We’re joined by Greg Gilmore, President and CEO of The Apex Group, Inc., to discuss the complexities of navigating OEM application processes for dealership acquisitions. Greg shares insights on what manufacturers look for in buyers, common roadblocks and strategies to streamline the approval process.
Key Takeaways:
(02:18) Apex simplifies complex manufacturer paperwork for dealership buyers.
(03:19) Seasoned buyers face fewer roadblocks than first-time buyers.
(07:47) The importance of retention in the automotive industry.
(09:05) OEMs calculate working capital based on planning volume.
(12:43) Buyers should prepare for thorough source-of-funds reviews.
(16:54) Consistency across all documents is crucial for application success.
(20:51) Dealers should submit documents in pieces to avoid delays.
(23:05) Work on the floor plan alongside the manufacturer process.
(26:33) Partnering with an experienced general manager is a strong start.
(28:46) Automotive attorneys are invaluable for structuring agreements.
(30:18) Proprietary systems enhance document security and accessibility.
Resources Mentioned:
Driving Performance | Website
https://performancebrokerageservices.com/driving-performance-podcast/
Performance Brokerage Services | Website
https://performancebrokerageservices.com/
Performance Brokerage Services | LinkedIn
https://www.linkedin.com/company/performance-brokerage-services
Greg Gilmore | LinkedIn
https://www.linkedin.com/in/greg-gilmore-033a922/
The Apex Group, Inc. | Website
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