The infographic above is an example of some of the KPIs you should be tracking to successfully create a benchmark for your business. These are just some examples of indicators you could track but of course there are many more that may be unique to your dealership. When making a list of your daily and monthly KPIs, make sure they are easy to comprehend and easy to calculate. This is essential to making sure they are achievable and measurable. Some dealerships find it helpful to create daily reports and send them to their management team at the end of each day while trending more financially driven indicators such as cash flow or EBITDA monthly.
Want to learn more? Contact Trevor Watson at TWatson@lhph.com!