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The Turnaround process is tailored individually to your business so it is not possible to be prescriptive about the areas that would need to be addressed.  The length of the process is also very much dictated by the size of business and the extent of difficulties it faces at that time.  Below, however, are some examples of the type of work we would normally expect to carry out in a small to medium sized dealership or dealer group: 

  • Quality of Managers
  • Staff levels / Non-productive heads / Effectiveness of operational structure
  • Staff ability, objective setting, reviews, succession planning
  • Staff productivity, efficiency, skill levels, rewards and incentives
  • Departmental and inter-departmental communication
  • Financial awareness of Departmental Managers. (Accounts/Cash-flow/Budgeting/Forecasts)
  • Daily focus on profitability
  • Training requirements for Managers and all other staff
  • Stock Management – Level, Value, Profile, Stock turn, Trading policies etc.
  • Showroom controls, traffic recording, telephone use
  • Sales processes, ‘upsell’ in every department
  • Methodology for Prospecting, Follow Up, Lapsed customers, Lost sales etc
  • Effectiveness of Advertising and Marketing
  • Control of expenses / subcontract work
  • KPI reviews with Industry standards and relevant Franchise composites
  • Sharing of best practice in multi-site environment

  • ‘Forensic’ Balance Sheet tests to prove figures and assess financial health
  • Utilisation and return on Assets
  • Circulation of Funds – correct funding level for current size of business?
  • Create new Budgets with Management involvement and commitment
  • Future funding requirement – assess adequate funding level
  • Review stakeholders financial commitment and opportunity
  • Stock profile, turn and depreciation policies
  • DOC’s with daily forecasting of Monthly result
  • Introduction of more effective financial controls and procedures
  • Improvement in accuracy of cash flow forecasting
  • Review all principal contracts – General suppliers and Finance / Oil deals etc
  • Review Financial management structure - effectiveness and quality
  • Economies of scale - purchasing in Group scenario
  • Consideration of alternative funding sources / methods
  • Restructure debt if appropriate – if appropriate, advising on benefits of converting debt to equity
  • Improve communication and relationship with funders

  • Franchises – opportunities – funding requirements – model programmes etc
  • Types of business – profitability – funding – staffing – some usual areas for review                                                                                   > Fleet
    > Local Business
    > LCV
    > Leasing
    > Servicing – menu priced – all makes – MOT – LCV – extended hours etc
    > Bodyshop
    > Rental
    > Parts – multi franchise – trade business etc
  • Site locations – other opportunities – consolidation – multi franchise
  • Property valuations
  • Financing of assets
  • Expansion or contraction
  • Internet use – analysis and new technologies
  • Shareholders future plans/exit strategy
  • 3 Year Plan