Those of us who have worked in auto retail for any length of time know when the industry is thriving. It's easy to forget the difficult periods when profits are high and the workload is more manageable. However, we've also weathered some hard times, even times when dealerships were shutting down. I tend to adopt a "SWOT analysis" mindset when it comes to business situations. You may be familiar …
Top KPIs for Car Dealerships to Align Expenses with Gross Profit
I've been working with a dealer client who's number one goal is to control expenses. They reached out for help with a common challenge: despite strong sales and revenue, their profitability was suffering due to poor expense management. While they excelled at moving vehicles off the lot, they lacked the financial expertise to identify and control unnecessary spending. This knowledge gap led them to …
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Key Differences Between a Dealership CFO and a Controller
Dealership financial management plays a crucial role in ensuring success and sustainability. Two key positions at the helm of a dealership's financial operations are the Chief Financial Officer (CFO) and the Controller. While both roles are essential for dealership financial health, they have distinct responsibilities and focuses. Understanding these differences is essential for comprehensive …
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Dealership Legal Liability is a Growing Concern for Employees
It's never fun working for shady people. I realize "shady" could mean different things to different people, but in the end, when you work for someone you know lacks integrity or is unable to do the right thing, especially in highly regulated industries like the car business, it's tough going to work everyday and wondering if you'll have a job tomorrow. Working in an ethically compromised …
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