | 20 | |
| Average Profit (per unit) | $2,000.00 | $2,000.00 | |
| Gross Profit | $800,000.00 | $40,000.00 | |
| Total Ad Cost | $150,000.00 | $7,500.00 | |
| Net Profit | $650,000.00 | $32,500.00 | |
| YEAR | Total Customers | 12000 | 600 |
| 40% Closed Sales | 4800 | 240 | |
| Average Profit (per unit) | $2,000.00 | $2,000.00 | |
| Gross Profit/YEAR | $9,600,000.00 | $480,000.00 | |
| Total Ad Cost / YEAR | $1,800,000.00 | $90,000.00 | |
| Net Profit/YEAR | $7,800,000.00 | $390,000.00 | |
When you have unqualified sales associates in your staff, the huge sum of money spent on advertisement becomes wasted.
Do you know how many potential buyers who visit your showroom daily are being logged?How many of them are being introduced to a Sales Manager?What kind of follow up is your sales staff performing?
The main reasons to invest in sales education for your team: improve your number of units sold, your profit and your CSI and to keep your staff working for you.
See below how a 5% increase in sales units can make a difference:
| TOTAL DEALERSHIP NET PROFIT (20 SALES ASSOCIATES) | |||
| 30% SALES CLOSED | 35% SALES CLOSED | 40% SALES CLOSED | |
| MONTH | $450,000.00 | $550,000.00 | $650,000.00 |
| YEAR | $5,400,000.00 | $6,600,000.00 | $7,800,000.00 |
| NET PROFIT PER SALES ASSOCIATE | |||
| 30% SALES CLOSED | 35% SALES CLOSED | 40% SALES CLOSED | |
| MONTH | $22,500.00 | $27,500.00 | $32,500.00 |
| YEAR | $270,000.00 | $330,000.00 | $390,000.00 |
PREPARE YOUR STAFF TO BE TRAINED
Do you know how many potential buyers who visit your showroom are being logged daily?
How potential buyers are being introduced to a Sales Manager?
What kind of follow up is your sales staff performing?
Every employee should be part of our training plan.No job is too insignificant that it should be excluded from training.Identify what deficiencies you have in your store.
Is your Special Finance Department getting deals funded in a timely manner?
Does your F&I department seem to have more than their fair share of complaints?
What are your Service Department customer retention numbers?
How many vehicles are you selling in your Service Department?
Once you can identify some of the areas of deficiency, you can then start putting together a training plan using our different online courses to eliminate those deficiencies.
FAST SALES TRAINING CENTER ONLINE
COURSESDesigned to cover every stage of the sales process
Because we understand from an inside perspective how a showroom should operate, as well as its routines and the realities we are confronted with, we have developed our extensive training as interactive and unique one-on-one online courses -eliminating boring handouts –because we understand that interactive courses will make training more fun and effective.
The dealership can enroll all of its employees and each course has a test you can use to easily view each employee’s progress through monthly reports we will send to you. We will also provide a certificate using your dealership logo and name along with ours upon completion.
Our training program is available 24/7 and your staff can access it from home if they decide to. An employee who needs constant reinforcement can review each course as often as necessary. Training is also consistent, decreasing the amount of time your management staff has to be involved in repetitive training.
BE DIFFERENT FROM YOUR COMPETITORS
FAST SALES TRAINING CENTER proudly offers a complete sales training program for those who have the desire to embark on the rewarding and lucrative career of automotive sales. Those who are already working in automotive sales but are looking to enhance and refresh their sales skills will also have a significant benefit.
Our program is designed to cover every stage of the sales process, along with in-depth explanations of each of the four different customer personalities, negotiation, objective handlings, and all the common forms used in car-sales transactions.
We prepare our candidates to not only close the sale, but also to build a long and strong relationship with each of their customers based on trust. This will lead to more repeated sales and new referrals.
Now it is time to have your sales staff learn and improve their sales strategy and skills with FAST SALES TRAINING CENTER’s Online Courses.