The Complete Competitive Parts Department Business Plan

It can be tough these days for a Parts Department. With an increasingly eCommerce-driven consumer base, dealerships have to adopt new methods for standing out from the competition — and battle control of the online parts retail market.

Use this checklist to make sure your Parts Department is prepared to drive more revenue.

Start with these two key strategies to prepare your Parts Department for success: competitive pricing and launching an online presence.

 

Competitive Pricing

Today’s consumers are more price-conscious than ever. In order to distinguish your business, you’ll need to make your prices more competitive and your inventory more readily available to compete with aftermarket vendors. Consider adopting a simple pricing matrix that lets you vary your cost+ model for different price tiers. This can help you ramp up your Parts Department revenue and sales volume, while driving gross profit.

 

READ MORE: The Parts Manager’s Pricing Guide to Maximize Gross Profit

 

Launching an Online Presence

Online parts sales is a huge business — and only getting bigger. Consider this: online parts and accessories retail is projected to become a $14.2 billion enterprise in 2020. You’re going to want to secure your dealership a piece of that business. RevolutionParts can build you a custom online store with a simple backend and an efficient customer experience that helps you streamline and maximize parts sales. If you want to reach more customers and sell more parts, reach out to our experts today.


READ MORE: The 8 Keys to Successfully Selling OEM Parts Online

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