A successful NIADA BHPH Super Forum wrapped up Friday at the Austin Hilton after several more great breakout sessions and the popular dealer round tables.
NIADA Vice President Jeremy Beck challenged dealers to use the information garnered over the three days to improve their businesses.
“Don’t let this be just an event,” said NIADA Vice President Jeremy Beck. “Take the information you learned here and the conversations you had with your peers and look at your business critically.
“Thank you for putting in the time and making the commitment to be here to invest in yourself.”
Before departing, dealers spent more than an hour holding round table discussions about their businesses. They discussed advertising, marketing, compliance, employee retention, inventory, reconditioning, collections, warranties and capital.
“It was good to sit with different dealers and here their experience,” said Sabastian Jung of Atlanta. “There were some things I’m going to go back and implement.”
Kenneth Detty of Indianapolis added, “It was a good exchange of information. There were some ah-ha moments. Overall, it was good to compare notes.”
In the breakout sessions, Mark Burkholder showed owners the importance of putting a succession plan in place.
“There’s 100 percent certainty you are leaving the business,” Burkholder said.
“A successful business when it starts has the end in sight.”
Planning will help avoid estate issues and limit some of the financial impact of estate taxes.
He suggested getting the next generation involved with CPAs, attorney and financial advisors.
NIADA Vice President of Government Affairs Brett Scott led a compliance and regulations panel with Steve Carstens, Earl Cooke, Adam Crowell and Shannon Robertson.
The panel discussed the regulatory activity affecting the BHPH industry, including recent Federal Trade Commission cases, fees and pricing rules.
“You have to have rules in place and follow them. Most FTC cases come about from consumer complaints,” Robertson said.
Bill Elizondo, Ben Goodman and Jeff Watson put a bow on the event sharing wisdom they’ve gained from visiting with hundreds of dealers. They reminded the BHPH of the service they are providing to people.
“We’re doing a great job for our customers who otherwise couldn’t get a vehicle,” Goodman said.
Registration is open for the NIADA 2023 Convention and Expo at the Wynn Resort in Las Vegas June 19-22. Click here to register.