#127 Secrets to becoming a first-time franchise dealership owner in 2024! | Kyle Coleman, Owner of Coleman Automotive

Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with Kyle Coleman, Owner of Coleman Automotive where we discuss: How he went from selling Pokemon cards to Fords, the $50M voicemail that changed his life, His first 6 months as a franchise dealership owner and much more. This episode of the Car Dealership Guy Podcast is brought to you by: DLRdmv - With DLR50, your dealership now has 24/7 portal access to calculations, pre-filled forms, checklists, inquiries, plus white glove processing and specialist support. You can even acquire duplicate titles in all 50 states directly through the DLR50 platform! Visit https://www.dlr50.com/ to learn more. Impel - Impel enables automotive retailers, manufacturers, and online marketplaces to turn shoppers into buyers, and buyers into lifelong customers, with the auto industry's most advanced AI-powered Customer Lifecycle Management platform. Learn more @ https://impel.ai/ CDG Recruiting - a more hands-on, white-glove automotive recruiting service with decades of experience successfully placing over 1,000 roles in the automotive industry. Try CDG Recruiting today by visiting cdgrecruiting.com Interested in advertising with Car Dealership Guy? Drop us a line here Interested in being considered as a guest on the podcast? Add your name here Topics: (00:00:00) - Intro (00:01:15) - Kyle’s background and career (00:13:01) - Learnings from the CDG Podcast (00:17:30) - Financing acquisitions (00:19:58) - Valuing dealerships (00:23:49) - Getting approved by franchises (00:31:22) - Dealership profits (00:33:56) - Doing things differently at the dealerships (00:38:26) - Acquiring Toyota stores (00:39:05) - Structuring dealership teams (00:42:37) - Systems and processes (00:44:48) - Plans for future financing and acquisitions (00:45:31) - Kyle on starting his own private equity group (00:58:15) - Advice for listeners Check out Car Dealership Guy’s stuff: CDG News ➤ https://news.dealershipguy.com/ CDG Jobs ➤ https://jobs.dealershipguy.com/ CDG Recruiting ➤ https://www.cdgrecruiting.com/ My Socials: X ➤ https://www.twitter.com/GuyDealership Instagram ➤ https://www.instagram.com/cardealershipguy/ TikTok ➤ https://www.tiktok.com/@guydealership LinkedIn ➤ https://www.linkedin.com/company/cardealershipguy/ Threads ➤ https://www.threads.net/@cardealershipguy Facebook ➤ https://www.facebook.com/profile.php?id=100077402857683 Everything else ➤ dealershipguy.com This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.