Transform Your Automotive Business with These Growth & Succession Secrets

Successfully integrating family into the business, whether as an employee, manager, or one-day successor, requires having a plan. Next-Gen business owners may need to invest their entire net-worth back into the business to compete with the larger consolidators. This means being less a caretaker of the business as generations past, [...]

Operating a store is hard work, but it is rewarding. A common question we hear is what are the options to keep the dealership(s) as a family asset if no family is interested or capable of filling the shoes as Dealer/Operator. The good news is that the world is your [...]

The competitive landscape for automotive retail requires dealers to think even more about competition and growth. Some think they need to get bigger or get out; however, the bigger question is, what will it take to corner your market and fulfill your strategic vision? In Houston, for example, it will [...]

Formalities commonly do not exist or are lacking in family business environments. For example, we often see no clear direction about what each person is supposed to do, how to get it done, or what they are getting paid for, which opens the door for underperformance and distracting conflict. Consolidation [...]

Some Dealers are interested in privately testing the "sale" waters to determine what is in their best interest but do not want it disclosed. The best way to navigate the waters is to talk to trusted advisors. They know you, know your business, and they have earned your trust, so [...]

Even though Dealers are making money, the future is unclear; for some, the unknown creates anxiety. As a result, we see business owners considering, more than ever, if it is an excellent time to cash out. Succession planning allows you to choose your best outcome – identifying your strategic objectives [...]

Trusted advisors ensure business owners can meet their strategic objectives in all business areas. However, this does not mean that the trusted advisors providing advice on taxation and estate planning or those navigating the legal arena will best serve a business owner looking to grow or sell. Many Dealers lean [...]

Growing does not always mean adding to an existing portfolio. Instead, developing a successful acquisition strategy may include selling to buy more stores. For this reason, it is essential to create a Buy Box™. The Buy Box™ exercise strategically organizes your growth parameters, eliminates distractions, and allows you to zero [...]

It is an exciting time for auto retail dealers. It is a great time to sell and an excellent time for buyers looking to grow strategically. Whether the goal is to sell for the highest price or transfer ownership to next-generation, performance, and profitability are essential. Understanding the value of [...]

It has been some strange times. Over the last couple of years, COVID, inventory shortages, elections, and more have all impacted business owners' ability to do business as usual. No one could have predicted such turmoil could turn into historic profitability in automotive retail. Nevertheless, it has been a fantastic [...]