As we head into the second quarter of 2022, the impact of chip shortages on vehicle supplies have not subsided.  As a result, many more dealers are facing a steeper challenge of meeting the OEM sale metrics than at any time prior to the pandemic. Even before the pandemic, franchised dealers who we represent have…

Many of you are back from the 2022 National Automobile Dealers Association (NADA) Show in Las Vegas, recharged and ready to take your dealership operations to the next level this year.  It is essential to begin with asking yourselves the following questions: Is your business set up to succeed beyond 2022, long after you’ve retired…

IS YOUR DEALERSHIP IN COMPLIANCE WITH THE UPDATED SAFEGUARDS RULE? The Safeguards Rule, originally released in 2003 under the authority of the Federal Gramm-Leach-Bliley Act, was amended in October 2021 by the Federal Trade Commission.  Unlike the prior version of the rule, the amended rule provides detailed requirements for keeping dealership customer data secure, including…

I often get asked “is this the right time to sell a franchised dealership?” As I help clients buy and sell franchised dealerships, I know that I am not being asked this question because of my legal expertise, but because I often meet with brokers and accountants involved with auto dealers and dealer principals. THE…