2013-07-01 NABD Prepares Another Summer Boot Camp to Help All Kinds of BHPH Dealers
July 01, 2013
Think you know everything possible about how to run a successful buy-here, pay-here dealership? Are you considering getting into the business and are unsure about what steps to make first? The National Alliance of Buy-Here, Pay-Here Dealers is having another summer BHPH boot camp, and Hall of Famer Ed Bass gave a ringing endorsement after participating in the event a year ago.
"The information is invaluable," said Bass, who ran his own BHPH store in Chicago for more than 50 years.
NABD is not having the boot camp in the Windy City, but rather at iCars, the BHPH lot outside of Charlotte, N.C., owned and operated by Ingram Walters. Walters literally opens up the books and the doors at one of his lots, sharing his complete business plan of how he's sharpened his operation during the past 20 years.
Among some of the topics that will be discussed during a packed two-day session on Aug. 17 and 18:
—Why BHPH makes sense since more than 70 percent of consumers have encountered some kind of financial hardship that impacted their credit history.
—The critical departments of a BHPH operation, including inventory acquisition, sales and marketing, underwriting, collections and compliance.
—Developing a business model that incorporates creating a related finance company, facilities, personnel and working capital.
"It's a chance for you not just to hear about buy-here, pay-here, but actually see it," Walters said.
NABD founder Ken Shilson added, "In the two-day session, we'll go through all aspects of buy-here, pay-here and answer any questions as you see how Ingram's operation is set up."
Later this year, NABD also will host its next East Coast BHPH Conference. The event is in a new location, the Hyatt Regency New Orleans Superdome in New Orleans on Nov. 3—5.
The agenda includes a regulation update and new developments coming from the Consumer Financial Protection Bureau as well as best practices from leading dealers and service providers about underwriting, reconditioning and collections and more.
For more information or to register for the boot camp or the conference, go to bhphinfo.com.