Shortening a consumer’s time spent with an F&I manager could result in a revenue spike of hundreds per unit and thousands per month. In fact, this process has been credited with metric dealers averaging more than $500 (plus documentation) in F&I sales per unit sold and even more than three times that for V-twin dealers.
How can a dealership successfully adopt this process? That and other key F&I learning elements will be detailed in an upcoming powersports-specific program called the F&I Manager Training Academy. The academy has been created by Garage Composites, a training provider, and will be led by Steve Dodds, a powersports F&I expert and well-known industry speaker and columnist.
The academy is unique to the industry as it brings training to a new level, providing a series of trainings for F&I professionals instead of just one session or just one multi-day event. F&I professionals will meet three times with Dodds and other Garage Composite training experts over a nine-month period. At each meeting, program participants will learn about effective industry-specific processes and compliance issues, plus review their results with peers to identify strengths and challenge areas.
This latter part will be key to producing effective F&I managers, which is why Garage Composites will require interested F&I managers to pass an application process to qualify for the training.
“We are going to take a small number of F&I managers and raise them to the next level,” Dodds said.
Dealers are encouraged to contact Garage Composites quickly to secure a seat for their F&I manager in the program, which starts on March 14. All three of the academy’s training sessions will be held in Denver.
For more information: [email protected]