Automotive Accounting has its own dynamics! We are separate from most industries as we must comply to the manufacturers' specific accounting methods and chart of accounts. What sets us apart from many other industries is the structure of a dealership, whether a single line store or multi-franchinse, we are little businesses within a business. I started this group for Dealer Principals, GM's, Comptroller, Accounting personnel, and Consultants to collaborate ideas regarding topics including but not limited to: Designing an effective business plan, expense control strategies, creating compensation plans which motivate employees, compliance issues, employee law issues, creative marketing strategies, and more....

If we have any Dealer Elite members who are employed by CPA firms who specialize in automotive accounting, we welcome you to join!

Feel free to start a discussion here! Whether you are part of a large automotive group, a medium size, or small dealership structure, we all are confronted with the same challenges and share in the same joys as well!

Nancy,
Thank you...looking forward to this

Clayton

Glad to Nancy, sounds like a great new group.

Any thing that could help me understand what the numbers coming out of that office mean is good to me!!!!!!!

Welcome everyone...I have 30+ years in the business and am very passionate about the industry!

I will be happy to help all of you with questions...even you AJ...get some rest..will Ya???

Please feel free to start a discussion or post a questions! Tomorrow I am going to touch on expense control...Staying Lean and Mean!!! I feel we can all help each other! Love Dealer Elite for Networking! It is like a 20 group at your fingertips with no travel expense attached!

Keep it down will ya peeps are sleeping around here

Nancy,

Great group topic!

Improving the bottomline is crucial looking fwd to the future topics disussed even though I haven't been a GM before. I did run the Doc for three stores Land rover,jag,volvo/ guess im still waiting to be discovered..

Thanks for the invite Nancy! Excellent idea for a group. Love the name. GO LAKERS!!!

Sorry Jack...I am a Celtics fan!

Nancy,
I would like your opinion on how important Fixed Ops is as it relates to the bottom line....

Thanks Jim for your answer. I did start a discussion on this topic, so I welcome all to contribute to the discussion or ask questions related..

Don't overlook the importance of consistently reviewing your needs, negotiated contracts, and the marketplace value of the supplies/services you need

Example - if ABC company gave your neighboring dealership 10% lower pricing to secure their business from their competitor (same size account for them) - shouldn't you be eligible to negotiate the same rate? This happens every day and the market rates can be fluid -- but there is significant hard dollar impact if you can know when to hedge and what expectations to have in negotiations...

Jim,

Thank you

Clayton

What a great name!! Nothing but net!! I wish i would have thought of it:)
I appreciate your energy and effort to put this together!!
Check out www.davidjlong.com that is what im all about.
I look forward to being part of the nothing but net group.
Have a great day all!!

Welcome David!
I am from MA and I thought of the name while I was watching the Lakers cream the Celtics~ LOL
I welcome your expertise to the group! Should prove to be a real interesting forum!!!!

I happen to be a Celts fan myself! One of my buddies is the bigs coach and i just wish they would have pulled it off.

Hey Bobby! Welcome to my group, Nothing but Net...Although discussing basketball might be a little more exciting that discussing way to enhance the bottom line, the latter will help to make us wiser and perhaps a little richer in the makings... I am going to start getting this group a little more active so we can all enjoy a few "swishes" together!

I've enjoyed reading everyone's comments. As a fan of the Celtics myself, and a veteran of the auto business, I feel like I'm on a sports team. Think of the similarities; there seems to be a dwindling number of veterans, newbies are overpaid, and when the new owners are the previous owners' kids or a novice themselves, both teams go bankrupt. It is nice to fine knowledgeable still exist. Keep up the good work Nancy! KP

WHY ARE WE REALLY USING FACEBOOK?
AS A LEAD GENERATOR OR FOR THE“BUZZ”?

Chris Saraceno, facebook has help me in many ways.
Its helped me relearn the car biz all over again.

Facebook, the third largest country in the world with 1/2 billion users, means so many different things to so many different people! The on line community has provided so much joy to my life by meeting friends who I have never met in person, but I consider trusting and loyal friendships! In terms of an educational tool, daily training, inspiration and motivational posts, mixed in with a lot of good clean humor and fun, have forged friendships with car folk enhancing my quality of life! As a networking tool, facebook allows business contacts to network in a more relaxed and casual setting, really humanizing the concept of social media! Facebook has changed my life taking me away from the television and into this country which offers something for everyone!

Just wanted all of you to know that STP Ventures, LLC is a full service IT company that knows the internet and the social media. We will be more than happy to discuss with you what you and your dealership(s) should do to make yourself know on facebook, llinked in, and twitter. Feel free to e-mail me at Kenneth.Roach@stpventures.com if we can help you.

STP Ventures has also just built a new CRM for the automotive industry that has more functionality and user friendly. If you would like to talk with us about this product and other technology services that we can help you with please e-mail me and we can set up an appointment or conference call.

Please Belong To Tailor Your Techniques on http://www.dealerelite.net/group/tailoryourtechniques
Where We Bring The Old School New School Trainning Techniques And Tailor Them Everyday!
Lets Here It From Both and Fuse Them Together!

March%20-%20April%20Newsletter%20-%20Publishable.pdf

 

Hey group!  This is our newsletter for this month.  If you are interested in the control of expenses in Energy. Lighting, or Garage Insurance - check this issue out.

Let me know if you have questions!

Ryan

Dealers spend billions of dollars to find prospects to purchase their products and services.  Yet they spend hardly anything to consistently train and monitor and set minimum standards for their Managers and Salespeople.  Who is responsible for training in a dealership.  "The Owner" is and always will be.  What ever is important to the owner will be important to the employees.  If the owner is only concerned with profits, the employees will only be concerned with profits.  If the Owner is concerned with the policies, procedures and constant training of those policies and procedures which will in turn generate profits, the employees will too.

Why bring in more people and allow your untrained, out of date salespeople to handle them poorly.  I

If the Mangers do not train their people, the customers will.  If the Owners do not train their Manager, the salespeople will.  Bottom line is your people will be doing what the customers want them to do instead of the procedures necessary to allow the customer to make a decision.

Take 50% of your advertising budget and hire a greeter to count your customers, install an up system to make your salepeople accountable and make your Managers work with real closing numbers.  Spend money on hiring the right people and some sort of consistent training program and put the rest of it into bonuses based on increased performance for your sales crew as a team.

Keep an eye on Auto-Renewals!!!

 

Are you currently tracking all of your supplier agreements?  We are starting to see uniform contracts stretching to 7 years recently. 

Rule 1 - nothing over 36 months

Rule 2 - no auto renewals - negotiate and take bids after every term to assure your pricing is consistent with the current marketplace.

 

If you need a contract tracker template, we have an Excel one we distribute via Dealer Magazine - just reach out I will email one your way!

 

Have a safe holiday weekend!

 

Ryan