Dealer Insights
Showing 97–112 of 347 results
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Making yours a “destination dealership”
January / February 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 434
Abstract: Some dealerships are developing a customer-first culture in an effort to become a “destination dealership” that brings more customers through the door. This article offers several effective strategies to make your dealership “irresistible,” such as teaching all of your employees basic customer-service skills, cross-training employees and creating an inviting store atmosphere.
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Financial tools – Plunge into your balance sheet for revealing information
January / February 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 581
Abstract: A dealership’s balance sheet can be a useful tool for dealerships that know how to uncover the nuggets of data that lie within these reports. Savvy dealerships use the information to improve their financial performance. This article looks at some of the areas where improvements can be made based on careful examination of balance sheet data, including AR collection and inventory management.
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Are your DOCs dependable? Better management will enhance your reports’ value
January / February 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 673
Abstract: Although many dealer-owners would say they wouldn’t do it, they should be able to make business decisions based on the accuracy of the daily operating control reports (DOCs) they prepare. This article suggests some tips to improve the quality of this continuously generated report, including making your DOC your business’s “dashboard” and overcoming obstacles to sound reporting.
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Case study: How strong internal controls can deter fraud
January / February 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 857
Abstract: This article spotlights the case of a dealership that became the victim of a large fraud scheme. What can be learned from the case is discussed, including what internal controls might have prevented the fraud in the first place. A sidebar highlights a fraud-fighting measure offered by many banks today.
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How to prepare for a sales slowdown
November / December 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 439
Abstract: Vehicle sales are expected to decelerate from the breakneck speed of the past two years, according to some industry analysts. But dealer-owners can strategize now about how to maintain (or exceed) revenue and profit levels in 2018 and beyond even if vehicle sales slow. A key is to focus more sharply on fixed operations (parts, service, paint and body repair) and F&I to drive revenue and profit. This article offers ways to develop loyal service customers and sell profitable F&I products.
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Getting to “yes” – Financial keys to securing a commercial loan
November / December 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 541
Abstract: Dealerships often use a floor plan to finance their vehicle inventory. But a dealer-owner might need another commercial loan or line of credit for an assortment of reasons — for example, expanding facilities, hiring more employees or buying equipment. This article covers some issues dealers should consider when applying for a loan, including the use of GAAP, financial statements to manufacturers, and other hot spots of interest to a lender.
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Is your website all that it can be?
November / December 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 675
Abstract: In today’s car-buying universe, the primary goals of a dealership website should be guiding customers through the car-buying process and motivating them to eventually buy a vehicle from that dealer. This article discusses helping customers find the right vehicle on a dealership website, gearing up the customer for a trade-in and providing useful content related to car-buying and ownership. It also discusses keeping abreast of current online buying trends.
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Now is the time to conduct year-end tax planning
November / December 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 845
Abstract: The end of the year is often a good time for dealership owners to plan strategies for trimming their tax bills. Steps taken by December 31 can save big money come April. This article discusses some strategies that might be beneficial, including deferring income and accelerating expenses, reviewing inventory management, writing off uncollectible receivables and more. A sidebar discusses one commonly overlooked dealership tax-reduction strategy: making tax-deductible contributions to employees’ retirement plans.
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How to generate accurate sales and revenue forecasts
September / October 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 437
Abstract: Sales and revenue forecasting is an integral part of financial planning for any business, including dealerships. Therefore, it’s important to institute a planning process that results in timely and accurate projections on a consistent basis. This article discusses collecting the hard data that goes into sales forecasts and measuring forecast accuracy.
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State and local taxes – Get a clear idea of your SALT obligations
September / October 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 714
Abstract: When a dealership operates stores in different cities and states, it may be responsible to other municipalities and states for payments of state and local income and sales and use taxes. And many state and city governments are ramping up enforcement of filing requirements of out-of-state companies as they attempt to balance their budgets. This article explains the role of nexus and offers suggestions to simplify the process.
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Making the family-owned dealership work
September / October 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 595
Abstract: Family comes first, as the saying goes. But when an auto dealership is a family-owned business, the scope does not end there. Family-run businesses face a host of concerns (as well as benefits) that non–family-owned businesses don’t encounter. This article highlights the upside and downside of family dealerships and discusses some key issues, such as compensation for family members and the importance of succession planning.
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What would you do in a disaster?
September / October 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 728
Abstract: Planning for possible disruptions to the business is one of the most important responsibilities for a dealership owner. This includes disruptions caused by disasters such as hurricanes, earthquakes, cybercrime, terrorist attacks and server crashes. This article explores the process of creating a disaster recovery and business continuity plan, including setting objectives, assembling a disaster team and assigning tasks to its members. A sidebar addresses the role of insurance in a natural or man-made disaster.
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EEOC rules – Background checks require caution
July / August 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 309
Abstract: One of the best ways to guard against employee fraud is to conduct thorough background checks before hiring employees. But keep in mind that, if a dealership uses an applicant’s background information to make an employment decision, it must comply with federal and state laws that protect applicants from discrimination. This article highlights EEOC nondiscrimination laws.
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Making your website all that it can be
July / August 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 622
Abstract: An auto dealership’s website is a key part of its customers’ online shopping and buying experience. This article offers questions one can ask to determine if a dealership website is up to par.
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Cash is king – How to improve your cash flow stream
July / August 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 822
Abstract: Increasing sales and revenue is a top priority at most dealerships, as it should be. But in their drive to boost sales volume, some dealerships lose sight of another aspect of their financial management that’s just as important: cash flow. This article discusses frozen capital, and ways to thaw it out, including taking a hard look at vehicle receivables, vehicle inventory, manufacturers’ rebates and parts and service receivables. A sidebar explores whether a dealer should prepay for expenses, such as insurance, advertising and capital equipment.
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Test-drive these best practices to rev up your used car operations
July / August 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 773
Abstract: Used car sales represent a hefty chunk of revenue and profits for many dealerships. They also can help diversify a dealership’s income stream. This article looks at managing used inventory, varying used car sourcing and reconditioning vehicles efficiently.