Avoiding Disaster: How Succession Planning Saved This Dealership

2024-05-22T11:48:37-05:00By |Automotive, Succession Blog|

The Challenge At the onset of the COVID-19 pandemic, Fred Salinas, a 68-year-old dealer principal at Friendly Ford of Crosby near Houston, Texas, was advised by health experts to avoid going into the store. This sudden disruption posed a significant leadership challenge for the dealership. However, the Salinas family was well-prepared due to a [...]

What Makes Some Family Dealerships Win Big Against Corporate Giants?

2024-05-15T15:24:24-05:00By |Automotive, Succession Blog|

Are family-owned auto dealerships destined to fade in the shadow of giant retail chains, or can they harness their unique heritage to outpace the competition? Champ Rawls, a business succession planner at The Rawls Group, emphasizes the delicate balance between maintaining a local, family-owned appeal while integrating the structured practices typical of larger dealerships [...]

Succession Planning and Growth Strategies: A Guide for Minority Car Dealers

2024-03-15T16:57:18-05:00By |Automotive, Succession Blog, Succession Strategies for Minority Car Dealers, Video|

Essential Considerations for Minority Car Dealers in 2024 In today's challenging business environment, minority car dealers face mounting pressures, from increasing expenses linked to new car floor plans to unpredictable fluctuations in used car pricing. Amidst these challenges, the urgency to ensure smooth succession, drive growth, and facilitate effective wealth transfer to the next [...]

Unmasking Entitlement: Protecting Your Dealership’s Success

2024-03-14T17:27:38-05:00By |Automotive, Succession Blog|

In the bustling world of the car business, success hinges on the quality of the customer's experience and the strength of the team behind the dealership. However, there exists a silent threat that can undermine even the most promising businesses: entitlement. Here, we'll explore how entitlement can creep into your dealership, how to identify [...]

Competing with the Big Players: Professionalizing Family-Owned Auto Dealerships

2024-01-12T11:55:55-06:00By |Automotive, Succession Blog|

The Importance of Professionalism in Family-Owned Auto Dealerships In the current corporate landscape, family-owned enterprises are facing challenges as they vie for success against bigger conglomerates and nationally recognized brands. In the automotive industry, where consolidation is prevalent, family-owned dealerships are under significant strain to keep pace with their larger counterparts and stay relevant. [...]

On the Fast Track: Automotive Valuations and Succession Strategies

2024-03-18T16:04:21-05:00By |Automotive, Succession Blog|

In the fast-paced automotive industry, strategic succession planning plays a pivotal role in the long-term success of family-owned car dealerships. The following outlines five key aspects of valuations and provides practical tips for effective automotive succession planning. 1. Maximizing Business Value Through Succession Planning Family-owned car dealerships must prioritize succession planning to enhance business [...]

Roadblocks to Green Lights: Tackling 5 Biggest Hurdles for Family-Owned Car Dealerships

2024-03-15T14:29:42-05:00By |Automotive, Succession Blog|

In the fast-paced realm of the automotive industry, turning obstacles into green lights is the key to securing the future of your family-owned dealership—it's no cakewalk, more like a thrilling rollercoaster ride filled with unexpected twists and turns. Strategic succession planning is the name of the game, and as a savvy car dealer, mastering [...]

Striking a Balance: Family and Business Harmony in Succession Planning

2024-03-15T14:32:54-05:00By |Automotive, Succession Blog|

"That was my dream - to have my kids join me in the family business, but now it feels more like a nightmare!" This sentiment is all too common among business owners who want to build a family business legacy through succession planning. Why does it work well for some families but not [...]

Family Business Valuation and Succession Planning: Understanding Key Triggers and Timing

2023-09-29T15:11:24-05:00By |Advisor Collaboration, Automotive, Succession Blog, Video|

Family businesses are not just about the present; they are about securing a legacy for the future. To achieve this, family business owners must navigate the intricate process of succession planning while also assessing the strategic growth and overall value of their businesses. In this article, we will explore the critical aspects of family [...]

Navigating Valuations and Succession Planning for Car Dealers

2024-01-12T12:30:14-06:00By |Advisor Collaboration, Automotive, Succession Blog, Valuations & Succession Planning for Car Dealers, Video|

In the dynamic world of automotive dealerships, one constant remains, which is change. Whether you're a seasoned dealership owner or a key player in the automotive industry, understanding the pivotal events that trigger valuations is essential for informed decision-making and the continued success of your family business. In this video, [...]

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