The general benefits of a dealer program are well-documented: Capital needs, program support, and competitive purchase prices that help dealers secure immediate cash flow and keep their business growing.
Whether you’re an independent security company or an authorized dealer, there are deeper factors you should consider about your current or prospective program.
Do they offer the right training?
A good dealer program should provide comprehensive training that covers foundation-business operations, creation costs, sales, marketing, funding, installation, and field service policies.
Dealers should have no questions about what a customer or the program itself expects with regard to service. Monitronics’ dealer program, for instance, holds a quarterly training seminar (MoniX) that covers these guidelines.
Training should continue throughout their tenure, too. For example, a dealer whose invoices include recurring adjustments (discrepancies in calculation, time over labor, job number, etc.) should receiving help in submitting error-free paperwork.
Are they flexible with me?
Along with the up-front cash from sold accounts, some dealer programs have the option to keep a portion of their portfolio (making those accounts contract monitored) to collect and keep recurring revenue. Some programs give dealers customizable pricing that enables them to create a desirable package for each customer.
Dealers looking to expand into new markets should find a program without territory restrictions or limitations. They can also find freedom to brand themselves under their own name. These programs provide marketing consultation and customizable materials such as contracts, direct mail pieces, apparel, and vehicle wraps.
Are they there for me?
The best programs reach out to dealers on a consistent basis. Account managers should provide one-on-one portfolio management by reviewing metrics and finding avenues for improvement. Dealers should have a cost creation model that identifies where their costs are going and, at the end of the day, how much they’re making per account.
Simply put, a dealer should feel they’re part of an alliance – that there’s a personal investment in their success.