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Profit. And cash.

Hal Ethington, Columnist
March 7, 2014

Your CPA is sitting across the desk from you. She just told you that you had a good year. You did $5 million in sales, and had a bottom line of $200,000. “That’s a 4 percent net profit,” she says, sitting back, waiting for your reaction. And what was it you said? Do you remember? I do. You said:... Read more »

Nifty 50 gets 2014 started on the right foot

Dave McMahon, Editor in Chief
March 5, 2014

It’s a new look for the Nifty 50, and it’s a new year that obviously has industry companies ready for big business in 2014. As most of you know, in the past we’ve presented the Nifty 50 in two editions leading up to the Indy show. Now that Indy is no longer in February, it was time for the well-nurtured... Read more »

Is your F&I ‘Power Rating’ on the rise?

Brian Gallmeier, Columnist
March 3, 2014

To your 40-something neighbors with a cabin and a couple driving teenagers, Power Ratings carry bragging rights, and anything over 40 would be a good score. Using 1 point per cylinder, that’s 8 for the SUV or pickup, 4 for the hybrid, 6 for the 1995 LeSabre, 4 for the 1999 Civic, 2 for the lawn mower... Read more »

Do you staff managers, or managers in name only?

Steve Jones, Columnist
February 28, 2014

Manager — mánn-ij-er (noun): Somebody who is responsible for directing and controlling the work and staff of a business, or of a department within it. MINO — my-know (acronym): Manager-in-name-only. Someone who has the title, but does not have the empowerment, responsibility or accountability of... Read more »

Employee development should be treated as a system

Stennis Prochnow, Contributing Writer
February 12, 2014

Editor’s note: The following Guest Column from Stennis Prochnow examines the dealership hiring process, a feat with which he became familiar as owner for 10 years of a multi-line dealership in Michigan. For years, while participating in 20 groups, I have had the opportunity to visit many dealerships... Read more »

Does your dealership make me want to belong?

Sam Dantzler, Columnist
February 11, 2014

The Florida State Seminoles (FSU), my alma mater, had a perfect football season. They carried that record into the BCS National Championship game in Pasadena in January against the Auburn Tigers. FSU had an entire 2013 season of dominating teams, while Auburn became the improbable “Team of Destiny,”... Read more »

A changing consumer shopping experience

Neil Pascale, Columnist
January 31, 2014

When you opened the dealership doors on Jan. 1 to a new year, did you pause to consider the change? The change that has swept this industry — not to mention every other retail sector — compared to just two short years ago? It wasn’t the product in your shop. Oh sure, there has been change there,... Read more »

Power 50 application ready for download

Dave McMahon, Editor in Chief
January 27, 2014

We’ve just closed the books on the 2013 Power 50 dealer awards program, but it’s already time to start looking ahead to the 2014 Power 50 Awards Dinner in Orlando. We continue to get feedback from dealers who saw coverage of the Awards Dinner held during AIMExpo in Orlando this past October. The... Read more »

How is your 2014 compliance plan shaping up?

Peter Jones, Columnist
January 27, 2014

As we begin 2014, I wanted to review important items that every dealership should not only be aware of, but also should have implemented into their dealership operations. As an industry-level member of the Association of Finance and Insurance Professionals (AFIP) and a Certified Compliance Expert, I... Read more »

Use the 15/15 rule for initial customer greeting

January 17, 2014

No, I’m not going to talk about “Season’s greetings ...” I want to discuss the terrible state of greetings in most businesses today — in particular, our powersports dealerships. As a part of my job for one of our OE clients, I was to assess the state of the sales department of some of their... Read more »

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