By: Kevin Roarke, ADT Dealer Acquisitions
It’s a new year, and for entrepreneurs a new year often means new ideas, new possibilities, and new endeavors to envision and then materialize. Maybe you’ve been working for “the man” long enough, and deep down you’re an aspiring alarm business owner ready to call your own shots. Or maybe you’ve already taken that next step, but something is holding your business back from reaching new heights. Either way, an alarm dealership with a reputable partner could be the answer to what you’re seeking.
When considering an alarm dealership, keep in mind there are some points of entry to encounter, such as obtaining proper licensing and staffing qualified salespeople and technicians. But the overall path towards the grand opening and future success doesn’t have to be a cumbersome one. Partnering with a proven and stable program to sell your alarm accounts can help clear the way for you to do what you do best: selling and installing. Below are just some of the benefits a dealer program can bring to the table.
Branding
Generating new alarm customers on a consistent basis requires phones to be ringing and doors to be opening. Without brand recognition, it can be difficult to achieve either, as many consumers tend to buy from a company they know or trust. On the road to establishing your own recognizable and reputable branding, there is no toll-free fast lane to steer towards.
It takes time and money to create, but without it, countless businesses struggle to get the wheels to turn (initial sales) and gain traction (referrals and repeat customers). This problem can be solved on Day One of your new dealership by leveraging a widely visible brand that has already been established for you. Imagine the empowerment of having instant credibility before even running your first appointment.
Chances are you’ll be spending more time closing deals, and less time explaining to customers who you are. As for existing alarm companies, there’s no shame in piggybacking off a proven name to reach a wider audience. It could be the very spark you’ve been missing.
Cash Flow
Having cash on hand at all times is always a good thing. It’s necessary to pay your employees, to buy equipment, and to reinvest into your business. There’s some talk out there that keeping or “in-housing” your alarm accounts to build MRR is the long-term way to go.
While for some that may be true, that model often requires significant up-front capital to absorb the costs of creating each account. It also requires patience, and sometimes a lot of it, to hang on to each account for months/years before returning a profit.
All the while you’re doing your own service work, billing, and customer support ($$$). Why not sell those accounts to a dealer program, get paid a nice sum right away, and then get on to the next one? That consistent cash flow coming in is the buoyancy that will keep your alarm dealership afloat as you strive towards scalability. With solvency comes stability, which is what teaming up with a dealer partner is really all about.
Training and Support
Like any new job or shift in career path, training and support are essential pieces to hitting the ground running. A dealer program is only as successful as the dealers that its buying accounts from. Thus, you as the dealer can and should lean on your dealer program to equip you with the right tools to do the job. On the sales side, the dealer program can help teach anything from generating new leads and setting more appointments, to overcoming objections and ultimately closing more deals.
On the install side, they can coach on designing systems, understanding equipment functionality, managing inventory, and programming. Once accounts are coming in, your need for support does not stop.
Hiccups will inevitably happen, questions will frequently surface, and you’ll need that ongoing support to maintain continuity and your sanity. And maybe the best part of all is that this concierge service is always at your fingertips and free of charge.
If an alarm dealership is indeed right for you, draw up a short list of possible dealer program candidates and do your homework before making your selection. You don’t want to waste your draft pick on a company that doesn’t align with your specific goals and needs. Brand recognition, speed to funding, onboarding, and ongoing support are just some of the important things to consider in the process. In the end, your decision will help shape your future success and prosperity.
Kevin Roarke is a Dealer Acquisitions Manager for ADT Security, based in Austin, TX. He has been with ADT for almost 20 years, spending the last 6+ years recruiting companies for ADT’s Authorized Dealer Program.
Source: snnonline.com