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Presenter: Phil Kent: CPA and Partner at Michael Silver & Company CPAs
Original Air Date: November 15, 2012
Program Length: 110 minutes
An examination of benchmarking for both financial and non-financial dealership managers.
Just about everyone uses benchmarks to some degree in their profession. When you just compare your results or experience with peers; this is a simple form of benchmarking. Yet nothing provokes more discussion among dealership managers than questions about what the benchmarks should be and how they should be interpreted.
Benchmarking is a much more sophisticated exercise in both the calculation and application to your dealership and/or your specific dealership department.
Join us for this Webinar as 30-year automotive CPA, Phil Kent outlines the basic, as well as more advanced methods for using benchmarking as a critical profitability management tool.
You will learn:
- About "past-year", "competitor" and "industry standard" benchmarks - similarities and differences
- About "cross-dealership", "departmental" and "expense benchmarks"
- How some benchmarks that are seldom used, yet important to the goal
- How to use "top end" benchmarks to identify areas of weakness
- How to compute and compare critical benchmarks in the dealership
- How to dig deeper when benchmark results indicate a need or weakness