What Leads to a High-Performance Business? When you mention the term “high-performance” you usually think of cars, not businesses. What is a high-performance car? We think it is: “A performance car is an automobile that is designed and constructed specifically…
Many business owners believe the sale of their business will be a simple process of choosing a business broker, setting a price, and then deciding where to celebrate after the closing papers are signed and the check is in the…
Dealer Succession Planning: Locating and Installing Leadership Leadership is Essential to Maintain and Grow a Business and Maintain a Good Reputation Imagine working your whole life building a business that is financially successful and has a reputation in the community…
Focus on Volume and Higher Total Gross Will Follow Have you ever seen an item in a retail store and thought “How do they make any money at that price? These crazy people must be losing money!” The reality is…
Proper Preparation is Essential to Your Succession Plans Natural and man-made calamities, catastrophes and complications cause businesses from coast-to-coast to lose billions of dollars each year and most people think conventional business insurance will cover their losses. It may be…
Not everyone looks forward to retirement. Many people, especially those who are in positions of control, power, and esteem, enjoy going to work every day and really don’t like the thought of puttering around the house or going on cruises…
Social Media Marketing on the Top 3 Platforms: a guide for the automotive dealership owner The 2014 CMO Council report on social media within the auto industry revealed findings that, for the third year in a row, potential car buyers…
Engage a Qualified Appraiser with Substantial Industry Experience Dealership business valuations are necessary or advisable for many purposes like buy-sells, business planning, business succession planning, transfer of ownership interests to family members or managers and litigation. Many are surprised that…
The Economic Approach to Determining Reasonable Amounts In many lawsuits, the amount for damages in a settlement are agreed upon between the two parties and paid according to the agreement. The court does not necessarily have to approve the amount…
Everyone is scrambling to see how the new tax law will impact their personal financial lives and businesses, large and small, are doing the same thing. So far it seems that the new law will benefit businesses, and auto dealership…