Tuesday, 10:00 a.m. Sessions
How to Identify and Eliminate Waste at Your Dealership
Presented by Kendra Brown – Dealer Principal Brown Family Auto Sales LLC (Houston, TX)
Kendra has a deep passion for seeking out and eliminating dealership operational inefficiencies ever since she started working at her father’s dealership where she increased sale productivity by reducing the time to close a sale by 50% with the implementation of technology. She has built a strong presence in the industry showing dealers how to streamline processes to make their dealership(s) more organized and productive. In working with one dealer principal, she was able to decrease their marketing budget by 70% and increase sales performance by 55%. Kendra will show you what improving your operational processes means and drive efficiency systematically throughout your business, including methods for identifying your own pain points and using metrics to quantify progress.
Real Talk with Three National Rock Stars of Special Finance & Retail
National Dealer Panel Discussion
Panelists: Otto Hahne (MI), Dan Johnson (NY), Joe Mok (IL)
Moderator: Bill Elizondo
These three Rock Star dealers from different corners of the U.S. will open up and share tips, tools, and trade secrets they’ve learned after years in the industry. Each of these panelists has a unique story of how they compete and succeed in the retail market. This is a fantastic opportunity if you are looking for solutions and best practices that will keep you lean and profitable. It’s only 50 minutes, so bring your questions and take advantage of every second with these industry leaders.
Transform Your Social Media Strategy: The ChatGPT Workshop
Presented by Andrew Street – CEO Dealer OMG
ChatGPT is the latest technology in artificial intelligence that everyone seems to be talking about. In this session, Andrew will introduce you to ChatGPT and how to use it to write copy for your dealership website and other marketing outlets. Because this technology is the most cost-effective and lightweight tool around, it provides a really easy pathway for dealers to generate lots of high-quality content in a short amount of time. This is a hands-on demonstration and workshop that will show you how to utilize ChatGPT and how to leverage it to find messages that resonate with your customers.
FTC’s Proposed Motor Vehicle Dealers Trade Regulation Rule
Presented by Matthew Wernz – Regional Director of the Southwest Region Federal Trade Commission
Matthew Wernz, Regional Director of the Southwest Region of the FTC will discuss the proposed Motor Vehicle Dealers Trade Regulation Rule. Among other things, the proposed rule would require dealers to make a number of key disclosures to consumers, including the true “offering price,” excluding only taxes and government fees. Additionally, the proposed rule would require dealers to get consumers’ clear, written consent before charging them for optional protection products and tell customers what the price will be without the offered add-ons. Finally, Matt will provide an overview of the recently effective revised Safeguards Rule.
The Pros, Cons, IRS “Gotchas”, and Basic Mistakes of a Related Finance Company (RFC)
Presented by Bob Parnas – Principal, CLA (CliftonLarsonAllen LLP) & Mike Dunagan – TIADA Counsel
This is an essential and deep dive into related finance companies, starting at the beginning from a conceptual perspective, and taking a long walk through the most critical aspects of the RFC, including the advantages (both tax and operational), accounting matters, some mistakes dealers are making, and IRS Gotchas. This presentation will also provide valuable insight and information to take back to your dealership to help train and provide oversight to your staff. Attorney Michael Dunagan will present with Bob to provide deep insights into the compliance issues related to operating a related finance company.