One of the best ways for a new car dealership owner or used car lot owner to increase their profit margin is to upsell the buyer. You already have someone willing to give you a few hundred to tens of thousands of dollars for a vehicle.
If they trust you with that much money already, they’re probably willing to spend a few dollars more for upgrades and additional services. If you’re a car dealer, you probably already know this and offer such services and upgrades.
However, there is one service in particular that you may want to take a serious look at – if you’re not already offering it. That service is a custom gold plating package. You may be thinking that there’s no way you would want to get involved with the hassles of going through the trouble and expense of buying the gold plating equipment.
You probably don’t want the headaches of having to train people how to gold plate, or hire people who already know how to gold plate. Well, guess what? You can offer your customers custom gold plating services for their vehicles and won’t have to deal with either of the two above scenarios. You can outsource your vehicle gold plating needs.
Is the cost too prohibitive?
That’s the beauty of offering this service, and outsourcing it. You don’t have to pay someone to stand around and do nothing if you have no orders for gold plating jobs. You don’t have to buy any equipment. You only pay when there is a job to be done. They are an independent contractor, therefore, there is very little to no cost for you.
Is it profitable?
You bet it is. You can easily charge 3 times to 5 times, or more, what you are charged for the gold plating work. The best thing that can happen is the gold plate packages are a hit with your car buyers. If you have a lot of work consistently for your gold plating professional, you can probably negotiate a better rate, which would give you an even higher profit margin.
Do people want their vehicles gold plated?
In today’s society, it’s all about image. Most people don’t buy a car strictly for practical reasons. They want a car that they will look good in. It’s especially about image, if you are selling a new or a more upscale luxury type of vehicle. Your buyer definitely wants to be noticed.
If you tell them your buyer you have an even better way for them to draw attention to their vehicle, and give it a more custom look; they’ll usually sit up and take notice. What’s more attention grabbing than seeing a car driving by catching the glint of the sun off the gold layered parts?
What types of packages should you offer?
You should talk to the person you plan on outsourcing this work to. They would probably be able to make some suggestions. However, typically, any one of these vehicle parts can be gold plated: tire rims, door handles, fenders, bumpers, windshield wiper bars, emblems, logos, mirrors, luggage racks, grilles, exhaust tips, keys, lug nuts, etc…
Custom gold plating packages are an easy way for you to make some additional revenue from your car buyer. When you outsource the work to be done, there is no cost to you, until there is a job to be done.
When there is a job to be done you can easily make a profit by charging 3 to 5 times or more of what you are charged for the service. Consider adding this service to your up-sells and talk to a gold plating service provider today.
