To Hedge or Not to Hedge…
When considering whether to hedge (or not to), it is important to review the following key factors: Variable Cost Structure: , Fixed Cost Structure, Inflation, and Interest Rates.
How Do You Make It Cold?
How Do You Make it Cold? You cannot control the weather, but you can control the impact the weather has on your business. There is an old joke about some guys sitting together talking about their “best” insurance scam escapades that ends with the line, “So, how do you make a flood?” (If you don’t…
Business Finance 101: Budgeting
A budget is a financial plan based upon your business goals, which forecasts profit and loss within each area of your company to define your net income for the year. Developing a sound budget is all about quantifying your business model for the next 12 months. What are the elements that drive your business and…
Find Your Ideal Profit Level in 9 Minutes or Less
Now that the winter is behind us, dealers are reflecting on how things went financially and how to shift gears for the remainder of the year to get back on track with their annual profit targets. Before you can decide how to pivot, you need to know what target to aim for.
Your Service Department: A Hidden Gem
It's a great time to improve your profitability in your Service (and Installation) department. In the past, the Service department had traditionally been a loss leader for most dealers and, therefore, represented one of the biggest and quickest opportunities for a dealer to grow their profitability. This remains true to this day, despite the fact that most full-service dealers have already transitioned their Service departments from a loss leader to a profit center.