Craig Zinn's $80 million Lexus dealership in south Florida gives plenty of treats to visitors of its showroom right at the center of wealthy section of Miami. Built last May, the showroom has several amenities that would encourage customers to remain there.
Zinn's store has two cafes and a boutique that sells high-end Leah Vixamar women's shoes and watches made by TW Steel and Invicta. He also set up a spa and a hair salon, a gym and an office center - the services of which are mostly free.
Zinn said that the plan was "to create a destination." Zinn disclosed that so far, the business plan has worked. Zinn generated revenue and also cut costs, but not in an unexpected way.
Dealer's loaner car fleet has plunged from 170 cars last year to 100, resulting to savings of $900 per month. Zinn, who is CEO of corporate and customer relations for Craig Zinn Automotive Group, said that there haven't been complaints about its not having enough loaner cars.
Furthermore, he is hoping to sell a combined 3,900 new and used vehicles this year at Lexus of North Miami, his first full year in the new building.
In the first quarter, he sold 586 new vehicles and 238 used. Combined revenue from parts, service, the body shop and the boutique total $1 million a month. Zinn said that this is the company's "100% absorption, which is [his] business model." [via autonews]