SEMA/AAPEX 2013: DSP holds budget workshop

LAS VEGAS (Nov. 7, 2013) — For the second year, Dealer Strategic Planning Inc. (DSP) presented a budget workshop for tire dealers during the SEMA Show.

The organization released comments from 20 members who attended the DSP 20 Group's one-day budget workshop, held at the Monte Carlo Hotel in Las Vegas.

Virginia Beach, Va.-based DSP said each 20 Group member is supplied with a history of their detailed 2013 income statement by month on a simple excel flash-drive worksheet. The dealer can view the history and make decisions about upcoming influences on his or her business for the coming year. Without business distractions taking focus away from preparing a budget, DSP said the business owner can finish the day with a business plan completed for 2014.

Chris Cloutier, of Golden Rule Auto Care in Rowlett, Texas, said in a DSP press release that he's "not a numbers guy, so I was a little concerned with writing a budget before the meeting. Norm and Patrick (DSP owner and President Norm Gaither and financial specialist Patrick Smith) have put together a worksheet and class that I quickly picked up on.

"I believe that having a road map helps you get to where you are going, and believe this budget class lays down a solid map for my company's future or at the least for next year. I will be back next year."

Robert Hubert, of Lee's Service Inc. in Reedly, Calif., said "Norm and Patrick have made the budget process so easy. DSP came prepared with all my prior year's data already entered on a flash drive, including all the formulas. All I had to do was forecast the upcoming year by month.

"I have committed this one day to look at next year for my business, I will leave here today with a completed 2014 budget."

Dave and Jackie Byma of Byma's Tire & Auto Service Centre in Kitchener, Ontario, Canada, thanked DSP for helping the business owners "create our very first budget. We have been in business for over 25 years and have never implemented a budget. This is the best tool yet."

"The budget workshop is just one of the values realized by being a 20 group member," Mr. Gaither said. "Without a business plan, it's like going on a trip without a map. This is one of the most important essentials of running a successful business and too many owners don't take the time to work 'on' their business instead of 'in' their business.

"The popularity of this workshop has grown tremendously and we expect to continue this offering to our members for years to come."

The DSP 20 Group, formed in 2007, said it offers tire and automotive service dealers the opportunity to share best practices, benchmark against the industry and improve financial performance. Each group allows a maximum of 20 dealers who meet three times a year to help each other improve their business performance.