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There’s nothing quite like the feeling of losing money—not in the thrilling, stock-market-plummet way, but in the "Wait, didn’t we have cash here yesterday?" kind of way. I’ve met so many dealers who are sales superstars, yet at the end of the month, their profit margins seem to evaporate once everything is in for end-of-month. The culprit? Their books. Or, as I like to call them, "The Chronicles …
Continue Reading about Stealing Success: How Messy Books Put Dealerships at Risk →
'Tis the season to be thankful. As we move through the next several weeks of the holidays, I wanted to share a few things that car dealership folks are likely to be thankful for. In automotive retail, your time isn’t really your own. Long hours at the store are dedicated to one thing: making customers feel at home. During the holidays, that mission takes on a unique twist as many shoppers come …
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Throughout my dealership management career, I always relied on integrating workable systems, processes and policies to make everyone's job easier and higher profits more attainable. When Kruse Control began offering social media and online reputation services for dealers, we stood out as one of the few companies advocating for clear social media policies to protect dealerships, which now that I …
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Included in a dealership CFO's responsibilities is identifying operational weaknesses that affect financial performance, such as inefficiencies in asset management, excessive overhead costs, or missed revenue opportunities in sales and service. By pinpointing these areas, the CFO can develop strategies to reduce costs, optimize processes, and improve profitability, ensuring the dealership’s …
Continue Reading about Quick Tips to Identify Dealership Operational Weaknesses →
