Here's a new concept, Successors: Bring Value!
The opportunities are endless - your dealership is a multifaceted, financially complex business, employing hundreds of different types of people, and accounting for millions of dollars in sales. But when you dive deeper, these dealerships consist of unique mini-economies that compete and thrive off of one another. Each department can be viewed as an interdependent business seeking to generate profit and minimize loss. The front end focuses on sales and exists in a variable world; working with manufacturers to acquire the right product, to sell as many units as possible, at the right price, in order to generate the gross revenue that will result in profit to the bottom line. Conversely, the back end relies on fixed costs, associated with the number of cars that come through the dealership and maximizing the serviceable hours of employees to generate adequate profit to the bottom line. Then there is the unique used-cars world that takes on its own special circumstances in regards to its place in the dealership’s greater-economy. In addition are the ancillary businesses associated with dealerships such as outside insurance sales, collision centers, quick lubes, cafés, employee benefits, reinsurance programs, etc. that co-exist with the major departments and serve as additional profit centers. Each of these interdependent departments can be reviewed for their solvency on a single statement, but ultimately rely on one another to achieve success. In fact, when departments work synergistically, the overall dealership economy produces generous profits, functions seamlessly, and provides a stable source of employment to the local community.