Winter 2019
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221 S. Warren St., Syracuse, NY 13202 | (315) 472-9127 |
Karl Jacob

Dannible & McKee, LLP provides automotive dealerships with a full range of audit, tax and consulting services. Our skilled team understands the specific factors involved in operating a profitable dealership, so whether you are a single franchise or large multi-franchise operation, our experts will provide you with the specialized services you need to become even more successful. Because of our extensive experience in this industry, you can always expect high-quality financial and consulting services.

For assistance or more information, please contact Karl Jacob, CPA/PFS, CFP®, CDA at (315) 472-9127 or [email protected] and let us know how we can be of service.

See the big picture — Improve dealership performance with benchmarking

Successful dealerships tend to keep close tabs on their finances and operations by measuring and monitoring certain performance metrics. But these metrics have little meaning when viewed in isolation. A basis of comparison is needed to provide context and relevance to the numbers. This article offers a variety of useful metrics, including sales metrics for each department, F&I metrics, and parts and service metrics. A sidebar suggests some important metrics for the dealership overall.

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Executive compensation requires careful decision-making

Dealership owners, understandably, want themselves and top executives to be compensated fairly for their work, results and interest. So how does a dealer-owner achieve that goal without attracting undue IRS scrutiny and claims of inappropriate compensation? This article discusses the “balancing act” of setting an executive’s compensation and examines the challenges faced by C corporations, S corporations and similar corporation types. It also looks at the role of regulators and the interest by other parties in compensation amounts.

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Sales strategies — Could “no-haggle” selling be right for your dealership?
In recent years, some dealerships have adopted a “no-haggle” or one-price model for selling vehicles. This article explores how the “no-haggle” approach can improve customer satisfaction and boost a store’s bottom line. It also touches on the process of changing from a traditional dealership to one using the one-price model.

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Why you should retain old insurance policies
After insurance policies expire, many dealerships just throw away the paper copies and delete the digital files. In certain situations, though, they may need to produce these policies even after the coverage period has expired. This article examines the types of situations where this might occur, such as with cases of employee embezzlement or sexual harassment claims.

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