Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with Fred Beans, owner of Fred Beans Auto Group where we discuss: his iconic career in the car business, wealth-building tips from Warren Buffet, the journey from farmhand to dealership mogul, his succession plan and much more.
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Topics:
00:00:00 - Intro
00:01:02 - Fred’s background and career
00:04:13 - What was the industry like back in the 60’s and 70’s?
00:07:09 - How have you reinvested your wealth over your career?
00:09:49 - What has the learning curve been like over your career?
00:10:55 - What does your business look like today?
00:12:17 - How did you approach growing your business?
00:16:30 - What does your daily regimen look like?
00:20:06 - Has the car business meaningfully changed over the past 30 years?
00:23:02 - What led you to build your parts department?
00:28:39 - How do you think about the future of dealerships?
00:30:39 - Have you ever thought about divesting?
00:31:32 - What does your succession plan look like?
00:34:34 - What brands are you bullish on?
00:36:06 - Was life better 50 years ago?
00:38:13 - What are the biggest customer pain points today?
00:40:44 - Parenting
00:45:19 - Floor plans
00:47:48 - How do you approach business opportunities at your scale?
00:50:50 - Questions for Yossi
00:53:23 - Growing by staying small
00:54:02 - What are the first four pieces of information you would ask for if you took on an underperforming store?
00:57:36 - What message do you want to leave?
Check out Fred Beans Auto Group here - https://www.fredbeans.com/
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