EP 10:07 How to Pick the Best Dealership to Work For: Understanding Pay Plans & Making the Right Choice!

In this episode of the Millionaire Car Salesman Podcast, LA Williams and Sean V. Bradley tackle a heavy question within the automotive industry: Dealership Pay Plans! They get into what constitutes a good verses a bad pay plan and how professionals in the industry can effectively navigate them for maximum benefit. 

"I rather see someone in an environment where they have the opportunity, the respect, and are working in a setup that aligns with their financial goals."
– Sean V. Bradley

Both LA and Sean emphasize the importance of understanding dealership environments rather than just focusing on the pay plan itself as the path to financial success! Williams introduces the episode with an appeal to listeners for feedback on audio improvements, setting up an engaging conversation for the audience. 

"Money is a seed; you plant it somewhere and it grows. That's the whole purpose of money." – LA Williams

The discussion provides a deep dive into various components of dealership pay plans, including commissions, draws, low commission rates, packs, front-end and back-end grosses, spins, spiffs, and bonuses. Sean V. Bradley highlights the significance of comprehending these elements and how they interconnect with overall earnings potential. He stresses the importance of choosing the right dealership environment and the value of embracing a mindset geared towards high performance and success, ultimately guiding listeners towards becoming better car sales professionals. 

The episode culminates with thoughts on how to work synergistically with dealerships to optimize pay plans effectively, and LA Williams underscores the role of preparation, training, and responsible financial tracking.

 

Key Takeaways:

✅ Focus on Training and Guarantees: Understanding draw, training pay, and guaranteed compensation is crucial before assessing commission rates and other pay plan components.

✅ Valuing Transparency: Ensure that your dealership provides clear commission sheets and wash sheets to avoid disputes and misunderstandings.

✅ Spiffs and Spins for Extra Earnings: Familiarize yourself with dealership and manufacturer incentives like spiffs and spins to enhance your income.

✅ Track Your Performance: Maintain detailed records of your sales, commissions, and other earnings to avoid financial discrepancies and strategize effectively.

✅ Work Your Pay Plan: Invest time in understanding and maximizing each aspect of your pay plan to ensure you’re leveraging every potential income stream thoroughly.

 

 

About Sean V. Bradley, CSP

Sean V. Bradley, CSP is an entrepreneur, published best-selling author, speaker and award-winning international trainer. He is a 17-time NADA/ATD convention speaker, FranklinCovey Certified Facilitator and has earned the coveted “CSP” designation in the National Speakers Association. Sean is also a member of the elite “Million Dollar Speakers Group” in the NSA and a state association speaker and trainer. He has spoken at over 500 NCM and NADA 20 Groups. Sean started Dealer Synergy over 20 years ago, but has been in the automotive industry for over 25 years. Sean and his Dealer Synergy team are a 16-time Dealers’ Choice Award Winner for being the “Best of the Best Internet Sales Trainer” and “Mobile Media Provider” in the Automotive Sales Industry. 

Sean has personally trained over 100,000 Automotive Sales Professionals in 3,900 unique rooftops. However, he literally influences hundreds of thousands of professionals, in and