UMass Boston
Prerak’s family came to the United States to emphasize and further his education. He was awarded a full scholarship to UMass Boston and graduated with a degree in information technology (IT).
Business Manager
Prerak Kansara
In this interview we asked Prerak about his path to become a Business Manager at just twenty-one years of age. Unsure of what would be the correct career choice for him, his sister introduced him to the automotive business. From that day, Prerak was interested to learn how to execute the sales process and learn how deals are closed, funded and processed in the business office. Realizing the potential for big commissions, he made sure managers noticed he belonged there.
How Prerak Became a Business Manager
Connecting the Dots
Class of 2017
2015 - 2016
Lexus Dealership
While at university, Prerak got his first part-time job as a valet for a Lexus dealership. Unsure of a career in IT, he decided to focus on the automotive industry instead.
2016 - 2020
BMW Dealership
Prerak took an opportunity as a sales assistant at BMW and soon realized the potential for large commissions, especially in the business office. Prerak displayed such confidence and interest in the industry, that when the dealership needed an extra Business Manager, they offered him the opportunity and paid for the necessary ethics and finance certifications.
Industry Details
In the auto industry, a business manager (also known as an F&I manager) is one of the most important positions in the dealership. This individual (or team) is responsible for all the paperwork involved with the sales process. Obtaining the costumer’s signature on all the necessary forms, obtaining insurance information and the best term of the loan.
Source: financemanagertraining.com, autonews.com & wardsauto.com
Job Outlook
The automotive industry continues to be one of the most dynamic industries in the US, but it continues to be impacted by numerous external influences, like a growing digital retail environment.
Median Pay
$70,000 – $110,000 per year.
Varies on different factors like certifications, experience & dealer.
Required Experience
Dealers are looking for candidates with experience.
Schooling
High school or equivalent.
Either by the dealership or on your own attend a certification class, further your education in the field.
Prerak Kansara
You don’t want to have any regrets.
You might make mistakes, but we all do.
It’s part of life.
Important Skills
As with many management positions, being able to communicate clearly is a very important skill to develop, but it is also important to develop organizational skills and to have patience both with customers and the sales team. It is also important to understand that it might take years to be promoted to a business manager position and it will require long work days.
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