Early in my career, I opened a Nissan dealership in Rosemead, California with just the owner and a small team of six others. The location had been shut down for a year before we took over. That’s where I truly learned the ins and outs of the car business, working every role in the dealership (except technician).
Our location was far from ideal—so much so that it was ironic our name was “Freeway Nissan.” We had chosen the name because we planned to relocate to a better spot as soon as we could build a new facility. Despite this, the owner was a very successful Los Angeles car dealer, as well as a marketing and advertising genius. We spent over $100,000 each month to position Freeway Nissan as the go-to local dealership. And it worked—people started recognizing us as a trusted name in the community.
One day, the owner approached us with a creative idea.
One of the things I have always liked about the car business is that if something isn’t going the way you need it to, you can make a change and see the result tomorrow.
“We need more visibility for the store. Find out where we can get one of those big zeppelin-shaped blimps. I want to put it in the sky so everyone can see it from the freeway,” the owner said. This was before aerial advertising was common, so it wasn’t easy to find a company that could deliver. But we didn’t give up. I eventually found a place that made custom blimps, and within weeks, we had one floating above our dealership, proudly displaying “Freeway Nissan” for all to see.
This blimp was massive. It cost us $2,000 a month just to keep it filled with helium, and it flew at least five stories high. Every night, it felt like we were a team during the America’s Cup, wrangling it back down to the ground, stuffing it inside a couple of service bays. One evening, a gust of wind caught it while we were pulling it down, lifting the Service manager, the Parts manager 10-15 feet off the ground! We would often found arrows around the lot from people who had tried to shoot it down.
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But all of pain was worth it because 90% of our customers told us they heard about us because of the blimp.
We were there very late one night working deals and each of us thought the others had taken care of securing the blimp. When we came back the next morning, it was gone. Someone had cut the two-inch ropes that tethered it, and it drifted away, never to be seen again.
While it wasn’t funny per se, in times like this, a little humor helps soften the blow. Our sales manager was scheduled late that day and we needed to break the news of the blimp’s demise to him. He lived in Orange County so we called him and asked him to please look out of his window, up in the sky, for anything that looks like it doesn’t belong there. He replied, “What are you guys talking about?” We asked if he could possibly see the blimp, just in case it had floated due south overnight. Sadly, it had not.
The blimp, the dealership and lessons in financial stewardship.
Taking care of a dealership’s finances can be surprisingly similar to managing a giant blimp floating high above the dealership. Both require constant attention, quick problem-solving, and a willingness to tackle unforeseen challenges. In the same way that we kept our eyes on that massive blimp, ensuring it stayed visible and secure, a dealership’s financial health demands vigilant oversight and strategic maneuvering.
Much like the blimp’s tether ropes, financial stability is anchored by strong processes and clear protocols. The blimp flying high above Freeway Nissan was a powerful symbol of visibility, but its success depended on more than just the helium that filled it. It relied on daily maintenance and a team effort to keep it tethered and safe from the unpredictable forces of nature.
Similarly, a dealership’s financial success depends on the coordinated efforts of every team member, adhering to policies and practices that keep the business grounded and thriving. A missed detail or lack of attention could have serious consequences, just as it did with our blimp drifting away that fateful night.
When the wind picked up and our blimp lifted the service and parts managers off the ground, it was a vivid reminder of how external forces can unexpectedly impact our best-laid plans. In dealership financial management, external factors like market fluctuations, economic downturns, or even unexpected expenses can lift the business off its planned trajectory.
Having a solid strategy and a team ready to react quickly and decisively is crucial. It’s not enough to just fill the blimp with helium, or the dealership with cash flow; both need constant monitoring and the readiness to adapt when things don’t go as planned.
Losing the blimp because of a simple oversight in securing it was a hard lesson in the importance of vigilance.
In financial management, this could be akin to overlooking small discrepancies in specific accounts or neglecting to follow up on overdue receivables. Just as we had to laugh off the idea of our sales manager spotting the blimp in Orange County, financial setbacks require resilience and a willingness to learn from mistakes. The blimp’s loss didn’t end our dealership’s success, but it taught us the importance of diligence, just as every financial misstep can be a learning opportunity for future success.
Ultimately, taking care of a dealership’s financials, much like managing that giant blimp, is about being proactive, staying grounded, and ensuring that the whole team is aligned. It’s about anticipating challenges, maintaining control, and recognizing that, with the right effort and dedicated oversight, both the blimp and the dealership can soar high above the competition.
Controlling expenses is the #1 concern for dealers. Get your FREE Dealer Self-Assessment to see how you measure up against manufacturer-specific benchmarks. Get it today!