Calculating margins isn’t rocket science once you’ve done it a few times. If you’re the dealer you can probably do it in your sleep.
However, if you’re a new salesperson OR if you’re building a boat loaded with options and accessories, getting to your profitability number quickly isn’t all that easy. You need to know that number right now so you can close the deal that you’re working on.
You could excuse yourself and go into the back office and try and get to that number while your customer sits in an office by himself and tries to figure out how he’s going to explain to his wife that he just bought a new boat, or you can let him or her leave and tell them you’ll call them with the deal, or you can go old school and sign the deal and hope that you’ve actually made money.
Any of these approaches is problematic. He can decide that he doesn’t want to do battle with his wife while you’re gone or when he leaves he can stop at another dealership on the way home. Of course finding out that you lost $1,500.00 selling a boat probably won’t make you happy either.
DON’T LOSE CONTROL OF YOUR PROSPECT! Rigging Genie will tell you your deal profitability instantly– and not just the rigged boat but all of those options and accessories that you’ve added on.
Now you can make a quick and informed decision.
Not only will Rigging Genie tell you your profitability but it will also allow you to restructure the deal in almost any way that you want. Tell it how many margin dollars you want and it recalculates the deal. Tell it the margin percentage that you want and presto, there it is. Tell it what sail away price you want and there it will be.
Best of all it will be accurate.
This is how you professionally close a deal.