Auto Dealer Monthly, Q4 2020
Most dealers understand the importance of a succession plan Too few realize the critical role pre tax dollars can play in making your vision for the future a reality PHOTO GETTYIMAGES COM WAVEBREAKMEDIA By Graye Wolfe 18 auto dealer today Q4 2020 D e a l e r O p s YOU CANT HAVE A SUCCESSION PLAN WITHOUT REINSURANCE My father bought his first dealership in 1971 when he was in his early 30s and I was 10 After several years away at college I rejoined the family business and at 22 bought my first store and became the youngest General Motors dealer ever franchised We continued to grow throughout the 80s and into the early 90s when tragedy struck I lost my father in 1993 to his third heart attack when he was only 56 years old
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