An automotive dealership is a good business choice because the demand for vehicles is seen to continue to keep on increasing. In 2016, a total of more than 210 million Americans were licensed drivers. Additionally, cars will remain to be the primary mode of transportation in the foreseeable future.

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While establishing a car dealership may eventually prove to be a sound investment, there are many factors to consider before pushing through with it. Here are some of them:

• New, used, or both? The first thing that a starting car dealer would need to think about is whether to sell new cars or used ones. Choosing the former will require a substantially higher amount of capital and a partnership with car manufacturers. A used car dealership will not require as high as an investment, although it also entails a lower income potential. If there is access to new and used cars, it can provide customers more options.

• Location: The physical site of the dealership is another important consideration because convenience and visibility could bring in more potential customers. But with the advent of mobile technology, location is not as big a deal as it was decades before.

• Federal and state laws: It is important to become well-versed with the laws, such as Federal Used Car Rule, consumer rights, safety laws, lemon laws, and much more. These govern the operations of car dealerships and ensure the legitimacy of the business, which can eventually attract more customers.

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Jeff Lupient grew up in an environment that dealt with cars. He eventually became the president and CEO of his own car dealership, Lupient Automotive Group. Read more about the industry by following this Facebook page.

A mistake that some businesses commit is failing to take care of first-time customers, thinking that a sale is complete after a client transacts once with them. While it is technically true, sales experts say that it only becomes a “sale” when the customer either buys again as a repeat client or refers the business to other people. There is then a need to nurture a strong and lasting relationship with clients.

Here are some of the best ways how to maintain a good relationship with customers:

Exceptional communication

Timely, efficient, and relational communication is key because it shows clients that the business values them as partners and not just a source of revenue. Businesses need to learn the art of knowing how and when to initiate conversations, to send updates, and most importantly, to back off.

Listening to feedback

Without the right attitude, bad feedback can hurt the ego and lead to negative reactions. However, businesses should learn how to respond positively to the dissatisfied client to attempt to change their perception about the organization.

Additionally, this type of feedback, particularly the ones that hold important information, can become constructive by using them to bring about progressive changes that would please current and potential clients.

Jeff Lupient is a hands-on automotive retail sales manager who utilizes the full scale of his knowledge and experience in the industry to provide top-notch service and create and maintain lasting customer relationships. Read similar artices here.

In recent years, car sales have breached the 17 million mark in the U.S. But the economic complexity of the automotive industry guarantees that this will diminish, and 2017 seems to be the year for that.

The automotive sales boom in the past seven years largely coincided with an improving job market and easy access to loans for purchasing vehicles. Naturally, economic slowdowns will give the automotive industry a direct hit, and dealers and brands felt a little squeeze as early as January this year.

An administration change could introduce upheavals in the industry. President-elect Donald Trump’s higher tariffs on imported cars and parts will, of course, be blatantly felt by producers, while banks and other lending institutions are just now realizing the consequences of breezy loan approvals in the form of defaulting car loans.

The slower pace of sales growth might take some getting used to, as last year saw a buying frenzy, especially in segments such as crossovers, SUVs, and pickups. Falling global oil prices also helped automotive consumption, while energy trends are also expected to exhibit shifts towards the use of electricity and other fuel alternatives.

Analysts and industry insiders, however, are waving off the slowdown as a natural consequence of a high. After all, six years of prosperity are long enough, and it’s not like the market underwent drastic changes so as to significantly cut production and scare off demand.

Jeff Lupient is proficient in many skills such as new business development, automotive dealership, and sales. His competencies would later lead to his becoming the president and CEO of Minnesota-based firm Lupient Automotive Group in 2012. For more reads on the automotive industry, visit this page.

The world’s most popular business leaders started out as interns and entry-level employees. Before they reached the peak of their careers, they were once young professionals with dreams of climbing the ladder of success. In this generation of young professionals, what can they do to be truly successful in their chosen fields?

In this age of instant gratification and social media envy, young professionals and young leaders must be reminded that hard work still pays off. They might need to pay their dues by putting in the extra effort and learning all the aspects of a job before they can climb the career ladder. When they are placed in a less than desirable position in the office, they can choose to view it as a stepping stone to success.

Those who prefer to start small shouldn’t be looked down upon. With focus, determination, and a growing set of skills, what once was a simple endeavor can grow into something that will impact many lives. Starting small can help a person embrace small achievements and become open to correction.

While at the early stages of their career, aspiring young leaders must also be willing to train under a reliable mentor. Instead of learning from colleagues who are at the same level, it’s best to find an authority in the office that can answer their questions and guide them through projects.

Great things don’t happen overnight. Achieving success in the workplace requires the right balance of technical and interpersonal skills. Young professionals and aspiring leaders should continue to strive hard to reach the top.

Lupient Automotive Group CEO Jeff Lupient is highly dedicated to the growth of the family business. Visit this blog for more business management tips and updates.

It’s quite a common occurrence in sales for salespeople to befriend their clients to nurture relationships. However, it is a very human condition to naturally fall into the trap of forging friendships with a client to a fault. Here is some advice to find the best compromise that works.

Aim to spend leisure time after work or on weekends. This kind of set-up is both good for client and sales person because the peak of work really happens during the day. Constraining leisure outside of work hours is beneficial, because whether on the client side or the sales person side, productivity in the day needs focus.

A big meeting, a product demonstration, or product sampling are examples of concrete activities that are required for a sale to happen. A good option to take is to schedule leisure time right after such an activity. Work and play can be done on the same day, but ensure that the two agenda do not interfere with each other. There’s no problem having dinner with your client right after an event.

Learn to say “no” to your client’s invitation for another round of drinks or coffee. Be comfortable with asking for a rain check, or suggesting a different schedule. Learn to put your foot down, most of all, when it comes to pricing concerns that your client lobbies to you during your leisure time.

There is always a danger in anything that proves to be too much. This is the same in maintaining friendships with clients. If your friendship with a client gets in the way of work and selling, this has to be improved. Certainly, you can be honest with your client, if indeed he is your friend too.

After many years of experience in sales, Jeff Lupient is now the president and CEO of Lupient Automotive Group. Find out more about this industry by visiting this blog.

Sales is a rather interesting career. The salesperson finds his crowning glory in the form of a customer who buys his product and seals the deal. There are, however, a number of logical consequences for each automotive product. This is the reality of after sales.

The first concern has to do with warranty. Cars have warranty clauses in the sales contract, which the client may or may not be mindful of. The good salesperson is proactive in educating the client about the specifics of this.

Another concern is maintenance. It is a standard nowadays to include a maintenance incentive in every car purchase, one that would indicate that a vehicle is due for a free check-up for a certain number of miles driven, or a specific amount of time that has elapsed.

And then much later, the car becomes due for another check-up, with the anticipation of other maintenance issues that logically come at certain points in time. After sales would include a general diagnostic scheme for the much aged car.

After sales is perhaps the only shot that an automotive sales company has in keeping their clients loyal to them. In the business of selling cars, long standing relationships with clients are most important. This is not easy to achieve, but to aim for it is very much worth the effort to ensure business continuity.

After holding various positions in sales, Jeff Lupient now heads the Lupient Automotive Group. To know more about sales in the automotive industry, visit this blog.

For some young people, their first job experiences (and, far frequently, their first real jobs) would come from participating in a family business. For individuals who decide to want to work in their parents' industries with the hopes of one day inheriting the family business, this is often a long and drawn out process, but one that their parents would for the most part appreciate.

One of the things young people must understand when entering a family business is that simply gunning for their parents' role in management without actually working for any other part of the business is a recipe for disaster. If they haven't been introduced to the family business early on, they should instead choose a much lower position in the rank and file to gain a much more realistic idea of the company's culture and processes from the ground up.

The tutelage they receive can either come from their parents or, barring that, a trusted employee familiar with the day to day operations of an enterprise. Young people interested in the family business should also take every opportunity to attend family meetings regarding business.

There are a number of challenges associated with family businesses. Among these is the increased likelihood of conflict due to misguided presumptions of what family members expect or interpersonal issues inevitably bleeding in. Young people entering the family business should treat the family job no differently from other professional engagements and keep personal issues distinct.

Currently the president and CEO of the Lupient Automotive Group, Jeff Lupient has been heavily involved in his family's auto dealership business since his youth. Visit this blog for more updates on running a family business.

Business development, or biz dev, for short, used to be ambiguously defined in the past, even being erroneously equated with sales. Generally speaking, business development is creating long-term value and developing growth opportunities out of the interaction among the business’ customers, markets, and relationships.

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While sales is focused more on generating revenue and looking for revenue streams for the organization, biz dev involves assessing partnerships and leveraging revenue to enhance products or services.

Business development strategies need to be as engaging as possible to foster further sales deals.

Firstly, formulating a framework that assesses opportunities can help the organization zero in on deals and meetings that make sense for the company. What contributes to its revenue, leads to new users, and enables the company to engage a new market should be prioritized.

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The sales discussion should then be more about the prospective customer, and less about selling the products or services. The more client-focused a sales presentation is, the more engaged the customer can be.

Additionally, because modern customers have higher expectations more than ever, educating them or challenging their way of thinking about their needs, then providing them a way to address these needs can capture their attention and lay the groundwork for a beneficial partnership with them. Prospects need more than just a price nowadays; they are in search of solutions.

After years of experience in the automotive industry, Jeff Lupient has become proficient in many skills, such as business development, car dealership, and sales. For more information about his work, visit this website.

So you got your first car sale, but the reality is, engagement does not end there. Keeping your client loyal to your business can be tricky, as you see him eagerly speeding off in his new vehicle, but this does not mean you shouldn’t find ways for him to do repeat business with you.

In general, the best way to keep your client is to make him remember often enough that you care about his needs.

Aftersales support is crucial in keeping customers loyal. No matter how new a car is, maintenance is an eventuality. Ensuring that you have calculated approximations of maintenance milestones of your client’s car is a good way to keep tabs. An email to your customer saying that his car is already due for a free tune-up and oil change or other maintenance services, creates a very memorable impression.

Small gestures like sending over an anniversary cake celebrating the car’s first year is a symbol of goodwill, as well as a subtle invitation for your client to assess his vehicle’s condition, which he will almost certainly need your assistance with.

Offering him a discount on his second car also allows your client to manage his plans ahead of his next purchase, especially as the average years of car ownership is often pegged at a specific number of years to each car.

These are small but meaningful things that clients do not easily forget. You’d be surprised to know that one day you will have earned the reputation as your client’s go-to guy for all his automotive needs.

Jeff Lupient, current president and CEO of Lupient Automotive Group, is highly skilled in automotive sales, customer retention, and process improvement. Skills that he has learned and mastered through the many years he served in his family’s chain of car dealerships. For more business management tips, follow this Twitter account.