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Throughout my retail career, I've witnessed a common misconception: labeling the dealership accounting office as a 'cost center.' This oversimplified view of categorizing departments as either revenue-generating or cost centers fails to capture the true complexity of a dealership's operations. There are two primary strategies at work when a dealership makes money: Generate revenue through …
Continue Reading about Transforming Dealership Accounting: From Cost Center to Crucial Asset →
Over the last 25+ years, I've seen some unbelievable things when it comes to dealership finances. One day, I will write a book but until then, I'll just keep sharing ways to avoid these scary and often costly situations by implementing simple protocols when it comes to money and the people who handle it. I spoke at the NIADA (The National Independent Automobile Dealers Association) convention …
Continue Reading about Cash Crunch, Tax Bills and How a Controller Can Put a Dealer in Hot Water →
This week's article is a guest post from veteran automotive customer experience expert, Laurie Down. She is the person who made all our customers happy at Beverly Hills BMW (ask anyone who worked with her). Since 1994, Laurie's been a driving force in service departments, expertly juggling roles as manager, service advisor, and customer relations specialist - sometimes all of those three at …
Continue Reading about Customers Just Want to Go “Where Everybody Knows Your Name” →
I've basically been a car dealership controller or CFO my whole life. I've worked every job in the car business (except technician), and I've been the leader of my own business for many years, but I've always looked at all business strategy through the lens of a CFO - someone who knows accounting and financials but also provides leadership and operational strategies to protect the organization …
Continue Reading about Driving Blind: The Shortage of Seasoned Car Dealership Controllers →
