HOUSTON, TEXAS – The National Alliance of Buy Here Pay Here
Dealers (NABD) announced the successful completion of its sixth BHPH Boot Camp
in North Carolina
on August 2-3. The Boot Camp training was conducted at the operations of iCars
(in Monroe, North Carolina,
just outside of Charlotte),
which is owned and operated by Ingram Walters. “This allowed attendees to
attend classroom training and to receive in-the-field training at one of the
nation’s best operations!” said Ken Shilson, CPA, the co-instructor at the Boot
Camp.
The training featured a
complete tour of the entire iCars operation and included personalized training
sessions with each attendee. The “sold out” program had 27 attendees from 15
different dealerships around the U.S., with varying levels of BHPH
experience. Shilson indicated that the majority of attendees had more than five
years of experience in BHPH, which enhanced networking and best practice discussions.
The Boot Camp training
covered all areas of BHPH operations including building a successful business
model, acquiring and reconditioning vehicles, best underwriting and collection
practices, financial management and monitoring, compliance, technology
solutions, and maximizing recoveries. All attendees received projection
modeling software, a complete policies and procedures and human resources
manual, and other resource materials including legal and compliance materials
supplied by Hudson & Cook, LLP; sample pay plans; a reconditioning plan and
much more.
“For a very modest
investment, attendees received invaluable training and resource materials which
can help make them million$,” Shilson said. “The opportunity to see iCars,
receive individual instruction, and learn best practices provided a unique
experience,” Shilson said.
“It takes capital,
technology, and knowledge to prosper in BHPH today. The old ways of doing
things don’t work like they used to because of increased competition and
different industry economics. Operators must develop new ways to prosper, and
incorporate capital and technology, along with sound operating practices, to
remain competitive. This Boot Camp included participation from three leading
technology providers: Auto Master Systems, PASSTIME, and Spireon. In addition,
Flock Specialty Finance helped attendees understand innovative new ways to
capitalize their operations. The sessions ended with one-on-one meetings with
attendees to develop a strategic action plan.”
For operators who were
unable to participate in the August session, the next Boot Camp is planned for November
8-9, 2014 – also in Monroe,
North Carolina at iCars. NABD
also announced it will hold a Best Operating and Compliance Practices
Conference at the Hilton DFW Lakes Executive Conference
Center in Dallas, Texas
on January 18-20, 2015. The NABD Conferences and Boot Camps together provide specialized
training on all aspects of BHPH operations. “We have moved our next event to
January, 2015 rather than holding it just prior to our National Conference (in
May at Las Vegas)
as we have in the past,” Shilson explained. “This will minimize the length of
time attendees must be away from their respective operations to gain this
important training.”
NABD also announced that it will hold its 17th
Annual National Conference at the Wynn Las Vegas, May 19-21, 2015. For more
information or to register, call 832-767-4759 or visit the NABD web site at www.bhphinfo.com.
NABD
is the only used car special interest group exclusively for the self-finance
industry. Membership is open to anyone in the BHPH industry and to service
providers. Members pay no dues.