dealer magazine july 2010

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  • HAGENDURANT

    Classic Chevroletpage 22

    Vol. 17 No. 7July 2010

    Jim Ziegler:Business Sucks...Could It Be You?page 12

    Leadership:The True Measure of a Leader page 16

    Ownership:What is Your Dealership Real Estate Worth? page 17

    Pre-owned Vehicles:With History there is No Mysterypage 55

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  • ABLE OF CONTENTSTJULY 2010

    PRESIDENT AND CEOMICHAEL ROSCOE

    VICE PRESIDENT AND EDITORIAL DIRECTOR

    CLIFF BANKScbanks@Dealer-communications.com

    248-351-2620

    PUBLISHERGREG NOONAN607-264-3359

    gnoonan@Dealer-communications.com

    CONTENT COORDINATORMARIA BURKEL

    mburkel@Dealer-communications.com

    ART DIRECTORJOE BIRCH

    PRODUCTION MANAGERELIZABETH BIRCH

    PRINT PRODUCTIONNICK THOMAS

    COVER DESIGNJOE BIRCH

    COVER PHOTOSRANDY ANDERSON

    CIRCULATION SUBSCRIPTIONRICH JARRETT314-432-7511

    rjarrett@Dealer-communications.comwww.Dealer-communications.com

    NATIONAL ADVERTISING SALESadsales@Dealer-communications.com

    607-264-3359

    Dealer magazine makes every attempt to ensure the accuracy of all published works. However it cannot be held responsible for opinions expressed or facts supplied herein. Nothing may be reproduced in whole or in part without written permission from the publisher. All rights reserved. The publisher encourages you to submit sug-gestions. Submitted materials become the property of Horizon Communications, Inc. and will not be returned. Send material for publication to 330 Franklin Rd., Suite 135A, PMB 386, Brentwood, TN 37027. The editor re-serves the right to edit material; submission of material constitutes permission to edit and publish that mate-rial. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is presented with the understanding that the publisher is not engaged in rendering legal, accounting or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. From a Declaration of Principles jointly adopted by a Commit-tee of the American Bar Association and a Committee of Publishers.

    A PUBLICATION OF

    C O M M U N I C A T I O N S

    Dealer magazine (ISSN 1537-6141) is published monthly by Horizon Communications, Inc., 754 Armstrong Place, Brentwood, TN 37027. Periodicals Postage Paid at Brentwood, TN and additional mailing offices. POSTMASTER: Please send address changes to: Dealer magazine, P.O. Box 16770, St. Louis, MO 63105. Subscriptions are $48.00 per year, 12 Issues per year, monthly. Back Issues, $10.00 each. Make check payable to Dealer magazine. Send to: P.O. Box 16770 St. Louis, MO 63105. Reprint Requests: (412-548-3954). POSTMASTER please send change of address to Dealer magazine, P.O. Box 16770, St. Louis, MO 63105.

    FEATURES Dealer Advocate by Jim Ziegler 12 Business Sucks...Could It Be You?

    Cover Story 22 Hagen Durant Classic Chevrolet COLUMNS From the Chairman 10 Dealer-Assisted Financing Still at

    Risk in House-Senate Conference Ed Tonkin

    Cliffs Notes 11 F&I Profit, Captives and IRS Wealth Squads Cliff Banks

    Leadership by Dave Anderson 16 The True Measure of a Leader

    Ownership 17 What is Your Dealership Real

    Estate Worth? Erin Kerrigan 18 Cut Through the Multiples Focus

    on Real Value Greg Gilmore

    Employee Management 20 Life in the Fast Lane! Chuck Barker

    Sales 51 Millennial Madness! (or How I Missed the Big Boom!) Jim Boldebook

    Finance 53 Pricing Guidelines for Fun and Profit Gil Van Over Pre-owned Vehicles 55 With History there is No Mystery Tim Deese

    56 The New Reality of the Used Car Business Dale Pollak Fixed Operations 58 Wow! A Free Money-Maker Ed Kovalchick

    DEPARTMENTS 6 Editors Note 8 Dealer Mail 54 Dealer F&I New Products 60 Dealer New Products & Services

    SPECIAL SECTION INSERT

    DD16 Joe Ellsasser General Manager Golling Chrysler Jeep Dodge

    DD8 Take Out the Trash and Keep the CRM from Being a Garbage Dump

    DD10 How to Set Yourself Apart in a Competitive Market

    DD14 Eight Steps for Real Reputation Management

    DD20 Turn Your Site into the Ultimate Closing Tool

    DD24 Four Steps to a Super DOC and More Profit

    Full Digital Dealer table of contents on page DD2.

    pg. 25

    4 Dealer July 2010 Dealer-magazine.com

  • DITORS NOTEE

    Just spent a wonderful week in Southern California with my daughters Christina and AJ. You see, AJ left for her school soccer teams summer camp in Georgia the Saturday before Fathers Day, so we couldnt go to Destin for the weekend to celebrate.

    I guess thats why we went when we did...but theres another reason why we went where we did. AJ thinks she might want to go to college in California. Now, truth be told, I dont want her to go to college all the way out in California. Christina is attending the University of Texas in Austin, but thats only half as far. And I went to school there. And TADAs Bill Wolters told her if she ever needed anything just call him up. California is a four-hour plane ride away!

    My first thought, instinctively, was to take her out there and make sure she didnt like it. But that just didnt seem right. Its my job as her father to encourage her to explore, to be unafraid to try new things, to reach for the stars...whatever that is

    to her. So I committed to showing her Southern California in its best light. The three of us had a blast.

    Probably the best day was when we went out to Catalina Island and took the new Zip-line Eco Tour. It takes about two hours...you put on a harness and a helmet and they hook you onto this cable and zip...off you go down the mountain from one platform to the next. Except when we got to the platform, both of my girls had second thoughts. I suppose reading about zipping over 1,000 feet, 300 feet above the canyon floor at 45 miles per hour on a web site is different from actually doing it. AJ has never been one to go on fast rides or big roller coasters and now shes about to hang from a cable moving at 45 miles per hour.

    The instructor was very encouraging but the more he spoke, the more they stepped back. Three people had already gone, then out of nowhere, AJ says, Ill go next. And she did. I once told her being brave isnt not being scared. Being brave is when

    youre scared and you do it anyway. She was very brave.

    Some say a parents job is to raise their child so that they are ready and wanting to leave. And I suppose part of that is get-ting them unafraid to take chances. After we got back, AJ still thinks she wants to go to college in California. She took a chance with that zip-line and apparently she is willing to take a chance to live four hours by plane away from her mother and I for four years, where she knows...nobody. Dont know if she will or not...still three years away, a lot can happen.

    But thats a pretty good Fathers Day present when your daughter is even con-sidering making a move that big...on her own...at age 15.

    Mike Roscoe

    Michael Roscoe Editor-in-Chief

    6 Dealer July 2010 Dealer-magazine.com

  • Jim Boldebook, Thank you for your articles every month in

    Dealer magazine. They always teach me some-thing. I would like to take you up on your offer and request you send me the Words that Work abstract. If you ever hold a conference where you share your knowledge on making media more effective, please contact me.Barry Merrill

    Hello Barry,Thanks for the compliments. All of the writers

    at Dealer magazine put a lot of time and effort into making the magazine the best it can be. The Words that Work abstract is on its way.

    Ill keep your name in our file for future market-ing conferences. Sincerely, Jim Boldebook

    Dave Anderson,I enjoyed reading your article in the April

    2010 issue of Dealer magazine, What I Should Have Learned in First Grade. Bravo!Julie Emberton

    Julie,Thanks for the note! Glad you liked the

    message!Dave Anderson

    Dave Anderson, I just wanted to give you a well done

    on your article in the June issue of Dealer magazine, The Calm Before the Storm. It further helps to clarify a picture that Ive been seeing also. But what I really appreciate is your encouragement to lay solid foundations so that youll be far ahead of your competitors. Our new product were developing can be a key asset in doing that. With launch planned for the end of this year, it will be interesting to see how the economy affects us. Jim HughesPresidentHughes Hunter Automotive MarketingThousand Oaks, CA

    Jim, Thank you for the feedback on the article.

    Its great to be prepared and positioned well. Regardless of what the economy does, well win. Dave Anderson

    EALER MAILD

    Dealer welcomes your letters and after verification will run them signed or unsigned. Letters may be edited for space and clarity.

    Send letters to: 2000 Town Center Suite 1900 Southfield, MI 48075FAX: (248) 351-2699 e-mail: cbanks@dealer-communications.com

    www.ImpactSummit.comStart your dealerships team assent at:

    A Total In-House Training Solution

    DealershipSuccess Guide

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    The processes and commitment Chuck talks about are even more relevant today than ever before. Chucks words of wisdom and the content he teaches will make any store better and more efficient.

    Guy