2014: What lies ahead
CHUCK SEGUIN LOOKS AT THE ASPECTS OF AUTO RETAILING THAT COULD SIGNIFICANTLY IMPACT DEALERS IN THE NEXT 12 MONTHS With the start of a new year, many of us are wondering what will be in store for 2014. A new …
Author: Chuck Seguin
The technical side
CONTINUING HIS LOOK AT SUCCESSION PLANNING FOR DEALERS, CHUCK SEGUIN TURNS HIS ATTENTION TO THE NUTS BOLTS WHEN IT COMES TO PASSING THE TORCH For all of 2013, my articles have covered dealer succession. We have covered a wide range …
The reinvention of dealer succession
DEALER SUCCESSION IS OFTEN VERY DIFFERENT TODAY FROM WHAT IT ONCE WAS Not that long ago, succession in automotive retail meant transferring the ownership of the business to family members. Many dealers in Canada today are second and third generation …
Sharing strategies
WHY OPEN COMMUNICATION IS KEY TO SUCCESSFUL ESTATE AND SUCCESSION PLANNING IN THE CAR BUSINESS It has been said that a little information, when misunderstood, can create big problems. This is never more true than when dealing with the value …
What do we do now?
QUESTIONS DEALERS SHOULD BE ASKING WHEN IT COMES TO PLANNING AND SECURING THEIR OWN FUTURE It has been said many times that the windshield is 100 times larger than the rearview mirror for a reason. The driver is supposed to …
Preparing for the unexpected
CHUCK SEGUIN SAYS THAT WHILE HAVING A PLAN FOR THE FUTURE IS ONE THING, EXECUTING IT SUCCESSFULLY CAN BE ANOTHER. We often complain that not enough dealers engage in succession planning.There is an implicit assumption that if you plan, it …
Succession and consolidation: Is there a connection?
Why the trend for acquisition is being driven by market conditions Back in 1997 we first surveyed the Canadian dealership community on the topic of succession. At that time, when we examined overall Canadian demographics, we saw this baby boomer …
Preparing an exit strategy solidifies your business
Why having a solid foundation is key when it comes to succession planning It’s that time of year again, when I remind all dealers that its time to review their succession plans, wills, and contingency plans. I know that it …
Minding the gap
OVERCOMING THE DISCONNECT BETWEEN CONSUMERS AND DEALERS WHEN IT COMES TO SOCIAL MEDIA TOOLS As my regular column followers will attest, I often refer to the disconnect between consumers and auto retailers. In the fall of 2011, I was fortunate …
Dealership Pac-Man
Dealership consolidation resembles the Pac-Man video game that was so popular when it was first introduced 32 years ago The visuals created by the memories of this early stage video game are an accurate depiction to visualize what is happening …
Solid investing
Will today’s spending pay off tomorrow? Each and every dealer in Canada is constantly being asked to invest in their dealerships. These requests largely come from OEMs but sometimes they come from other sources, like municipalities, while even competitive dealers …
Is your dealership unique?
DEALERSHIPS ARE NOT ALL ALIKE AND SHOULD NOT BE MANAGED IN THE SAME WAY Traditionally, management systems used by dealers are organized by departments, reinforcing somewhat of a silo approach. Human resources are also managed by department. Dealer financial statements …
