Dealer Insights
Showing 65–80 of 347 results
-
How to manage employees of different ages with insight
May / June 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 553
Abstract: Your dealership’s employees likely represent a mix of age groups. Successfully managing employees across generations requires understanding generational trends while avoiding broad stereotypes. This article discusses traits to keep in mind about Baby Boomers, Generation X members, Millennials and Generation Z members — and suggests some fine-tuning in strategies that managers may want to make.
-
Valuing your dealership – The importance of EBITDAM and earnings quality
May / June 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 604
Abstract: Calculating EBITDAM can significantly affect an auto dealership’s value and potential selling price. This article discusses EBITDAM, along with normalizing and determining the quality of earnings.
-
Tried-and-true metrics are always of value
May / June 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 632
Abstract: The use of metrics is an objective way to measure a dealership’s performance. Well-devised, and accurately collected, analytics can reveal the realities of a business in black and white. This article explains three established metrics that can be a useful record of a dealership’s health: return on assets, customer service index and employee productivity levels.
-
Boost gross profits by improving inventory management
May / June 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 739
Abstract: Smart inventory management is crucial for auto dealerships when one considers the costs associated with stocking excess vehicle inventory. This article encourages taking a comprehensive view of inventory management, and discusses how to manage both new and old stock. A sidebar capsulizes the pros and cons of the two main inventory accounting methods.
-
Digital conversion – Offering a tasty F&I menu
March / April 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 368
Abstract: The F&I department remains a source of untapped profit potential for many dealerships. One way to boost F&I sales and profits is to switch from a paper to a digital F&I menu. This article explores the benefits of this technology and some of the cons.
-
An employee stock ownership plan could be worthwhile
March / April 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 649
Abstract: An ESOP can be a tax-efficient technique for sharing equity with employees as well as a powerful retirement and estate planning tool. This article discusses the characteristics, advantages and limitations of these plans.
-
What is an audit opinion letter — and why is it important?
March / April 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 687
Abstract: A financial audit provides assurance to potential buyers that a dealership’s finances are in good shape. This article details the content of an audit opinion letter, and explains the four possible opinions it might render.
-
6 tips for designing a data security plan
March / April 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 808
Abstract: Auto dealerships can be especially attractive targets for hackers because of the treasure trove of customer financial data they possess. Thus, it’s critical for dealerships to take steps to protect their sensitive data from this genuine threat. This article discusses dealership vulnerability and offers guidelines for designing a data security program. A sidebar highlights cyber-liability insurance as a way to mitigate some of the costs of a cyberattack.
-
Why you should retain old insurance policies
January / February 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 286
Abstract: After insurance policies expire, many dealerships just throw away the paper copies and delete the digital files. In certain situations, though, they may need to produce these policies even after the coverage period has expired. This article examines the types of situations where this might occur, such as with cases of employee embezzlement or sexual harassment claims.
-
Sales strategies – Could “no-haggle” selling be right for your dealership?
January / February 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 735
Abstract: In recent years, some dealerships have adopted a “no-haggle” or one-price model for selling vehicles. This article explores how the “no-haggle” approach can improve customer satisfaction and boost a store’s bottom line. It also touches on the process of changing from a traditional dealership to one using the one-price model.
-
Executive compensation requires careful decision-making
January / February 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 659
Abstract: Dealership owners, understandably, want themselves and top executives to be compensated fairly for their work, results and interest. So how does a dealer-owner achieve that goal without attracting undue IRS scrutiny and claims of inappropriate compensation? This article discusses the “balancing act” of setting an executive’s compensation and examines the challenges faced by C corporations, S corporations and similar corporation types. It also looks at the role of regulators and the interest by other parties in compensation amounts.
-
See the big picture – Improve dealership performance with benchmarking
January / February 2019
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 844
Abstract: Successful dealerships tend to keep close tabs on their finances and operations by measuring and monitoring certain performance metrics. But these metrics have little meaning when viewed in isolation. A basis of comparison is needed to provide context and relevance to the numbers. This article offers a variety of useful metrics, including sales metrics for each department, F&I metrics, and parts and service metrics. A sidebar suggests some important metrics for the dealership overall.
-
How to navigate the online pricing tightrope
November / December 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 416
Abstract: Car buyers who go online reportedly spend about 60% of their overall shopping time doing research there. This makes it critical for dealerships to have an effective online pricing strategy. This article gives tips on how to make difficult pricing decisions.
-
Improve operational performance by improving your forecasting
November / December 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 622
Abstract: Dealerships must make accurate forecasts of their sales, expenses, and gross and net profits to make wise decisions about allocating their resources. This article considers key ingredients of accurate forecasting, including current and seasonal trends and appropriate frequency.
-
Are you a reliable guardian of customer information?
November / December 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 585
Abstract: Given the large volume of personal data typically collected from customers, it’s critical that dealerships proactively secure the information they obtain and store. This article suggests several security measures that can reduce the chances of a data breach at a dealership operation.
-
Vendor reviews: A valuable fraud prevention tool
November / December 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 865
Abstract: Performing vendor reviews can help ensure that both an auto dealership and its vendors are still benefiting from the arrangements. In addition, it can uncover possible vendor fraud. This article highlights types of fraudulent schemes involving vendors and provides guidelines for a comprehensive vendor review. A sidebar provides key questions a dealership should ask during a vendor review.