June 2010

Cover Stories

- 4 ratings

Technology: How has it made your life easier? - Featured

Peter Salinas - page 10

We bemoan the fact that when we purchase a new cell phone or HDTV the instruction books are two inches thick and may read like they were originally written in a different language and translated into English poorly. Then there are those that complain when they need tech support for a new gadget or software neither the tech nor the support is on the other end of the line. Technology is a fickle mistress. You couldn’t image life without her, but she can drive you crazy.

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- 2 ratings

Leedom BHPH Convention Seeks to Help Dealers Build Success - Must Read

Industry Releases - page 19

Leedom BHPH Convention Seeks to Help Dealers Build Success

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- 2 ratings

Service Franchises: Driven Brands Offers Dealers Low-Cost Entry to Meineke, Maaco Franchise Opportunities - Must Read

Peter Salinas - page 26

Last year more than 2,000 franchise dealers closed their doors, and thousands more independents shuttered their operations as well. That left fewer, but stronger, players in the automotive retail marketplace and more than 32,000 fewer dealer service bays open to the public at a time when consumers are holding on to their cars longer.

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- 6 ratings

Is Your RFC Safe? - Must Read

Peter Salinas - page 34

At least two buy here-pay here dealers recently had the Internal Revenue Service attempt to collapse their related finance companies after audits by the service—begging the question whether this is a result of poor business and accounting practices or a change in federal temperament toward the common dealer-RFC (related finance company) business model.

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Online Best Practices

- 4 ratings

My Facebook Philosophy: Relationships Main Course, Social Networking the Spice - Featured

Peter Salinas - page 8

I’m on Facebook. There I said it. I didn’t think I would ever join, but now that I did, I like it. If any of you dealers out there want me to “like” your stores, check out your special marketing programs, or you’d simply like to follow me so I could follow you, I’d be honored. If all of you were to “friend” me, I’d have more friends than nearly all of my existing friends have combined. That would be cool.

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Corner Office

- 7 ratings

I'm Concerned—Are You? - Must Read

Chris Leedom - page 4

I must tell you that generally we try not to be a lightning rod for controversy and commentary. Sure, every now and then we express our view on an issue that is near and dear to dealer-owners, however, we usually take the posture of encouraging an opinion, without suggesting one singular opinion should rule. For instance, we have always said “vote,” but have not expressed for whom one should vote.

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Financial Insights

- 2 ratings

Technology Boosts Profits - Featured

Dr James Garvin - page 14

One of the great things about writing this column is that you get to ponder a lot of different things, and this month really opens the door on that whole pondering thing. Technology. Technology, technology, technology. When I was kid, lying in my backyard, gazing up at the stars, I remember my sister saying, “You know, they say it will be someone our age that will someday walk on the Moon—technology is moving that fast.”

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Buy Here - Pay Here

- 3 ratings

Open Letter from Leedom Convention Chairman - Featured

Chuck Bonanno - page 6

Hello, my name is Chuck Bonanno and I have the honor and privilege to serve as Leedom Group’s 16th Annual Buy Here-Pay Here National Convention Chairman this year. Last year, we identified the fact that we live in a new BHPH world and that the entire used car landscape had, and was continuing to change, at an incredible pace. We discussed the challenges and opportunities and helped dealers create a strategy for this new world. This year we will take this concept one step further. We will use this convention to offer you the tools to succeed in the New Buy Here-Pay Here World. As a matter of fact, we are so excited about our Buy Here-Pay Here industry, we moved the convention up by three weeks. We simply just can’t wait.

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Guest Columnist

- 3 ratings

What’s Your ROI? - Featured

Rob Hagen - page 16

So far in 2010, I’ve conducted several social media seminars for auto dealers, and there is a huge curiosity to learn but also some confusion. Social media is being tagged a sales tool when in reality, it is more about your bottom line!

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- 2 ratings

In the Eyes of Google: Low-Cost Tips to Improve Web Site SEO - Must Read

Staci Striegnitz - page 32

At a time when thousands of sites compete for the first page of Google search engine results pages, there is a way, besides rebuilding your Web site to improve the site’s search engine rankings. Everyone can agree that a first page result for a popular keyword in Google can dramatically change the site’s traffic and success in goal completion.

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Hudson Cook, LLP

- 3 ratings

Vendor Checklist: Keeps You Out of the Hot Soup - Must Read

Thomas Hudson - page 22

Make a note to yourself. Write it on the back of your hand, if you can’t find a piece of paper. It should say “Create Vendor Checklist.”

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Product Launch

- 3 ratings

Software Release: Nowcom Launches Web-based DMS Software - Featured

Industry Releases - page 30

If there’s one thing that worries dealers more than anything else is what’s going on at the store when they aren’t there. Today’s technology can give dealers a window on the store so that can look up all the details of who is working and what’s happening in terms of sales, follow-up and all aspects of the operation from anywhere they have Internet connection.

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Compliance Corner

- 3 ratings

Point and Click Compliance

Maya Hill - page 24

Internet activity is nothing new, but the presence of motor vehicle dealers on the World Wide Web has evolved over the past few years as more and more dealers start to realize the benefits of e-commerce. Although Internet sales are a great way to reach buyers and make the car-buying process more convenient for them, these sales trigger various compliance issues that dealers must consider when structuring their online sales strategies. These issues fall under the umbrella of what I like to call “Point-Click Compliance.” Some issues apply to dealers in all states, because they arise under federal law. Some issues only arise under state law, so they vary depending on where the dealer operates – or, to further confuse the issue, depending on what states the dealer actively markets in as part of its online campaign. Dealers should always consult with their attorneys before implementing an Internet sales strategy and establish a routine compliance program to monitor changes in the law.

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Learn to Lead

- 4 ratings

Plenty of Room at Top: It’s Crowded in the ‘Cesspool of Mediocrity’ - Featured

Dave Anderson - page 12

Many people are under the mistaken impression that the “rat race” means that it’s crowded at the top of the success ladder. Wrong. Where you’ll find crowds are at the bottom, where hordes of people with average ambitions, abilities and attitudes fight it out for survival in a cesspool of mediocrity.

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Online Tacticts

- 3 ratings

Leading Edge? Choosing the Right Software, Provider - Must Read

Allen Dobbins - page 38

Why do so many software companies fail? Most people naturally lean towards a “lack of sales.” Sales are critical, but you can have the best sales staff available, and still fail. There are a number of reasons this happens, so it’s extremely difficult to pin down just one. However, there are a few key factors that standout in my mind. The first one involves the idea that they are incapable of recognizing market changes to stay leading edge. The second factor centers on the idea that they simply do not have the resources or the capital to invest in the evolution of their product(s).

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