If you hire a controller from outside automotive, expect a steep learning curve How many times has this happened? The Controller you’ve been relying on for years decides to quit. After an exhaustive search for their replacement, you hire a …
Macroeconomic forces will impact our business environment in 2025 It seems that every time we flip over to a new calendar year, the outlook is similar: an unclear feeling on economic conditions, turbulence in the political landscape and huge expectations …
Expert tips on how to start a car dealership in Canada You’ve dreamed of owning your own dealership for years. You’ve carefully thought through the pros and cons, spent time gaining industry experience and building networks. It’s within your reach. …
Let’s explore the pros and cons of the Flat Rate Pay System Dealers are always looking for creative ways to drive profitability. This is especially true in fixed operations, where your service department generates approximately 70 per cent of the total gross …
Increasing interest rates impact dealerships in multiple ways — none of which are good. We have seen an unprecedented increase in interest rates over the past few years. It wasn’t so long ago that you were able to borrow money for, …
A look at what the top leaders within a dealership do to contribute to its success Do you ever think about what your “C-Suite” executives do every day? You see them all the time, walking around your dealerships, shaking hands …
Planning for growth in the retail automotive space requires assessing the risks you might face Professional boxer Mike Tyson has a famous quote: “everyone has a plan until they get punched in the mouth.” I love this one. To me, …
When looking at financial reporting in the dealership environment, not all reports are created equal I admit it, a deep discussion on financial reporting isn’t the most stimulating topic in the automotive space. It’s not the first thing we think about …
How do you track inventory to make smarter business decisions? Dealers have now reset for the new year — new goals, new plans and new objectives. Most expect this year to be one of “normalization” with inventory flows going back to …
A look back at the year that was in terms of dealership financial performance. What a year it has been! This year will be viewed as an extraordinary one in history. A recovery year from the dark times of the …
New tools and techniques like omnichannel marketing, leveraging AI, data and CRM are gamechangers. Can dealers adapt? Technology is quickly changing the automotive industry. The way cars are marketed, sold, tracked and analyzed today is very different than they were …
Dealers need to borrow cash to run their businesses, but not all loan types are the same. Dealers need access to a ton of capital, and I mean a ton! Think about it, no dealership is sitting on enough cash …
