Auto Remarketing Podcast
Kevin Londerholm | June 23, 2020
The Auto Remarketing Podcast recently interviewed Ken Shilson, founder of Subprime Analytics. He discusses his annual BHPH benchmarks that can help dealers gauge how their business lines up with their peers. Ken also offers the key pieces of advice for dealers managing the COVID pandemic:
- Integrate technology into your business. Some tools include web-based DMS providers and payment portals.
- Manage your cash flow with more detail. Keep only essential expenditures.
- Review your business model and make sure it is cash efficient. Is your investment generating enough return for the risk?
- Create metrics for determining what your return is on a loss-adjusted basis and create future forecasted cash flow statements.
- Determine your strategic business plan from an operational perspective AND a financial perspective.
- Be proactive to identify changes in the market.
Here at LHPH Capital, we are helping our LHPH dealers navigate through these tough times caused by the global pandemic. Having already identified the opportunity in the market for leasing used car vehicles has made it much easier to weather this storm. If you are interested in learning more about how LHPH Capital can help you implement the 6 tips above & more, please reach out!
Listen to this podcast from Auto Remarketing here: https://soundcloud.com/autoremarketing/ken-shilson-of-subprime-analytics