The automotive social network for dealers and dealership management
57 Year old Dealership to be run by 24 YO HELP! Process and structure PLEASE!
I’m looking for some guidance, My grandfather has run a very successful in terms of sales dealership for 57 years, however the financial part hasn’t been as successful, he has left a lot of “loose ends” He passed away a couple weeks ago and my grandmother has asked me to take over and run the company, I’m 24, been in the business since I was a kid, but have always had the “family cover”. I’m looking to run this successfully both sales and financially, I’m looking for some information on setting up a “back office” and looking for some accounting ideas/procedures, any information to help me get the company on track and back in the game so to speak. The dealership is in a small town in Maine, with 3 other used dealerships with in 10 miles, we average 30-50 sales a month with just him as the sales person. Any forms, current procedures/operations would be very helpful! Thank you for your time in advance!
Replies to This Discussion
-
Permalink Reply by Kathi Kruse on -
Hi Timothy. I ran successful dealerships all my life. While I focus more on Social marketing these days, I have spent many years consulting on setting up financial and accounting best practices. If you'd like to call me, we can discuss your needs further. Here's my site: www.krusecontrolinc.com (there is a tab for "dealership consulting"). My email is kathi@krusecontrolinc.com and my phone # 714.251.6440. Even if you just want to get an idea of what's ahead, please reach out. I'm glad to help.
-
Permalink Reply by Dany Carter on -
Timothy I have been a dealer all my life - owned and operated 7 different dealerships at different times - in different parts of the continent. I have since been involved in dealership turnarounds and holding seminars teaching a more friendly sales proces that maximizes every opportunity. I have a software program to evaluate every department of your dealership. I do not need work - but would be happy to talk to you. You can contact me at greg@approvalusa.com and then we can talk more if you would like . You can also see our website - ApprovalUSA.com. Greg Carter
-
Permalink Reply by Wesley Monken on
-
Tim, I highly recommend that you join a 20 group. NADA and NCM run them. It would be helpful, similar to this forum but you will meet 20 similar size stores to exchange ideas and do it in person. The best decision my family made 10 years ago. My dealer friends were excellent resources when my Dad passed away and continue to be today. Good luck!
-
Permalink Reply by A Jay Gould on
-
There are many dealership management systems available to independents that you may need to explore and install. If your still on a manual system surely you have an acountant and/or CPA that has been handling the books.If not you will need to hire one ASAP. The real danger is compliance issues and your failure to properly book a deal. These systems make this much easier and understandable. Your CPA should be able to assertain any pending IRS problems.
I will be more than happy to help with any questions you may have at no charge. I've been in every phase of automotive operations for 50 plus years and yes I know about manual systems. Call me at 713 304 2089 there are pitfalls everywhere unless one knows where to look..
-
Permalink Reply by NANCY SIMMONS on -
Hi Tim, I live in Massachusetts and enjoyed a career as a comptroller for over 30 years. I would be happy to visit with you and in an affordable and convenient fashion, get you organized with processes, internal controls, forms, etc.... This is what I am now doing with some local used car dealers. Give me a call.... Happy to help!
-
Permalink Reply by Brian K. Martin on
-
Timothy,
Good Morning. My name is Brian K. Martin. I'm President of Dealer Management Group. We are a full service dealership development company offering dealership training, Insurance, F&I Products and Investment relationships. I'm sure you have received a lot of feed back and suggestions from a variety of people and companies on how to run a successful dealership.
As with any business one of the keys to success is surrounding yourself with the right people. People that have your business experience, knowledge, integrity, character and honesty are critical to the financial well-being of the dealership. Having the 4P's in your store are critical. They are; People. Policy. Procedures. Pay plan. Next is having a plan for success, not just a goal. Once you build your plan then "Breath it" into your people. Have your goal become there goal by quantifying how the goal can benefit them. Next is leadership. Identify the leaders in your dealership. Remember that everyone wants to be a leader, not everyone is capable. Next is Inspect what you Expect. Simply put, follow the goals though with your managers. And finally, Accept CHANGE. Be prepared to change what you are doing today, tomorrow and next month. Change is a part of life; when you decide to stop the changing, you have decide not to live any longer.
These are the skills that Dealer Management Group teaches and develops inside the dealership we partner with. I hope this gives you the information that you are looking for. If we can help you develop your dealership to preform at it's top level then feel free to look us up at www.dealermgntgroup.com. We are alwasy looking for new partnerships. Best Wishes. Happy Selling.
Brian K. Martin
President
Dealer Management Group
PH (832) 527-1746
Fax (936) 647-1390
brian.martin@dealermgntgroup.com
-
Permalink Reply by Brad Hensley on -
Looks like you have a lot of responses to these issues most of them crap (soliciting like Jack Bennie) but it appears you have some obvious concerns. This is what ADP is for to lean on other dealers for help. My father owns Cars Etc...Inc. in Knoxville, TN and recognized as a top 25 dealer by ADM and at 29 years old, I have just began my dealership in Feb. 2012 called Knoxville Auto Brokers, Inc. so I experience many of the growing pains that you are dealing with just a few months ago. If I can help don't hesitate to shoot me an email or call me directly.
Brad Hensley
brad@knoxautobrokers.com
865-688-4417
- ‹ Previous
- 1
- 2
- Next ›
© 2013 Created by Greg Goebel.
