We believe that a better understanding of the workings of a dealership helps us to better analyze dealerships and advise our clients. To that end, in addition to researching automotive topics, publishing articles and giving speeches about them, we participate in continuing education workshops related to automobile dealerships. Below are some of the workshops we have completed.

All of the workshops listed were completed through National Automobile Dealers Association University of Dealership Management:

• • WHAT DO YOU NEED TO KNOW ABOUT VALUING YOUR DEALERSHIP – Course Included: Understanding the process of valuing the dealership; Interpreting internal and external factors that may affect the value of a particular dealership; Understanding the difference between two standards of value frequently used in preparing appraisals; Identifying the information needed for an appraisal to be made or for a buyer to conduct due diligence on a prospective transaction; Walking through the steps involved in preparing an income approach in a dealership business appraisal; Understanding the importance of cash flow in an appraisal; and tips for maximizing the value of a particular dealership.

• DEALERSHIP SUCCESSION – Course Covered: 1. Tools needed for bringing children into the business successfully. 2. How to develop a training program for family members that will be supportive of their learning needs and beneficial to business operations. 3. Suggested expectations and measures of accountability for employed children and mentoring managers. 4. Exit strategy options to maximize family member participation and retaining key managers through the use of a management advisory board. 5. Options available for retaining key managers through using golden handcuffs to help bridge the gap for your successors. 6. How to use a Family Business Council to enhance family communication among active and non-active family members. 7. Defining a Family Stock Trust and how to use it to clarify stock transfers to the appropriate family members.

• INTERNET MARKETING – Course covered: 1. implementing a holistic approach to online advertising: Newspapers, T.V., Radio and Web site; 2. Improving Fixed Operations by applying new online advertising methods; 3. making more gross; 4. Solve in-store processes: e-mail to phone to showroom.

• HOW TO IDENTIFY AND PREVENT FRAUD & EMBEZZLEMENT – Course covered: How vulnerable dealerships are to embezzlement if effective internal controls are not implemented; Profiles of embezzlers and important warning signs that they may be at risk; How embezzlement really occurs in the workplace by walking through actual fraud scenarios; When organizations are at the greatest risk; How to implement and “action plan” if an embezzlement takes place.

• PRODUCE DESIRED RESULTS – Course included: Learning how to build powerful and meaningful relationships with others. Gaining insight into how to utilize our awesome ability to communicate effectively; Understanding how to use the power of a positive mental attitude; Learning the five people-principles that always produce desired results; Learning techniques and principles to maximize results through the dealership’s most important asset, people.

• CHINESE VEHICLES: WHAT THE FUTURE HOLDS FOR THE U.S. MARKET – This workshop: (1) provided participants with an overview of the Chinese automakers and their plans to export vehicles to the United States and challenges they will face as they attempt to enter the U.S. market. (2) provided an overview of the Chinese market, its production capacity, sales volumes, market share and top selling vehicles. (3) Reviewed the joint ventures between the global auto companies and their Chinese partners. Provided an overview of select Chinese manufacturers and the challenges they are likely to face – competitive pressures, quality concerns, and such.

• PUBLIC VS. PRIVATE CAPS: WHERE PUBLIC CAPS DO WELL – Course highlighted differences between business models for publicly and privately owned organizations. Demonstrated why public caps do better in various areas and how privately owned dealerships can bridge the gap.

• HOW TO CREATE A SUPER CONTROLLER – Course Covered: How to create your “Super Numbers” and Heat Sheets; Streamlining the month end closing process with a Super EOM Check Off List; Ways to eliminate the top ten “time wasters” for Controllers; The key reports a controller needs to provide for your dealer, GM, departmental managers and how reports equal results; How to determine your Profit Potential – Breakeven Point; Five new profit retaining projects for a Super Controller to do.

• NADA’S LIFELINE TO PROFITS WORKSHOP – NADA 20 Group and Dealer Academy trainers conduct workshop going through every aspect of dealership operation: Cash flow, Receivables (both customer and factory), Absorption, Managing the Four Dealership Inventories Operational items of Fixed Operation (service and parts), and Operation Items of Vehicle Operations.

• THE FOUR ESSENTIALS TO ACHIEVING 100 PERCENT SERVICE ABSORPTION – This interactive workshop introduced four essential steps to achieving 100% service absorption. How to develop a business plan that improves profit margins, increases sales per RO, increases the number of ROs and controls expenses.

• LAYING A FOUNDATION FOR SUCCESS: WHY PEOPLE AND PROCESS ARE THE KEYS TO PROFITABILITY – Identifies real-world strategies to help dealers get the most out of their sales teams, what the most important negotiation is at a dealership, how the “Columbo Question” can help with customer trades, why the Law of Reciprocity is so critical in the selling process, why full price is fair price and how the “Rule of 3s” can help separate the heroes from the zeros when hiring.

• NADA 20 GROUP – Best Idea Session – NADA 20 Group consultant presents 30 ideas from 20 Group meetings that were voted the “best of the best”.

• DECREASING REVENUES, RISING COST; SOLUTIONS FOR DEALERSHIP EXPENSE REDUCTION – Steps dealers can take to reduce expenses, create cost-effective sales incentive programs, and leverage their buying power to negotiate better vendor contracts.

• FEDERAL REGULATORY DEVELOPMENTS IMPACTING AUTOMOBILE DEALERSHIPS – This important need-to-know workshop presented updates on the latest federal government activities impacting franchised automobile dealerships. NADA attorneys covered a variety of new environmental compliance concerns, the current state of the FACT Act, little known capitalization rules, new cost-effective compliance tips and how to avoid legal trouble and save money at the same time.

• COMPLIANCE EXPOSURE THAT CAN CRUSH YOUR DEALERSHIP – Top dealer attorneys focused on potentially devastating compliance issues, from class action lawsuits to aggressive government enforcement activities.

• NADA SUPER WORKSHOP

• ESSENTIAL INGREDIENTS FOR DOUBLING YOUR USED VEHICLE SALES AND PROFITABILITY – Covered eight keys to increasing used-vehicle sales and profits; the newest methodologies from today’s highest-volume used-vehicle operations.

• SEVEN DEADLY EMPLOYMENT SINS – The workshop reviewed the high-stakes wage and hour litigation sweeping the nation and the mistakes dealers frequently make in this area. Demonstrated how common pay plan elements, such as packs and spiffs have become fodder for breach of contract and fraud suits, along with easy steps that can be taken to minimize the dealer’s exposure. It also examined legislative attempts to allow union elections without a secret ballot and the effects of immigration reform.

• THE “HALO EFFECT” OF POWERFUL LEADERSHIP – Covered sixty laws about coaching, mentoring and leading that help strengthen teams, departments and businesses.

• WHAT THE EMERGING MULTICULTURAL CONSUMER MEANS TO YOUR BUSINESS – NADA panel discussed all of the basic demographic trends resonating throughout the market place and presented examples of how some dealers have already begun to reap profitable returns.

• APPLY “SUPERSTORE” STRATEGIES AND TACTICS FOR PRE-OWNED SUCCESS – How used-vehicle superstores continually increase profits, maintain fresh inventories and lead on price in their markets. How the used vehicle market place has changed. Pinpointing strategies and identifying ways to improve sales.

• IDENTIFY AND DEVELOP THE EIGHT “MUST-HAVE” QUALITIES OF EFFECTIVE LEADERS – This workshop presented eight keys to increasing used-vehicle sales and profits; and the newest methodologies from today’s highest-volume used vehicle operations.

Advising Automobile Dealers LLC
We Could Make the Difference

© Advising Automobile Dealers LLC