Kinetic Advantage Partnership Case Study
Kinetic Advantage Partnership Case Study
Market: Houston, TX
Ifran Siddqui has a long history in the automotive industry.
“I’ve been involved in the automotive industry since 1998 when I started on the franchise side as a salesperson at one of the largest Honda dealerships in Houston, Texas.”
Floorplan Growth Since Opening Kinetic Floorplan
Floorplan Amount
Market: Houston, TX
Irfan Siddqui has a long history in the automotive industry.
“I’ve been involved in the automotive industry since 1998 when I started on the franchise side as a salesperson at one of the largest Honda dealerships in Houston, Texas.”
“I got promoted to sales manager within a year and a half and then I took a role as a general manager at another franchise dealership in 2000.” Ifran’s career then took a turn when he went to the Middle East for 3 years and worked for a warranty company. When he returned to Houston, he went back to working for franchise dealerships. After 25 years, he thought he was going to continue doing so, but the global pandemic had other plans for his career trajectory. “I was working for a Penske dealership that closed down at the beginning of the pandemic, and I decided it was time to make a career change and started working at a used car dealership. The owner of the dealership had his dealer’s license but hadn’t been able to dedicate a lot of time to running his dealership, so I helped him get it up and going. After I had gotten some experience, I decided it was time to open my own used car dealership Drive Max Advantage – which I did in 2021.”
“I got promoted to sales manager within a year and a half and then I took a role as a general manager at another franchise dealership in 2000.” Ifran’s career then took a turn when he went to the Middle East for 3 years and worked for a warranty company. When he returned to Houston, he went back to working for franchise dealerships. After 25 years, he thought he was going to continue doing so, but the global pandemic had other plans for his career trajectory. “I was working for a Penske dealership that closed down at the beginning of the pandemic, and I decided it was time to make a career change and started working at a used car dealership. The owner of the dealership had his dealer’s license but hadn’t been able to dedicate a lot of time to running his dealership, so I helped him get it up and going. After I had gotten some experience, I decided it was time to open my own used car dealership Drive Max Advantage – which I did in 2021.”
Utilizing a Floorplan to Grow His Business
Utilizing a Floorplan to Grow His Business
After his years working for franchise and independent used car dealerships, Ifran was pretty familiar with floorplans. “We had used floorplans at the franchise dealerships I worked at, so I knew the benefits that come with having one, including more cash flow and buying power.”
While Ifran was already aware of Kinetic Advantage as a floorplan provider option, it was an interaction he had at an auction that made him decide it was time to apply.
“When I was helping out at the other used vehicle lot, they had a Kinetic Advantage floorplan so I was already familiar with them and how they operated. I liked how they were transparent about their rates in comparison to their competitors. Then, when I opened Drive Max Advantage, I got referred by CarOffer who recommended I floor my inventory with Kinetic Advantage, and that’s when I decided to sign-up.”
“When I was helping out at the other used vehicle lot, they had a Kinetic Advantage floorplan so I was already familiar with them and how they operated. I liked how they were transparent about their rates in comparison to their competitors. Then, when I opened Drive Max Advantage, I got referred by CarOffer who recommended I floor my inventory with Kinetic Advantage, and that’s when I decided to sign-up.”
In addition to transparency, Ifran also likes using Kinetic 360 to manage his inventory. “I log into Kinetic 360 probably at least 10 times a day. It’s easy to use and I like the new enhancements they made to it in the last year, as well as the new interface. I also like using it to help manage my titles. Their title tool allows me to check on the status of my titles and the title release feature is very convenient.”
Making Moves to Source the Best Inventory
Making Moves to Source the Best Inventory
Since Ifran began his journey as an independent dealer after the pandemic had already started, he didn’t have to deal with some of the challenges other dealers faced. However, he says that inventory constraints continue to impact the industry. “The inventory shortages and price increases in the new car market have impacted the used car market, and we’ve had to deal with higher inventory prices like everyone else. That’s why it’s important to find the best deal when you’re sourcing inventory.”
Ifran says that looking for inventory from multiple sources is key to finding the best-priced inventory. “We do a lot of off-street purchases and I like being able to floor those vehicles and not just the ones we get at auctions. Since COVID, we source more off-street purchases because we can usually get a better deal than purchasing from an auction.”
More Growth on the Horizon
More Growth on the Horizon
As an independent used car dealer, Ifran has found a lot of success and opened a second dealership, Drive Nation, in early 2023. “I have 25 employees who work for me between the two dealerships. Drive Max focuses on inventory priced at $10,000 and under per unit and does in-house financing, and Drive Nation sells a little higher-end vehicles priced at $15,000 and under per vehicle. I average about 140 units combined between my lots.”
Ifran attributes some of his success simply to being comfortable with change and says that other independent dealers should embrace change as well.
“As a used car dealer, it’s important to be comfortable making changes to your sales process. What works today might not work 3 months from now and you need to be able to adapt to the changing market.”
While being able to adapt to all the changes brought on in recent years has helped, Ifran says that the other key has been his Kinetic Advantage floorplan.
“I wouldn’t have been able to grow my business as quickly without Kinetic Advantage as my floorplan provider. It provided me with the ability to get the inventory I need, when I need it. My Kinetic rep, Chuck, has always been really great and helpful, and he’s always available when I need anything.”
“I wouldn’t have been able to grow my business as quickly without Kinetic Advantage as my floorplan provider. It provided me with the ability to get the inventory I need, when I need it. My Kinetic rep, Chuck, has always been really great and helpful, and he’s always available when I need anything.”
When it comes to future plans, Ifran wants to continue to expand his inventory and looks forward to doing so with Kinetic Advantage by his side. “I want to be able to sell between 100 to 150 vehicles between my two locations over the next few months and continue to expand my inventory in the future. I believe that Kinetic Advantage will be able to help me do so.”
