Understanding Dealership Financials

Beyond the Wrench

From valet to Dealership Academy Instructor at the National Automobile Dealers Association (NADA), Jim O'Donnell joins us to discuss financial management in a dealership. He highlights how 40-60% of gross profit comes from the fixed ops department, but it rarely gets the attention it deserves. Jim emphasizes the importance of focusing on fixed ops and offers tips for communicating financial information to the team.
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About Our Guest:
Jim O'Donnell
Dealership Academy Instructor, National Automobile Dealers Association (NADA)
[e-mail]
About Our Host:
Jay Goninen
Co-Founder & President, WrenchWay
[e-mail] | 608.716.2122
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Chapters

1. Understanding Dealership Financials (00:00:00)

2. Jim’s Career (00:02:10)

3. Cost of Required Tools for Dealers (00:13:45)

4. NADA Academy & Course (00:20:03)

5. Communicating Financials (00:33:26)

6. Focusing on Fixed Ops (00:37:41)

7. Balancing Profit & Customer Care (00:53:44)