Scott Gunnell, JM&A VP of Field Sales Operation and Strategy, is back to talk about the ever-changing role of F&I managers in your dealership and how to maintain a workforce that is progressing at the same rate the auto industry is.
The F&I manager is considered to be one of the most stressful and always evolving positions within a dealership employee structure. The F&I departments in stores is said to be one of the most important profit centers in any dealership. The manager in charge is a bridge of sorts between the customer and the process. Because of this, the F&I lead is expected to know everything about the product, numbers, and overall dealership processes.
There has been a noticeable difference in role structure for this position over the years and in Scott’s opinion that will continue to be the case. He shares with Jim that right now, F&I managers should be excited. Why? Well, Scott begins by saying that a large part of the gross profit of a dealership is coming from their world. Secondly, their knowledge is incredibly important and valuable to the future of the business making this position the one that should be sought after if you are looking for the room to grow.
But, not everything is great. Like most of the automotive industry and the roles it houses, if you are in F&I and specifically if you are the manager, Scott hopes you are open to change. He says, “if you think you are going to do things the same way today… you are in trouble”. JM&A advises F&I managers to take a stronger look at the consumer process and embrace them.
Every business is at that pivotal fork in the road where they have to take a step back and view their internal process through a consumer’s lenses. Fortunately, consumers have been very transparent about what they want and need out of the car shopping process. The hard part is taking their desires and applying them in a beneficial way that works well within your dealership.
For more with Scott Gunnell of JM&A, visit the link here.