Rob Racine, J&B Cycle & Marine Co Ltd. calls Chris Brown "a truth serum"
Rob strongly recommends that any dealership, regardless of age or volume, explore their financial well being with the expertise provided by Chris and Lifeline Business Solutions.
"The recent changes in the Motorsport and Marine industry have placed increased pressure on dealership owners to better realize and manage the true operating costs affecting their bottom line. Shrinking margins influenced by increased freight charges, finance lending fees, and in some cases by OEM's looking to win back their losses on the backs of the dealer network. The average retail operation can no longer be just "average" in how they examine the health of their dealership.
Choosing to simply operate as we have done so in the past would only prove results well below average at year-end without any indicators along the road. Failure would be imminent.
Our tendencies have been to measure our performance on how well our cashflow is working or how many more units we have sold this season VS last. Or how busy we think we are? The reality is that all of this will not prove the results we or more importantly, our financing lenders are looking for in a dealership's fiscal performance.
What will matter and make the difference you are looking for? Having a road map, a plan that details the areas within each department and product group that most need your attention is the first item. Understanding the information and checking your progress weekly and monthly will assist you to make the required changes along your way.
We have been advocates of the Spader financial management philosophies for years, however, the analysis that Chris Brown of Lifeline Business Solutions completed has helped our management team identify and understand the areas within our dealership that needed attention most in today's market.
His report outlines and expands on the greater influences and he explains the terminology in ways that we understand. Further to the analysis Chris brings to light the key areas that Banks will be most concerned with during their annual review. Understanding their prospective will empower you to present your position, efforts and the plans you have to make improvements. Ensuring the lowest possible rate and securing existing credit line limits we have come to rely on. All of which will ensure your operations future and allow your business to grow.
As I put it to Chris, Spader has good teaching principles, but you are the truth serum. I would recommend any dealership regardless of age or volume to explore their financial well being with the expertise provided by Chris Brown & Lifeline Business Solutions. Unless you are one of our competitors...you should not ignore what could be the answers to the questions you ask yourself on your drive home. We will certainly be looking for continued "check ups" for years to come".
Sincerely,
Rob Racine
General Manager/Owner
J&B Cycle & Marine Co Ltd.
Since 1970
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