AFC

Showing 177–192 of 219 results

  • Report cards for dealerships

    Fall 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 832

    Abstract: Many principles commonly applied to manufacturers — such as financial “report cards” and continuous improvement — also apply to dealers. This article describes metrics that proactive owners watch to stay ahead of the competition: return on assets, the customer service index, and productivity. A sidebar explains how a CPA gains intimate knowledge of how a dealership runs — and can use that knowledge to help the dealer make more money.

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  • 5 tips for managing inventory

    Fall 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 595

    Abstract: Now, while business may be on a plateau as the industry recovers, it’s more important than ever for dealers to keep their eyes firmly planted on inventory. This article offers five tips to help a dealership keep its supply at a realistic level, including evaluating its Web site and determining whether the best inventory data is being obtained and properly assessed.

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  • Are you a tortoise or a hare? Slow and steady e-responses don’t win every race

    Fall 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 464

    Abstract: Most customers begin the vehicle selection process online, so dealers who implement an effective e-response plan have a leg up on the competition. This article shows the importance of prompt response and the necessity for keeping tabs on competitors’ Web sites.

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  • Go green, create some green – 7 ways to help the environment and your bottom line

    Summer 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 379

    Abstract: Adopting sustainable business practices isn’t only the right thing to do — it also makes financial sense. Dealers can reduce their operating costs with simple facility upgrades and everyday changes. This article offers seven ways to do just that, including putting blinds on westward-facing windows, getting an energy audit, and checking with the manufacturer for initiatives it may be offering.

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  • Leasing strikes back

    Summer 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 753

    Abstract: According to many industry sources, leasing is making a slow comeback. To make sure such leases are profitable, it’s important to make sure that lease payments cover interest costs and the spread between the vehicle’s capitalized cost and its residual value. This article defines those terms, noting that higher actual residual values are making leases more affordable. It also discusses the importance of training staff to explain the pros and cons of leasing to customers.

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  • Cost segregation – Is it time to study?

    Summer 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 766

    Abstract: In a down economy, when dealers struggle to find ways to reduce costs, they might want to consider a cost segregation study, which allows businesses that have constructed, bought, expanded or remodeled real estate to speed up depreciation-related tax deductions. This article shows how a cost segregation study works, the kinds of experts needed to carry it out, and the tax savings that might be expected.

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  • Demystifying health care reform

    Summer 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 988

    Abstract: There’s a lot of confusion about how — and when — the new health care legislation affects businesses. This article answers questions that many dealers may have about the tax credit that’s available to some smaller businesses. And it discusses the upcoming requirement that many businesses must provide health insurance or pay a penalty. It also looks at the tax hikes on wealthy individuals that will come into play to help pay for health care reform, and discusses new IRS reporting requirements. A sidebar offers tips for reducing the cost of employee benefits right away.

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  • 5 ways to stay clear of a factory audit

    Spring 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 657

    Abstract: Dealerships across the country are striving to make 2010 a far more profitable year than 2009. One area that’s easy to overlook is the possibility of a factory audit, which costs a dealership time and, hence, money. With manufacturers also looking hard to boost profits, dealers would be wise to do what they can to avoid an audit. This involves fulfilling factory expectations; getting key people involved; reviewing the appropriate records; avoiding unusual operational activity; and inspecting the service department.

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  • Rev up sales – Don’t let the momentum from Clunkers stall

    Spring 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 892

    Abstract: Cash for Clunkers attracted a lot of attention last year. But, before the publicity completely fades away, there are ways to bring shoppers in the door — and persuade them to buy. This article describes several such techniques. At the same time, dealers will need to balance their inventory needs with their manufacturer’s flexibility — and, if layoffs are necessary, they should be based on performance, not tenure or emotion. A sidebar explains how recent inventory cuts could increase taxes if appropriate steps aren’t taken.

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  • Benchmarking – How does your dealership rate?

    Spring 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 475

    Abstract: In today’s volatile marketplace, it’s harder to get credit and easier to get a franchise taken away. Franchisers and lenders are paying close attention to financial performance — and many have raised the bar on what’s acceptable. But dealers who benchmark their performance against industry standards know their competitive strengths and weaknesses. In turn, they can ask others for best practice advice to turn around weak areas.

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  • Win-win trade-ins – A solid appraisal process satisfies all

    Spring 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 810

    Abstract: Happy car-buying customers are repeat customers, but not all car-buying customers are happy ones. What can make a difference in customer satisfaction is how a dealership appraises cars. This includes formalizing the appraisal process; reconciling data from a variety of public sources; keeping a computerized log of all used car appraisals and cross-referencing the list to avoid contradictory appraisals; and choosing cost-effective and user-friendly appraisal software.

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  • Getting cash to flow

    Winter 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 715

    Abstract: With sales still lackluster at many stores, having enough cash on hand to meet obligations remains a management challenge. The first step in strong cash-flow management is maintaining an organized system for cash accounts. It’s also important to maintain a tight collection policy and to properly account for inventory.

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  • Good reasons for clean cutoffs

    Winter 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 584

    Abstract: When a sale occurs near the fiscal year end, precisely when should a dealer record it? For a sale in which the dealer had completed most of the legwork and crunched the numbers just before the cutoff date — but with the dotted line being signed after that date — it might seem logical to record it at the earlier date. And the factory would likely back this decision, because it bolsters the manufacturer’s year end unit sales. But dealers shouldn’t count their chickens before they hatch; it can cause problems with lenders and other stakeholders, who might claim that the dealer is exaggerating financial results.

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  • Ready, set, get audited – How your audit can be easier next time

    Winter 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 994

    Abstract: With a bit of advance planning, a visit by an external audit team can be brief and predictable. Plus, many offer business improvement and tax-savings tips that could actually make a dealer’s life easier. This article discusses how to prepare for a visit, and how to benefit from ideas the auditor may have gathered throughout the audit process to help improve operations and build value. A sidebar discusses the choices dealers have when accounting for new vehicle inventory.

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  • IRS to step up UNICAP enforcement – Dealerships have until Jan. 1, 2011, to comply

    Winter 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 670

    Abstract: Virtually all automobile dealerships report their inventories improperly, according to the IRS. A Taxpayer Advice Memorandum, TAM 200736026, suggests that most dealerships incorrectly apply Internal Revenue Code Section 263A to calculation of their inventories. Sec. 263A addresses the uniform capitalization of direct and indirect inventory costs. Currently, most dealers deduct these expenses each year by using the simplified retail method, rather than including them as part of their inventories. The agency has recently laid the groundwork to begin serious testing for noncompliance starting next January, and the revised rules affect all but the smallest dealers.

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  • Location, location, location – Is it time for a change of scenery?

    Fall 2009
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 505

    Abstract: If a dealership has been in the same spot for years, chances are the neighborhood is changing — or already has changed. The address might still be an asset, or it might have become a liability. This article lists some factors to consider when evaluating the ideal locale for a dealership. There are also important considerations in regard to renting vs. owning dealership property.

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