So the guy says, “We got this big event coming up this month! I love it because they bring guys in and all I have to do is stand to the side and they do all the work!” Does that mean that for the other 26 days of the month he do nothing? This guy was excited because at the last event they did 22 units in 4 days. The way I understand the math on most of these things is that they bring a group of guys in so they can take half your profit. They earned $100,000 and you only get $50,000. Not only that, but how long are they going to be able to advertise for “The Big Event” before their list of names to mail to gets stale?
Now, approach #2…you sell 22 cars in the month and get to keep your $50,000 and their $50,000. So, the guy that stood to the side (yea, stood, as in past tense, as in he should no longer be there) and lost your extra $50,000, should have considered an alternative method. Have a steady flow of leads every week so that your dedicated special finance staff can get into a rhythm. They need to learn how to sell the loan and establish long-term relationships with these potential customers. Who would have know working backwards would work so well for moving ahead.
When it comes to those Big Events, try to resist the temptation to pay another company half your profits. Oh, and keep your legal cost in mind!
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