For all ACADEMY attendees –
On Sunday, May 19, attendees will participate in general educations, sessions, which continue until noon on Monday, May 20.
Success in BHPH can be attributed to the critical decisions operators must make when entering the business and when conducting operations. NABD has developed a comprehensive checklist of these critical decisions with input from experienced, successful operators and industry experts. Each academy attendee will receive the checklist and the academy sessions are designed to help attendees make the right decisions. This tool will serve as an invaluable reference resource after the Academy for both new and experienced operators.
Other education sessions, which will be covered during the general sessions on Sunday afternoon and Monday morning, include a compliance Q&A, building a successful business model, underwriting and collection tips and strategies, and accounting tax, and financial considerations including the latest information on 1099C reporting.
On Tuesday morning, all attendees will participate in roundtable discussions with industry experts on topics covered during the Academy. All Academy attendees are invited to attend the opening sessions and the Welcome Reception at the 15th National BHPH Conference, which follow Tuesday afternoon.
The general education sessions on Monday morning will be followed by fourteen (14) dual track concurrent workshops designed for both experienced and for newer operators. Here are some of the workshop highlights:
Suggested Workshops FOR NEWER OPERATORS – HIGHLIGHTS
1. Acquiring / Financing Your Inventory – Industry expert Greg Lubrani of Liquid Motors shares his vast experience and tips on acquiring the best vehicles including the use of all the latest technology. Greg has considerable vehicle acquisition experience to help attendees buy smarter. Ray Waltz of Nextgear will explain how to structure and intelligently utilize floor plan financing. Remember you can’t sell them if you don’t have them. It all starts here!
2. Avoiding Underwriting Mistakes and Building Capital Market Relationships – Rick Potter, President of CAR Financial, shares his more than 20 years in acquiring installment contracts and providing capital to the BHPH industry. Considered one of the industry’s foremost capital markets experts, Rick will discuss underwriting mistakes, which keep operators from building successful portfolios and from raising needed capital.
3. Finding the Best New Customers While Maximizing Profits –In this session experts will share the latest tips and strategies to attract the best BHPH customers cost effectively. An interactive panel of experts discusses tax refund customers, websites for success, CRM’s, building a strong referral network, and advertising strategies that increase ups.
4. DMS Systems – What You Should Consider – Experts from two of the leading software providers have developed a critical decisions checklist for determining which dealer management system is best for you. You should not make this important decision on price alone and in this session, you will learn to ask all the questions that really matter the most!
5. Payment Devices – What You Need to Know – NABD has conducted three independent national surveys on the use of these devices (disablers and GPS) and has authored three “white papers” which explain the results. Industry experts from Spireon and Passtime will explain the most important considerations in selecting and implementing this technology. Attendees will receive a proprietary checklist for future reference. Device technology mitigates bad debt losses and improves collections.
6. BHPH Training and Information Resources – Learn where attendees can get the best BHPH information after the Academy ends. A panel of experts discusses compliance reference materials, benchmarks, industry data sources, current development updates, twenty groups, and how NABD can help you “see and learn” at the same time! This session will help you stay on top long after the Academy ends.
Suggested FOR experienced OPERATORS – HIGHLIGHTS
1. Capital ‒ Contract Purchasers ‒ Industry experts explain how to maximize your portfolio returns and provide liquidity for your operations. Here you will learn about both bulk sale and point of sale programs. The market for selling BHPH contracts has never been better for those who understand what buyers want and how to build long-term relationships.
2. CPI – Mitigating Losses While Increasing Profits ‒ Collateral Protection Insurance (CPI) has become an important add-on product for the industry. A panel of experts includes successful operators who will explain how to use and implement an effective CPI program, reduce your losses and increase profits and cash flow with this add-on product.
3. Alternative Credit Data, Credit Bureaus and Compliance ‒ In this session experts will explain how to utilize traditional and alternative credit information to pre-screen customers, and the importance of running credit bureaus to obtain vital customer credit-history information and stay compliant. Not utilizing credit bureau information is one of the fatal industry pitfalls. Don’t make that mistake.
4. Implementing a Compliance Management System – Leading attorneys Tom Hudson and Patty Covington will explain how to start and implement a comprehensive compliance management system to help you avoid legal and regulatory mistakes. The CFPB, FTC, and state attorneys general will be “looking under your hood” so everyone is encouraged to get compliant now!
5. Capital ‒ Lines of Credit ‒ Two of the nation’s leading mezzanine capital providers explain where to go if your bank said “no” and how to build better relationships with your lender. If you are new to the industry or seeking a line for your existing operations, you will get the answers to what is expected. Let these pros show you the money!
6. Monitoring Your Performance Using Metrics ‒ If you aren’t using metrics today you won’t be borrowing money tomorrow! What is static pool and loss/liquidation analysis? What is the ROI on your portfolio and what can you expect to make? You can’t accurately predict future losses, cash flow, and capital requirements without metrics. Learn from your losses; don’t repeat them!
NETWORKING OPPORTUNITIES GALORE
The Dealer Academy has an exclusive exhibit hall where attendees can network with other operators and experts. All attendees can also attend the opening sessions and Welcome Reception with exhibitors at the 15th Annual National Conference on Tuesday May 21 at no additional charge.
What All Attendees Receive ‒ In addition to comprehensive information on how to operate successfully today attendees receive free projection modeling software, critical decisions checklists, the latest credible benchmarks and industry updates, compliance materials, and much, much more. For a small investment of time and money, the Dealer Academy can make you million$! Early registration and room discounts expire April 28 so don’t wait. A complete agenda is posted at www.bhphinfo.com.