Dealer principals today must be on top of their business’ financial performance. Simply knowing your financial stats can make the difference between mediocre and excellent profitability at your dealership.
While the accounting and bookkeeping aspects of dealership operations may not be the aspects of your business that get your blood flowing, they can be very useful for telling you exactly where you stand, where you have leverage in your business, and what decisions you need to make to put your dealership on the path to greater profitability.
There is, as we all know, one particular financial document that can be very useful to dealers who want to grow their business or turn their dealership into a great acquisition target for a deep-pocketed buyer. That document is the P&L report.