When Purchasing a Dealership, Due Diligence is Just the Beginning.

Successful acquisitions are a matter of planning and, more importantly, execution. Each step of the plan needs to be executed at the right time for the project to fall into place, on time, and on budget. Making that happen requires a knowledge base of all the challenges you will encounter when adding another store to your group. Below are the general categories of what must happen to make your next acquisition successful.

·      Pro Forma etc. – The  Basics

·      Data Processing

·      Property & Real Estate

·      Systems Infrastructure

·      Parts

·      Existing Contracts

·      Vehicle Inventories

·      New Contracts

·      Fixed Assets

·      Legal

·      Furniture & Fixtures

·      Banking

·      Licenses

·      Forms

·      Insurance

·      Utilities

·      Dealer Agreements

·      Other & Misc.

 

Needless to say, the devil is in the 350+ details associated with these categories. Burdening your current staff with those details only diminishes the effectiveness of your entire organization.

Purchasing a new store and coming out of the chute successfully while keeping your current operations stable and profitable requires the help of a specialist. Robert Benn is that Specialist. With over 30 years in the business, I have experience in Systems, Finance, and Operations. He recently orchestrated the acquisition of large Volkswagen, Hyundai, and Suzuki stores in California out of bankruptcy. It became profitable during each of its first 3 months of operation.

Acquiring another store should increase your profitability, not diminish it. We have a “Passion 4 Profit”®, and that passion is helping you become and stay profitable from day one.

Written By Robert Benn

Written by industry expert Robert Benn, a seasoned professional with a wealth of experience in dealership management and financial strategy. Robert’s insights are grounded in real-world success and a commitment to empowering businesses.

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