To say Lisa Ferketich’s first experience with car ownership was unpleasant is an understatement, “I started living in my car when I was 16 and had been on my own since I was 10. I was a high school dropout but luckily knew how to type, so I was eventually able to get a data entry job at a dealership which is how I started working in this industry.”

Ferketich continued working at the dealership but didn’t stay in data entry too long. “My boss at the time wanted me to learn what the basic components of a car were, so I started working in the service department learning how to do everything from taking a motor apart to how censors worked.” She continued working in the service department even when she moved to another dealership. Once she was given the opportunity to start selling vehicles though, she quickly became the top salesperson at the dealership. But in 1987, women weren’t selling cars and she soon found herself caught in the crosshairs. “After four months I was told that the vice president at the dealership didn’t want a woman behind the desk because he felt that they should be making coffee instead. So needless to say, I was let go.”

Fortunately, it wasn’t too long before she was able to find a sales position at another dealership, but even there she continued to face pushback. “The service manager at the time hired me but the owner wasn’t happy about it. However, I didn’t let that stop me and through my hard work I ended up being the top salesperson at that dealership too. After a few years, that owner apologized to me and said he was going to hire more women to do sales.”

Despite all her success, Ferketich eventually got tired of the negative atmosphere at the dealership and decided to take a break from the automotive industry. After working in banking and real estate for a few years though, she started missing working at a car lot and decided it was time to go back. With all of her experience, Ferketich realized that she was more than capable of running her own dealership and that’s when she decided to open Street Visions in Telford, PA where she still serves her community as owner and president today.

After being a cash buyer for several years, Ferketich decided to try floor plan financing and since she was already a Manheim client, initially used MAFS. When MAFS transitioned to NextGear Capital, Ferketich stayed with the company who remains her sole floor plan provider 7 years later. “At first, I only financed what I could cover in my bank account and I took baby steps until I got comfortable with managing my floor plan. I like using tools like Account Portal to keep track of when upcoming payments are due.” In addition to using NextGear Capital to floor her vehicles, Ferketich is a big user of Cox Automotive products and made the transition a few years ago to using digital online platform tools like Manheim Express, OVE and AutoTrader.

Once COVID hit, just like everyone else, Ferketich had to make some quick adjustments. “You have to adapt as things change. In the beginning, we had to furlough everyone at the dealership, but since we got the PPP money, I was able to bring everyone back.” While Street Visions was closed down due to local COVID mandates, she thoroughly cleaned her dealership in anticipation for reopening. Some of the changes she made have become permanent like seeing customers by appointment only, providing PPE and arranging for sanitary test drives and vehicle deliveries. “We do whatever makes the client feel comfortable.”

Fortunately, she went into the pandemic ahead of the game through some smart purchasing and her ability to quickly sell off aged inventory. She’s also tapped into utilizing resources like the service garage at her dealership, which has generated another revenue stream for her.

Additionally, she implemented some digital retailing strategies into her sales procedures by having her customers complete most of their paperwork electronically, creating a more hands-free, efficient process. She’s also updated her website to better showcase her inventory while also focusing on increasing lead generation.

Ferketich is also very passionate when it comes to helping out people in need. “All of my employees know how important it is to take care of people, and that it’s not just about selling cars. If I have someone who comes in and is struggling like a single mom, we will work with them to come up with a payment schedule. I really believe that people should look out for each other because at the end of the day, money doesn’t buy everything.” This philosophy carries over to Ferketich’s personal life where in addition to looking out for her customers, she also volunteers to transport elderly & sick people in her community to and from doctors’ appointments, pharmacies and grocery stores.

Ferketich’s Portfolio Manager, Justina Childs says that she’s been a source of inspiration for her. “As a female in this male driven industry, Lisa thrives where others stumble. She does everything from buying to selling inventory and everything in between. She’s been successful thanks to a combination of her longevity, staying on top of industry trends and building a great team around her which is evident because she’s had the same team for years. She’s performed on a very high level ever since she signed up with NextGear Capital and continues to do so today.”

When asked if she had any advice to share with other dealers she says, “In order to succeed in the business, you really need to focus. I like my life simple, so I can work with whatever gets thrown at me at work. Having a good support system always helps too like good friends and a good spouse or partner, because you need that balance. I also believe that when one door closes, another one opens. Yes, bad things can happen, but if these things didn’t happen I wouldn’t be where I’m at today, and most importantly as a woman, perseverance is key.”

With the convenience and safety that comes from shopping online, it’s no surprise that used car buyers are increasingly gravitating to dealerships who offer digital options. Whether it’s viewing inventory or completing their car purchase virtually, car shoppers are engaging with some form of digital retailing 50 to 60 percent of the time. Independent dealers should take note and look into creating a positive, intuitive online experience for these customers. Here are some tips for using digital retailing to create that better customer experience.

1. Create an Intuitive Website – If you’re not posting inventory on your website, you’re missing out on a huge opportunity. On average, customers spend 64% of their shopping time online before coming into a dealership. Make sure that you’re providing multiple photos and detailed information on each vehicle and that you’re using your dealership’s social media channels to showcase your inventory.
2. Embrace Customer Self-Penciling – If you really want to hone in on getting your inventory in front of the right customers, you should include an online calculator on your website. When car buyers are interested in purchasing a vehicle, they want to make sure they’ll be able to afford the monthly payments. Making a tool that helps calculate payment information easily accessible to potential customers will help them understand what they can afford before coming into your dealership.
3. Make the Approval Process Easy – Customers are always looking for ways to save time, so allowing them to complete as much of the paperwork digitally beforehand can help set you apart from your competition. Providing them with online credit applications and paperwork they’re able to fill out electronically will save you both time and create an added layer of protection against sensitive information potentially ending up in the wrong hands.
4. Adapt to Your Customer’s Requests – Even if you make your entire sales process digital, not all car buyers are going to want that kind of experience. While they may love the convenience of shopping online, when it comes time to decide if they’re ready to make a purchase, they may still want to come into your dealership and test drive the vehicle. It’s important to remain flexible to everyone’s preferences to cast the widest net possible.
5. Focus on the Final Touches – Whether it’s delivering a vehicle purchase to their home, providing them with a follow up online survey or offering them a discount on their first maintenance appointment, make sure you’re providing a high level of customer service through the end of the sales process. While they may not require your assistance once the purchase is complete, this may be your last chance to leave an impression, so make sure it’s a positive one.

Even if the majority of your business is still completed at your dealership location, by creating a convenient online sales experience for your customers, you’re going to attract more potential serious car buyers. By focusing on creating a streamlined approach with a high level of both online and in-person customer support, you’re putting your dealership in the best position to capture as much business as possible, regardless of the consumer’s buying preferences.

Changing and Thriving during COVID

Steve Gori has transformed the way he conducts business during COVID-19 and his dealership, CarLink, is thriving as a result. While his independent dealership was closed down for three weeks due to New Jersey’s mandated state shutdown, Gori quickly worked with his staff to change the way they handle leads by implementing a weekly and monthly follow up plan. He also made sure his staff was more diligent when booking appointments and wouldn’t allow customers to leave without a car when they made a preset appointment, even if it meant making a smaller margin or breaking even on a unit. Once the vehicle sales were completed, Gori delivered vehicles to his customers while adhering to his state and CDC guidelines. At times, his staff were delivering cars out of state and as far away as 350 miles from their dealership. This shift in operating procedures has resulted in CarLink experiencing record sale months and the lowest inventory point in years. Despite all the extra effort, Gori says the results have been well worth it.

Not all Heroes Wear Capes

Kevin Wallace was at his dealership, Car Solutions in Del City, OK when he spotted smoke across the street at a daycare. He noticed the smoke was coming from a carport behind the building, but once closer, realized the fire was quickly growing. Wallace dashed in the daycare to the closest room, which happened to be an infant room with 8 babies inside. Despite being in the process of undergoing treatment for leukemia, he immediately jumped into action and with the help of the daycare’s staff, was able to quickly get all of the babies safely outside. He then went room by room making sure the remaining children were safely escorted out of the building. Wallace was the last one out and just a few moments after getting safely outside, smoke had engulfed the entire building and everything in front of them went black. His quick actions helped save 22 children and 3 staff members. In honor of his courageous actions, Wallace recently received a Good Samaritan Award from Del City.

Feeding Those in Need

As part of their ongoing support of Gleaners Food Bank, NextGear Capital’s donation from the James M. Cox Foundation was put to good use over the summer. The $25,000 donation went to support programs like the Mega Fresh Mobile Distribution which was the largest food distribution of its kind in Indiana history and the No One Runs on Empty Campaign. While NextGear Capital has always been a supporter of Gleaners, the past few months saw an increased need due to the current pandemic. Gleaners distributed 13.8 million pounds of food just in the months of March and April which was up from 6.7 million pounds from the same time the previous year. Gail Lowery, Chief Philanthropy Officer of Gleaners Food Bank said that without the support of organizations like NextGear Capital, they wouldn’t have been able to be there for so many people who rely on their services.