Dealer Strategic Planning Inc. (DSP) has announced that an additional tire retailer 20 group will hold its first meeting in late August.
Dealers from Iowa, Mississippi, Minnesota, North Carolina, Ohio, Missouri, Indiana, Florida, Illinois and the Canadian province of New Brunswick will participate in the meeting, which will be hosted by Jeremy Harris, a tire dealer from Wentzville, Mo.
"I have heard a lot of good things about the 20 groups facilitated by DSP," he says. "Business today is very challenging and by meeting with my peers from all over the country, we can compare notes on how to improve our businesses. I fully expect my membership in this 20 group will give me immediate payback through increased profits."
DSP says the goal of its 20 groups is to help dealers boost their bottom line profits "by learning, sharing best practices, financial benchmarking and access to industry experts. Each month, dealers receive detailed financial analysis which helps them track their performance against the group and industry benchmarks."
Financial analysis is provided by automotive industry consultant Norm Gaither, also a DSP partner.
Gaither says it's "very gratifying when dealers tell me their profits have increased substantially when they implement what they have learned from their 20 group meetings. At the meetings, we see the groups encourage, challenge and help each other in finding solutions to their common problems.
"It's not unusual to see a dramatic increase in bottom line profits beginning with the first meeting."
20 groups meet three times a year for two-and-a-half days. Subsequent meetings for DSP's latest group will be held with a date and location determined by participants, who will be encouraged to share their best ideas and practices.
"Prior to each meeting, dealers compile a list of their most pressing issues and then at the meeting, options for solving those issues are discussed," say DSP officials. "Meetings conclude with a Best Idea Award and specific action plans that will then be reviewed at the next meeting. Dealers commit to actions and are then held accountable by their peers."
DSP says it will continue to form 20 groups "as dealers become aware of this helpful business tool."
For more information, contact Pat Brown, vice president of marketing for DSP, at (419) 420-5915 or via e-mail at [email protected].
