Kinetic Advantage Partnership Case Study
Average days a vehicle is on floorplan
Inventory average each month
Market: Charlotte, NC
When you walk into Dream Work Automotive in Charlotte, North Carolina, you don’t feel like you’re in a typical used car dealership – and that’s exactly what Owner TeJay Mauney is hoping for.
“Our independent dealership has 15,000 square feet of indoor showroom and office space so our customers experience more of a gallery aesthetic than a traditional used car dealership. We designed an environment where people are comfortable and want to go to hang out.”
-TeJay Mauney
TeJay got his start in the automotive world by working at a franchise dealership in 2013. “I worked for a Mitsubishi franchise until 2015 and then I took some time off. When I was ready to return to the franchise world, I started working for a different franchise. Each year, I worked at both franchises, I was named one of the top salesmen but my role wasn’t allowing me to grow or fuel my true passion for cars. I decided to put some feelers out and ended up taking a position at a luxury used car dealership. After working there for two years, I needed to change gears a bit so I joined my now business partner at another used car dealership where I took on the role of a sales manager. We helped grow that dealership to 80+ units a month, and after about a year and a half, decided it was time to build our own dealership. We brought on two other business partners and built Alta Auto Group.”
TeJay got his start in the automotive world by working at a franchise dealership in 2013. “I worked for a Mitsubishi franchise until 2015 and then I took some time off. When I was ready to return to the franchise world, I started working for a different franchise. Each year, I worked at both franchises, I was named one of the top salesmen but my role wasn’t allowing me to grow or fuel my true passion for cars. I decided to put some feelers out and ended up taking a position at a luxury used car dealership. After working there for two years, I needed to change gears a bit so I joined my now business partner at another used car dealership where I took on the role of a sales manager. We helped grow that dealership to 80+ units a month, and after about a year and a half, decided it was time to build our own dealership. We brought on two other business partners and built Alta Auto Group.”
While TeJay says that the dealership flourished during the year and a half he was there, he felt that it was time for his original partner, Stephen Bronowski, and him to open their own dealership.
“Within the first year at Alta, we grew the business from selling 20 cars a month to over 50 and assembled a solid team that could maintain that level of sales. I realized that both Stephen and I had the same level of passion and execution for this business, so we sold Alta to one of the other partners so we could move on and build our current dealership Dream Work Automotive.”
Utilizing a Floorplan to Increase Cashflow
Utilizing a Floorplan to Increase Cashflow
TeJay says that getting a floorplan was a no-brainer for him. He had previously used a floorplan at Alta but it was through a competitor.
“The reason why I wanted to get a floorplan was all about the additional cash flow. I wanted to be able to purchase the inventory I need when I need it and also have the cash flow to cover things like maintenance and curtailments so that I can get inventory in front of my customers as soon as possible.”
“The reason why I wanted to get a floorplan was all about the additional cash flow. I wanted to be able to purchase the inventory I need when I need it and also have the cash flow to cover things like maintenance and curtailments so that I can get inventory in front of my customers as soon as possible.”
$750,000
$750,000
Floorplan amount
3
3
Average days to close an audit
He says that it was a previous connection that led him to Kinetic Advantage. “We already knew our rep, Kim, from a relationship we had with her at another company. She went to bat for us since we’d worked with her before and she was able to get us signed up with a Kinetic Advantage floorplan. My Kinetic Advantage floorplan has provided me with the funds to grow Dream Work from 50 units total in the first 6 months, to an average of 42 units each month and I call that the proof of the pudding that Kinetic Advantage was the right way to go.” TeJay says that he’s also a frequent user of Kinetic 360 and likes that it’s easy to use and that all of the information about his floored vehicles are easy to view.
TeJay says that Dream Work was primarily focused on carrying luxury used cars, but they now also offer more affordable options. “Pricing and interest rates in the used car industry have gone absolutely bonkers over the past few years and so has the price to service higher-end vehicles. We’ve found that the maintenance costs associated with luxury vehicles makes it extremely difficult for the average consumer to stay on top of their vehicle maintenance, so we’re sourcing a mix of more affordable, reliable vehicles as well as higher-end inventory.”
He also wants the local community to know that the team at Dream Work Automotive, which totals 8 employees, stands by their inventory. “We feel that some of our competitors have marked up their vehicles too much in recent years to make an insane amount of money and we decided to take a different approach, which was dialing back our prices. By doing so, we’ve been able to sell more vehicles and still increase our bottom line.”
“I also love my rep, Kim. She’s amazing and my Kinetic Advantage floorplan provides me with a level of flexibility with my cash flow that I wouldn’t have without it. I never have to worry about the wheels of my sales process getting clogged up due to a lack of funding.”
“I also love my rep, Kim. She’s amazing and my Kinetic Advantage floorplan provides me with a level of flexibility with my cash flow that I wouldn’t have without it. I never have to worry about the wheels of my sales process getting clogged up due to a lack of funding.”
More Growth on the Horizon
More Growth on the Horizon
Now that Dream Work has been up and running for a while, TeJay and his partner Stephen are in the process of building a maintenance shop, Dreamy Auto Spa. This will not only allow them to do more onsite refurbishment on the vehicles they purchase, but it will also provide customers with maintenance services as well. “We want to turn our vehicles as quickly as possible once we source them from an auction or trade-in, and having an onsite maintenance shop will allow us to do so while also helping our customers stay on top of their vehicle maintenance. We also have plans to open a second location in the future.”
With all of these plans, TeJay says that he’s grateful for his relationship with Kinetic Advantage, who is always there when he needs anything. “The best part of having a Kinetic Advantage floorplan is the communication. Every time I call and have a question or need something, someone is available to pick up the phone and help.”
