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Automotive Accountants Network Forum Meeting 2 The Manningham 21 st June 2011 Founding member of

CAANF Meeting 2 Presentation 21 06-2011

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• Social Media - Getting Value Online• Automotive Industry Updates• Recent Budget Changes

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Page 1: CAANF Meeting 2 Presentation 21 06-2011

Automotive Accountants

Network Forum

Meeting 2

The Manningham

21st June 2011

Founding member of

Page 2: CAANF Meeting 2 Presentation 21 06-2011

This presentation has been prepared by Colledges for the general

information of its clients and forum attendees. While the

information herein has been prepared with all reasonable care and

derived from sources believed to be accurate, no responsibility or

liability is accepted by Colledges or any of its affiliations, for any

errors or omissions, including liability to any person of negligence or

otherwise.

Recommendations may not be appropriate in all circumstances and

clients must consider their own personal objectives and financial

advice before acting on recommendations in this presentation.

Colledges (ABN 52 439 950 641)

For more information, contact Angelo Sirianni on 03 9851 6500 or email [email protected]

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Page 3: CAANF Meeting 2 Presentation 21 06-2011

Feel free to ask questions

Show respect for presenters and colleagues

One discussion at a time

Please switch phones to “silent”

Enjoy the forum!

For more information, contact Angelo Sirianni on 03 9851 6500 or email [email protected]

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House Rules

Page 4: CAANF Meeting 2 Presentation 21 06-2011

Quote for the day...

“The secret of success is to know something nobody else knows”

Aristotle Onassis (1906-1979)

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Page 5: CAANF Meeting 2 Presentation 21 06-2011

Agenda

Introduction

- Whiteboard Items

- Review

Social Media

Automotive Industry Updates

Recent Budget Changes

Son of Holdback

Whiteboard Items

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Page 6: CAANF Meeting 2 Presentation 21 06-2011

Introduction

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Page 7: CAANF Meeting 2 Presentation 21 06-2011

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Whiteboard Items

1. How is time and attendance recorded?

- Timesheets?

- Software?

2. How do you measure parts counterman productivity?

- Does Pentana measure it effectively?

3. What measures are in place for parts old stock? How do you

keep it under control?

4. How do you prepare for the end of the financial year?

Page 8: CAANF Meeting 2 Presentation 21 06-2011

Founding member of

Review

Outstanding Issues

Previous Meeting

Christmas Parties

Mobile Phones

Page 9: CAANF Meeting 2 Presentation 21 06-2011

Social Media

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Presenter: James Richardson

Optimising SEO & Design

Page 10: CAANF Meeting 2 Presentation 21 06-2011

Getting Value Online

James Richardson

Optimising.com.au

1300 171 005

[email protected]

Page 11: CAANF Meeting 2 Presentation 21 06-2011

Who am I?

• Worked in the online space for 8 years.

• Run an SEO & Social Media Agency.

• Written for The Age, The Australian, Dynamic Business & Anthill on Digital Media Issues.

• Bit of a nerd...

Page 12: CAANF Meeting 2 Presentation 21 06-2011

Online Objectives

• Establish your brand.

• Be where your customers are.

• Create Relationships.

• Drive sales.

Page 13: CAANF Meeting 2 Presentation 21 06-2011

Homebase: A home base is a place online that you own (Your Website)

Outposts: Places that you have an online presence out in other parts of the web that you might not ‘own’.

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Direct Traffic

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Target Market

• Who is your target market?

• Where do they ‘hang out’ online?

• What do they do online?

HOW DO WE REACH THEM?

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10.79% 9.13%

Share of Internet Traffic for week ending 11/6/2011

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Facts• 1 in every 13 people on Earth is on Facebook

• 35+ demographic represents more than 30% of the entire user base

• In 20 minutes 1,000,000 links are shared on Facebook

• In 20 minutes 10.2 million comments are posted

• 48% of 18 to 34 year olds check Facebook right when they wake up

• 50% of active users log on to Facebook in any given day

• Average user is connected to 80 community pages, groups and events

• Average user creates 90 pieces of content each month

• More than 700 million active users

• There is over 16,000,000 Facebook fan pages

• Australian’s spend more time per month on Facebook than any other country at over 7 hours on average

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Ways to use

Pages Ads Events Check Ins

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Ways to use Pages

• Create new Fans.

• Alert fans to new offers/products/services.

• Display inventory.

• Generate Leads .

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• Be authentic.

• Have purpose.

• Engage regularly.

• Vary Message.

• Don’t overdo it.

Page Best Practices

Page 22: CAANF Meeting 2 Presentation 21 06-2011

Ways to use Ads

• Create Brand Awareness.

• Advertise a Product/Service/Offer.

• Generate Website Traffic.

• Create New Fans.

Page 23: CAANF Meeting 2 Presentation 21 06-2011

Ad ExamplesTitle (25 Characters)

Description (135 Characters)

120px * 80px

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Social Media

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Page 28: CAANF Meeting 2 Presentation 21 06-2011

Getting Traffic

• Search Engine Optimisation.

• Google Maps (Local/Places)

• Google Adwords (Pay Per Click)

Page 29: CAANF Meeting 2 Presentation 21 06-2011

Search Engine Optimisation• On Page Factors

• Off Page Factors

• Other Factors

Page 30: CAANF Meeting 2 Presentation 21 06-2011

SEO Tips

• Content is King

• Create for Users First

• Links = Trust = Rankings

• Patience :-)

Page 31: CAANF Meeting 2 Presentation 21 06-2011

Maps

• Powerful for local and

geographic search Offpage Factors

• Highly geographically

targeted

• Easier/Faster to rank

• Uses same ranking

techniques as SEO

Page 32: CAANF Meeting 2 Presentation 21 06-2011

Maps Tricks

• Use local Phone numbers (No 1300...)

• Matching address must be on website URL.

• Have one address per location.

• Fill out ALL the details.

• Reviews count.

• Truelocal and Yellow Pages must match up.

Page 33: CAANF Meeting 2 Presentation 21 06-2011

Pay Per Click

• Pay for every visitor that comes to your website.

• Can specify search terms/time/budget/websites.

• Can track conversions/leads/click/impressions.

Page 34: CAANF Meeting 2 Presentation 21 06-2011

• Don’t run ads on the display network.

• Don’t just run ads when Google says so...

• Don’t send traffic to the homepage.

• Create many landing pages.

• Run ads consistently.

• Test, Test, Test, Test...

PPC Tips

Page 35: CAANF Meeting 2 Presentation 21 06-2011

James Richardson

Optimising.com.au

1300 171 005

[email protected]

Page 36: CAANF Meeting 2 Presentation 21 06-2011

Afternoon Tea

Founding member of

Page 37: CAANF Meeting 2 Presentation 21 06-2011

Automotive Industry UpdatesEd Colledge

Founding member of

Recent Happenings

MTAA Superannuation

PSI – The Workshop

Factory / Dealer Relationships

Financier / Dealer Overview

The Economic Outlook

Page 38: CAANF Meeting 2 Presentation 21 06-2011

Recent Happenings

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Luxury car rort spurs tax debate

Bank of Queensland – car wholesale financing

Best dealer results – KPI focus

Page 39: CAANF Meeting 2 Presentation 21 06-2011

MTAA Superannuation

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MTAA Super Fund Advisors grilled on $500M loss

(Financial Review)

Previously one of the best performing funds

Need for review and plan for recovery

Page 40: CAANF Meeting 2 Presentation 21 06-2011

PSI – The Workshop

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Service while you wait more popular

Switch from repairs to quick service maintenance

– larger bays

Conduct a facility audit program

Meaningful KPIs

Page 41: CAANF Meeting 2 Presentation 21 06-2011

Factory / Dealer Relationships

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Moves to stop cyber slipping

Carsales.com vs carsguide.com

Push for greener cars

Page 42: CAANF Meeting 2 Presentation 21 06-2011

Financier / Dealer Overview

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Rates geared to:

- Retail performance

- Debt to asset ratio

New entrant finance companies

Page 43: CAANF Meeting 2 Presentation 21 06-2011

The Economic Outlook

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More banking regulations hindering recovery

Worsening debt crisis in Europe

Frustrating slow growth in the US

Aussie banks in good position

RBA forecasts rates to go up very soon

Page 44: CAANF Meeting 2 Presentation 21 06-2011

Recent Budget Changes

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Page 45: CAANF Meeting 2 Presentation 21 06-2011

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Recent Budget Changes

2 key measures that impact on dealerships

Tax breaks for small business operations

FBT related to motor vehicles

Page 46: CAANF Meeting 2 Presentation 21 06-2011

Son of Holdback

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Page 47: CAANF Meeting 2 Presentation 21 06-2011

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Son of Holdback

Lead case is proceeding

ATO is not prepared to disclose the taxpayer

Case unlikely to be finalised before 2012

Page 48: CAANF Meeting 2 Presentation 21 06-2011

Benchmarks

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Page 49: CAANF Meeting 2 Presentation 21 06-2011

Benchmarks

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Total Dealership

2011 2010

NPBT % Revenue 2.5% 2.5%

Gross % Sales 15.5% 15.5%

Expenses % Sales (incl. admin) 13% 13%

Gross per Employee $11,000 $11,000

Expense per Employee

(excludes admin)

$5,500 $5,500

Selling Gross per Employee $5,500 $5,500

NPBT per Employee $2,500 $2,500

Parts and Service Absorption 57.5% 57.5%

Page 50: CAANF Meeting 2 Presentation 21 06-2011

Benchmarks

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Administration

2011 2010

Rent and Property Expense % of Gross 8% 8%

Total Administrative Expenses % Gross 25% 25%

Page 51: CAANF Meeting 2 Presentation 21 06-2011

Benchmarks

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New

2011 2010

Retail Gross $PNVR $2,800 $2,800

Fleet Gross $PFVS $1,600 $1,600

Unit Sales per Salesperson (incl Managers) 12 12

Gross per Salesperson (incl Managers) $30,000 $30,000

Remuneration % Gross 35% 33%

Variable Expenses % Gross 20% 20%

Fixed Expenses % Gross 50% 45%

Selling Gross per Sales Employee

(incl Managers)

$8,000 $10,000

Return on Investment 30% 30%

Aftermarket Gross PNVR $250 NEW

Aftermarket New Vehicle Penetration 60% NEW

Page 52: CAANF Meeting 2 Presentation 21 06-2011

Benchmarks

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Used

2011 2010

Retail Gross $PUVR $2,600 $2,600

Unit Sales per Salesperson (incl Managers) 10 10

Gross per Salesperson (incl Managers) $27,500 $25,000

Remuneration % Gross 40% 40%

Variable Expenses % Gross 14% 14%

Fixed Expenses % Gross 50% 50%

Selling Gross per Sales Employee

(incl Managers)

$8,000 $8,000

Return on Investment 60% 50%

Aftermarket Gross PUVR $75 NEW

Aftermarket Used Vehicle Penetration 30% NEW

Page 53: CAANF Meeting 2 Presentation 21 06-2011

Benchmarks

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Finance & Insurance

2011 2010

New Vehicle Penetration Rate 38% 32%

Used Vehicle Penetration Rate 38% 30%

Finance Income $PNVR $750 $600

Finance Income $PUVR $750 $550

Insurance Income $PNVR $200 $150

Insurance Income $PUVR $200 $200

Total F&I Income $PVR $950 $700

F&I Gross per Employee $55,000 $45,000

F&I Selling Gross per Employee $40,000 $30,000

Page 54: CAANF Meeting 2 Presentation 21 06-2011

Benchmarks

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Service

2011 2010

Ratio Chargeable: Non-chargeable 1.5 1.5

Percent of Available Hours Sold 97.5% 97.5%

Labour Sales per Chargeable Employee $15,000 $14,000

Ratio Customer Parts to Labour Sales 0.75 0.75

Labour Gross per Chargeable Employee $11,500 $10,500

Salaries and Payroll On Costs % of Gross 40% 40$

Total Direct Expenses % of Gross 50% 50%

Selling Gross per Chargeable Employee $7,000 $6,000

Selling Gross per Department Employee $3,500 $3,000

Page 55: CAANF Meeting 2 Presentation 21 06-2011

Benchmarks

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Parts

2011 2010

Parts Sales per Employee (excl drivers) $75,000 $75,000

Parts Gross per Employee (excl drivers) $19,000 $19,000

Gross % Sales (Net of inv adj) 27% 27%

Salaries and Payroll On Costs % Gross 32% 32%

Total Direct Expenses % Gross 37.5% 37.5%

Selling Gross per Parts Employee $10,000 $10,000

Return On Investment 175% 175%

Page 56: CAANF Meeting 2 Presentation 21 06-2011

Whiteboard Items

Founding member of

Page 57: CAANF Meeting 2 Presentation 21 06-2011

Founding member of

Whiteboard Items

1. How is time and attendance recorded?

- Timesheets?

- Software?

Please contact Colledges for answers to these items

Page 58: CAANF Meeting 2 Presentation 21 06-2011

Founding member of

Whiteboard Items

2. How do you measure parts counterman

productivity?

- Does Pentana measure it effectively?

3. What measures are in place for parts old

stock? How do you keep it under control?

Please contact Colledges for answers to these items

Page 59: CAANF Meeting 2 Presentation 21 06-2011

Founding member of

Whiteboard Items

4. How do you prepare for the end of the

financial year?

Please contact Colledges for answers to these items

Page 60: CAANF Meeting 2 Presentation 21 06-2011

Next Meeting

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Tuesday 23rd August 2011

12 ~ 4:30pm

The Manningham

Page 61: CAANF Meeting 2 Presentation 21 06-2011

Founding member of

Thank-you