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Wealth Building Programs for Sustained Success Be sure to register for our upcoming Automotive News webinar on June 25 at 1 p.m. CT. Tim Blochowiak and Rebecca Silvia will discuss how dealer wealth building programs (also known as participation programs) can help dealerships succeed, even during times of uncertainty. https://lnkd.in/g7wa92rn #Protective

Driving success, one priority at a time. When your number one priority becomes ours, success follows. Wayne McClain, VP at Beck Automotive Group, emphasizes the impact of Rapid Recon in achieving their primary goal. A testament to the strength of our software in the automotive space. Join the leading dealers enjoying unparalleled efficiency. #dealershipinnovation #clienttestimonial #reconmanagementsoftware #reconsoftware

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Explore how integrating marketing with fixed operations can revolutionize dealership performance. Join Jason Monaghan from Wikimotive as he shares key strategies that led to exceptional service revenue and vehicle sales. Perfect for automotive professionals aiming to refine their business approach. #AutomotiveInnovation #MarketingStrategy #DealershipGrowth #DMSC2024 Zach Billings Patrick Downes Katie Rouse Brian Pasch, MA Glenn Pasch

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Yes, dealership consolidation is happening... but not to the extent the news coverage insinuates. Still, the overwhelming majority of rooftops across the country are owned by someone who owns less than 5 (93%). Including the operators who own 10 stores or less, that majority increases to 97.3%. While consolidation will continue to occur, especially as dealerships remain so expensive, it’s my opinion that the OEMs’ interests remain aligned with keeping the “mom and pop”/”owner operator” model alive and well. The owner operated model works - OEMs want owner operators who live and work in the community and represent the customer demographic - and OEMs don't want to lose meaningful bargaining power to a handful of large groups. The SBA program was designed to put capital in the hands of energetic, talented entrepreneurs to purchase family-owned businesses where conventional bank capital fails to meet the needs. Today, all of the OEMs are registered to do business with the SBA, yet the program remains only minimally utilized to facilitate M&A in the industry. I believe strongly the SBA loan program is designed in a way that aligns with the owner operator model that is alive and well… but overshadowed at times by consolidation. We want to continue shining light on the SBA program as a beneficial financing option available for dealers. However, it takes a collective effort... specifically on the part of the OEMs, who have subscribed to the same debt-to-equity methodology forever. The hope is not only to continue educating dealers but also the OEMs, who are critical partners in accommodating SBA as a means for acquisitions and retaining talent in their networks. Reach out to learn more today!

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