LAS VEGAS — The organizers of Industry Summit 2011, scheduled for September 26–28 at the Las Vegas Hilton, have announced the addition of “Buy Here, Pay Here for Franchised Dealers,” a comprehensive, four-hour seminar designed to tackle the issue of adding a BHPH operation to a new-car dealership.
The seminar will begin on Monday, Sept. 26, at 12:30 p.m. It will be presented by Peritus Portfolio Services’ Rod Heasley and special guest Kenneth Shilson, founder of Subprime Analytics and the National Alliance for Buy Here, Pay Here Dealers (NABD).
As an industry veteran, related finance company pioneer and leading voice in the segment, Shilson believes that the time is right for more new-car dealers to add a BHPH operation — especially considering the state of the used-car market.
"Profit opportunities for franchise dealers in BHPH have never been greater,” Shilson said. “Learning the important differences and synergies between operating a franchise store and being successful in the BHPH 'finance business' is the objective of this seminar.”
Heasley plans to cover capitalization, inventory, deal structuring and the use of GPS and starter interrupt technology, as well as advanced portfolio management strategies, including the sale of receivables. He told F&I and Showroom that the seminar will cover the upside and potential pitfalls of buy here, pay here.
“All your bases are covered: sales, financial and accounting,” Heasley said. “That’s why we are honored to partner with Ken Shilson, a recognized icon in the BHPH industry for many years. His experience at the street level, from an accounting perspective, will set our attendees on the right course for a successful operation.”
Industry Summit 2011 includes the F&I Conference and Expo, Special Finance Conference and Vehicle Service Contract Administrators Conference. Dealers and agents can add Buy Here, Pay Here for Franchised Dealers to their full-conference pass for a nominal fee of $49. To register or for more information, visit IndustrySummit.com or call 800-576-8788.