What’s up CEOs!

There are several reasons why dealers choose to get into the car fleet business. Here are a few potential benefits and motivations:

1. Profitability: Car fleet businesses can be highly profitable. By owning and managing a fleet of vehicles, you can generate revenue through various rental arrangements both short term and long. With efficient operations and proper pricing strategies, you can generate a steady stream of income.

2. High Demand: There is typically a consistent demand for car rental services. Many individuals and businesses require transportation solutions for various purposes.

3. Diverse Customer Base: The car fleet business allow dealers to serve a wide range of customers.

4. Flexibility: Running a car fleet business can offer flexibility in terms of managing your schedule and operations. You can decide on the types of vehicles to include in your fleet, set rental rates, and choose the target market that aligns with your business goals.

And to...

What’s up CEOs! 

If you're a licensed dealer, you handle sensitive customer information. it's important to be aware of the Federal Trade Commission's Safeguard Rule. This rule sets standards for protecting customer information and can help prevent data breaches and identity theft.

Key Objectives of the Safeguard Rule:

1. Protecting Consumer Data: The primary objective of the Safeguard Rule is to protect the privacy and security of consumer data. It requires businesses to establish policies and procedures to safeguard sensitive information, such as social security numbers, bank account details, and credit card information, from unauthorized access and misuse.

2. Preventing Data Breaches: The rule aims to minimize the risk of data breaches by ensuring that businesses have robust security measures in place. This includes implementing secure data storage systems, encrypting sensitive information, and regularly monitoring and testing the effectiveness of their security...

What’s up CEOs! 

Having the Auto Dealer Business School in your business can be a great advantage, as it provides access to networks, resources, and assistance. However, even with the best education and resources, auto dealers can still make mistakes that keep them from being profitable.

So let's discuss the top 3 mistakes that auto dealers make, which can lead to financial struggles.

Mistake 1 - Money Management

The first mistake that many auto dealers make is not monitoring their finances. It is crucial to keep track of your cash flow, expenses, and profits. You need to know how much money is coming in and going out, and what you have left over. Understanding your finances is critical to making informed decisions and planning for the future. This is something that is emphasized in the training at the Auto Dealer Business School, and it is vital for the success of your business.

Mistake 2 - Revenue Goals

The second mistake that auto dealers make is not selling enough...