Succession planning is pivotal in ensuring the longevity and continued success of businesses, especially within the flooring industry. This complex process requires foresight, strategic decision-making, and careful consideration of both business and family dynamics. Kendall Rawls, Director of Development at The Rawls Group, shared her invaluable insights on this intricate subject with Floor Covering [...]
In the complex world of the car business, successful partner negotiations are crucial for ensuring the smooth retention and motivation of key leaders. Car dealers face unique challenges when aligning expectations, especially in developing and retaining top talent to support growth strategies, enhance business value, secure longevity, and achieve family and business succession goals. [...]
In the fast-paced world of car dealerships, knowing when to pursue a valuation for your business is a question that often puzzles owners. In this video, we explore the critical timing considerations for valuations, focusing on one area that demands precision: wealth transfer within the next generation of dealership owners. [...]
Mastering Objectives and Strategy for a Thriving Future Approximately 20% of new businesses fail during the first two years of being open, according to data from the Bureau of Labor Statistics. Additionally, 45% fail during the first five years, and 65% fail during the first 10 years. However, only 25% of new businesses survive [...]
Ensuring long-term success and sustainability for your dealership goes beyond daily operations. It requires foresight, planning, and the ability to anticipate and mitigate challenges, especially when envisioning a seamless leadership transition. With the complexities of the automotive industry, dealers face numerous hurdles in growing a sustainable business. Let's explore these challenges and find tailored [...]
Succession planning is critical to any business; auto dealerships are no exception. With the automotive industry constantly evolving and facing new challenges, effective succession planning has become more crucial than ever before. Recently, George Karolis from The Presidio Group and Champ Rawls from The Rawls Group discussed the multifaceted landscape [...]
As the saying goes, "failing to plan is planning to fail," - and this statement couldn't be more valid in growing your business. To achieve your vision and ensure long-term success, it's not enough to focus solely on the present; you must also proactively create strategies and plans to turn your dreams into reality. [...]
For family propane businesses, balancing nurturing familial bonds and preparing the next generation for leadership roles can be daunting. Leaving family integration into the business to chance is a recipe for failure, as it can strain your family relationships and the success of your business. Just as you put effort into sustaining and growing [...]
Strategies for Success Today's economic backdrop presents unique challenges, with inflationary pressures affecting businesses across a range of sectors. For franchise owners, particularly those overseeing multiple units, navigating swelling costs becomes a tightrope walk. However, with the right strategies, franchisees can ensure not only survival but also robust growth in this dynamic environment. The [...]
In this enlightening video discussion, Dan Iosue, a succession planner from The Rawls Group, and Scott Womack, an experienced valuation expert from Mercer Capital, take a deep dive into the transformative potential of valuations for strategic growth within the realm of car dealerships. They emphasize that valuations offer car dealers [...]
