Guide to Being a Successful Trailer Dealer

### Guide to Being a Successful Trailer Dealer

#### Pre-Sale Guidelines:
1. **Sales Commission Cap**: Ensure the commission for trailer sales does not exceed 35%. Offset potential losses by setting a minimum markup of $100 over the dealer cost.
2. **Completion of Sale**: A sale is only considered complete once the customer has fully paid and taken possession of the trailer.
3. **Deposit Handling**: Recognize that the majority of deposits will be via card, and manage associated fees, which can range from $8,000 to $15,000 annually.
4. **Record Keeping**: Maintain meticulous records of all transactions, including spare parts, paperwork, and errors. This can prevent significant financial losses.
5. **Invoice Management**: Scan and digitally store all paid invoices to ensure thorough record-keeping and accountability.
6. **Payment Terms**: Do not allow trailers to leave the manufacturer without full payment to avoid financial pitfalls.
7. **Avoid Large Payments**: Refrain from accepting large or full payments in advance to minimize the risk of chargebacks, which can lead to significant financial losses.

#### Key Takeaways:
– Strictly adhere to commission caps and set minimum markup.
– Ensure the completion of the sale includes full payment and possession.
– Manage card deposits carefully to account for annual fees.
– Keep comprehensive records of all financial transactions.
– Never release trailers without full payment.
– Avoid taking large payments upfront to protect against chargebacks.

#### Conclusion:
Adhering to these rules can significantly increase the likelihood of success in the trailer business, leveraging the lessons learned from previous generations to avoid common pitfalls.