Calling all Dealership Business Managers (new &old)

[CHPD]

Afternoon Gents,

A very quick request for some assistance in making a career decision.

Having spent in excess of ten years within the finance/banking sector I have been offered a job at a very reputable motor dealership, as a Business Banager within their busy premium used car section.

I am currently an FCA approved person and have many years experience within asset sales, finance applications, team management, and regualtory awareness etc. It was this background and my business relationship with the Sales Manager that lead to the job offer.

The problem is, I have never worked within the motor sector. I request your help in assessing the risk versus reward of making the jump from banking.

I currently earn £38k/pa working mon to fri 9-5 in a very comfortable office based role. With the BM role I have been offered a £20k basic + OTE £70k, working a 6 day week. I am very sceptical of any job "realistic OTE" statements, but I am assured by the Sales Manager that the last guy hit this figure.

The dealership in question is very large, probably one of the county's largest, and is reported to turnover in excess of 200 used premium cars per month (x2 Business Managers on site).

I have read countless "Car Sales" threads on here but as I won't be a car salesman I am having difficulty in sourcing some thoughts. I would obviously be the F&I guy which is a role I dont find particularly daunting at all, neither do I mind working on a Saturday.

Would you make the jump to the motor trade ?

What is your experience of being a Business Manager ?

All thoughts greatly appreciated as I am genuinely struggling to decide.

Regards

[PGNTuscan]

If you are good at your job and work your socks off you will make money. Simple.

Good luck with your choice.

[northwest monkey]

Look at it this way - your basic is £20k and your bonus is expected to be around £50k extra. If you only did half of what is expected, you'd get £25k bonus.

From people I know in the trade, about £70k should be very achievable for that role (obviously depending on location and dealer etc).

[markmullen]

You'll have to put more hours in, and some people don't get on with that, but you'll make far more money than your current job, assuming you're good at it.

[CHPD]

thanks gents,

Like anything in life I suppose hard work pays off.

Its the sector performance after recent turbulent years that worries me. But then again I guess I can research that.

[nickfrog]

CHPD said:

Business Banager (...) regualtory

You're fired!!

[eybic]

I think the thing you need to be aware of is that your salary will be in the hands of the sales execs around you, if they are crap at selling finance then it will have an impact on you.

[markmullen]

eybic said:

I think the thing you need to be aware of is that your salary will be in the hands of the sales execs around you, if they are crap at selling finance then it will have an impact on you.

Not usually where a BM is in place, the BM sells the finance and add ons, the exec sells the metal.

[eybic]

markmullen said:

eybic said:

I think the thing you need to be aware of is that your salary will be in the hands of the sales execs around you, if they are crap at selling finance then it will have an impact on you.

Not usually where a BM is in place, the BM sells the finance and add ons, the exec sells the metal.

The exec needs to drop the "hooks" for finance and the products though. Where I am, we haven't had a BM for about 3 months so we have to do it ourselves unfortunately.

[chrisw666]

markmullen said:

Not usually where a BM is in place, the BM sells the finance and add ons, the exec sells the metal.

How does that work in practice? I've known people walk from buying cars because they had cash or finance in place but the business manager laying it on heavily really pissed them off, oddly they were both Audi dealerships ran by the same group.

[eybic]

chrisw666 said:

How does that work in practice? I've known people walk from buying cars because they had cash or finance in place but the business manager laying it on heavily really pissed them off, oddly they were both Audi dealerships ran by the same group.

That does happen unfortunately, I've had people walk out then call me saying the BM pissed them off.

[chrisw666]

eybic said:

That does happen unfortunately, I've had people walk out then call me saying the BM pissed them off.

I can imagine that is a real pisser when you're relying on commission for a decent wage and have done what should be the hard bit.

[eybic]

chrisw666 said:

I can imagine that is a real pisser when you're relying on commission for a decent wage and have done what should be the hard bit.

Yeah it is annoying but I've had it the other way where someone is adament they are paying cash and having no insurance products then the BM talks to them and they end up taking finance and all the products. It is rare that people walk when the BM does their bit but it does happen.

[markmullen]

chrisw666 said:

How does that work in practice? I've known people walk from buying cars because they had cash or finance in place but the business manager laying it on heavily really pissed them off, oddly they were both Audi dealerships ran by the same group.

Against that for the odd deal the exec loses due to the BM he will earn more for having the BM intervention in the majority of deals.

[Gazunder]

northwest monkey said:

Look at it this way - your basic is £20k and your bonus is expected to be around £50k extra. If you only did half of what is expected, you'd get £25k bonus.

Or to look at it another way, I hope the OP isn't planning on taking a mortgage/re-mortgage soon, as his salary will be £20k.

[dictys]

eybic said:

I've had people walk out then call me saying the BM pissed them off.

I've walked from two dealerships because of this, however, eventually I only had to deal with the normal car salesman and a deal was done.

In fact it annoyed me so much I complained to the head office about one BM.

[northwest monkey]

Gazunder said:

northwest monkey said:

Look at it this way - your basic is £20k and your bonus is expected to be around £50k extra. If you only did half of what is expected, you'd get £25k bonus.

Or to look at it another way, I hope the OP isn't planning on taking a mortgage/re-mortgage soon, as his salary will be £20k.

For now, yes you're correct, but after a couple of years decent lenders do take into consideration the commission you earn. Not exactly on topic though & I can't see where the OP mentioned moving house.

[Ray Luxury-Yacht]

I think you're mental for even considering it.

[excel monkey]

chrisw666 said:

How does that work in practice? I've known people walk from buying cars because they had cash or finance in place but the business manager laying it on heavily really pissed them off, oddly they were both Audi dealerships ran by the same group.

Had that experience when buying our Audi recently. Salesman was a decent guy, but the finance guy was a chump. Insisted on speaking to us even though we had made it clear to the salesman that we didn't want finance. Tried to humour him for a while, but after 10 minutes of hard sell, I had to tell him quite bluntly we weren't interested.

[SV8Predator]

CHPD said:

The dealership in question is very large, probably one of the county's largest, and is reported to turnover in excess of 200 used premium cars per month

Struggling slightly with this huge and obviously very professional dealership offering such an important and high profile role to someone with no motor trade experience?

But whatever, you'll soon get sick of losing your weekends, and if you've got any self-respect, the "them and us" mentality, and the complete disregard for the customer, although you may be already carrying that baggage from the banking sector.