When it comes to running a successful dealership, Randy Hoffman, senior director of the Delray, Fla.-based Ed Morse Automotive Group, knows what it takes. Hoffman has been with the group — which consists of 15 dealerships housing 17 franchises and 10 brands — since 1994. What started off as a job he took out of college in 1987 to hold him over until he decided what direction to take with his life became a career, one that he still has a great deal of passion for. "I still enjoy going to work every day. I love the excitement and ability to see peoples faces when they make the second largest purchase of their lives," he noted.

Hoffman is among the few Ed Morse executives who meet with agents and decide which F&I products the group will offer. He also helps direct the group's training initiatives and performance metrics. He chooses new products, in particular, by evaluating factors such as whether or not it is a good value to the end-user, whether it is backed by a solid insurance carrier, and if it is simple enough for both the F&I manager and the customer to understand. He also looks for products that offer ongoing training, as well as those that can assist him in customer retention.

With all that in mind, how does he find these products? He lets them come to him. "It is rare that we have to go looking for products, they generally find us," he said. "I attempt to give most vendors the time to present the offerings as long as the products meet the basics. I like face time. I prefer one-on-one time when looking at a new product. Also, referrals from colleagues are generally considered better than a representative from a vendor that cold calls."

Measuring Up

Adding a new product to the menu is just the beginning. Hoffman uses a variety of methods to track its success. First off, he looks at the raw data. He uses those numbers to help determine whether it's working, but, he admits, that's not always the prime factor. "Our internal reporting lets me drill down to specific sales figures, but nothing is as beneficial as spending time in the dealerships and seeing how customers react to product presentations and how the dealership staff understands/embraces a particular F&I product. When I evaluate the raw data along with the customer and employee experiences, an accurate evaluation can be made."

Part of that process is providing the right training to ensure his managers have all the information needed to knot only know the product offerings inside and out, but also have the necessary skills to present those products to customers in ways that make sense. To do that, he uses a wide range of training methods and sources. He tends to shy away from generic sales training, he noted, because the industry is unique, and he finds programs that are geared toward those differences to be more beneficial. He also prefers programs that are led by industry insiders, with firsthand knowledge of the way the business works.

"We have many of our own internal training programs, manufacturer training programs, vendor/lender training classes and third party training modules, both online and live. I tend to lean towards the programs that are more 'real world' than those that offer book smarts. I like a program taught by someone who at a minimum, has sold cars, but prefer someone who has earned a living in the auto industry. Those trainers are most often received with more enthusiasm form the staff. You have to have walked the walk to command the respect from your target audience."

Breaking In

"This is a great industry. It may be the best industry in the world," Hoffman noted. He encourages people to consider the automotive industry as a career, but said that there are some things to keep in mind. "Be prepared to work hard. Be prepared to work long hours. Be honest and tell the truth, because truth sells. Be committed to the car business as a career, and study, study, study."

Honesty is, he noted, one of the key parts of that advice. "It is my opinion that honesty is the best policy and honesty breeds success," he noted. Beyond that, tenacity is an important factor, because salespeople either have it, or they don't. Hoffman wants to surround himself with people both who work directly for him in his dealerships, as well as the vendors he partners with, who have the same passion and dedication to the industry that he has. "If you follow the simple road map provided, this industry can provide you with everything you will need in life for personal fulfillment as well as financial success."