For those in the auto retail business, succession planning is not something to overlook. Champ Rawls, Partner and Succession Planner at The Rawls Group, shed some light on this topic during his recent appearance on The Presidio Group’s Full Throttle Podcast with Jason Stein. The State of the Industry The [...]
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 [...]
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 [...]
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 [...]
As Featured in Oil & Energy Online In the rapidly evolving energy sector, succession planning and growth strategies are paramount, especially for family-run businesses. Kendall Rawls of The Rawls Group, shared pivotal insights at the recent HEAT Show. Collaborating with Fred Lord of Cetane Associates, Kendall presented an enlightening session on "Growth Strategies for [...]
Minority auto dealers face unique challenges when building wealth and planning for the future. With a rapidly changing industry, it's crucial to have a solid growth and succession strategy to ensure financial sustainability. From identifying talented individuals within the organization to expanding investment portfolios, there is an array of strategies [...]
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 [...]
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 the ever-changing fuel industry, dealers seeking to evolve out of day-to-day operations while continuing to secure their financial future must go beyond hope alone. While many fuel dealers aspire to sell their businesses and cash in, others seek secure investment opportunities amid economic uncertainty. The idea of passing the torch to family members [...]
In the dynamic realm of multi-unit franchise businesses, safeguarding your reputation is akin to sailing uncharted waters. Franchise owners often find themselves in a precarious position, lacking control over corporate decisions that could profoundly impact their business. While the association with established names like Subway or Domino's can attract customers, it also exposes franchisees [...]
