Proof in Action

Challenge: 

When Mike Coggins decided to acquire his own dealerships, he sought the expertise of Tom Olney and Sally Lopez at OWL Automotive Consulting, LLC. After just one conversation with the OWL partners, Mike was confident he had found the right fit to ensure his dream of owning his own dealerships would not only become a reality but also be incredibly successful.

Initially, Mike needed help with:

• Negotiating a contract with the new Dealer Management System vendor 
• Converting the purchased data to his system and completing the necessary setups
• Establishing standards for his Chart of Accounts (COA) and ensuring all processes were in place to run his new dealerships efficiently
• Securing Fractional CFO and CIO services until the right people were hired to fill those key roles

On the IT side, Mike needed to:

• Install a network
• Update outdated IT equipment
• Get his phones operational
• Plan for a full PC refresh to avoid downtime, ensure security, and maintain compliance with industry standards

OWL had solutions for all his needs, leading to a partnership that allowed them to grow together.

Solution: 

OWL was ready for the challenge. Tom and Sally helped Mike find the perfect dealerships in Bennington, Vermont. Together, the trio performed their due diligence to ensure the dealerships would be a sound investment for the future. After negotiating the purchase, it was time to apply the tried-and-true methods that OWL had honed to ensure successful acquisitions. The OWL team meticulously worked through every detail required to close the deal on time, from filing the proper business applications to transferring the keys to the new owners. Finally, Coggins Auto Group was born, opening with three dealerships – Coggins Toyota of Bennington, Coggins Honda of Bennington, and Coggins Ford of Bennington.

Coggins had chosen DealerTrack as their DMS provider and needed to convert data from the previous owner's DMS; this would need to coincide with the acquisition date. OWL leveraged a well-established vendor relationship to negotiate a cost-effective contract for Coggins. OWL's project managers coordinated the transfer of customer and vendor data to Coggins' new system and oversaw the setup of the CCC integration for the newly added Collision Center within the Toyota location. The OWL team managed the project which included implementation and training in conjunction with a dedicated team of experts from DealerTrack.

During the acquisition, OWL also conducted a search for a Controller for Coggins. Tom and Sally, with their extensive industry experience, knew that car people stay in the car business. They used their resources to find qualified candidates, conduct interviews, and make recommendations for hiring new staff. 

OWL also worked on setting up the IT infrastructure for Coggins. OWL managed everything technology-related for Coggins, from setting up printers, PCs, and networking equipment to installing security software. Our team even trained the users on phishing and how to avoid becoming victims of cyberattacks.

Coggins has continued to expand its footprint, and OWL has partnered with them each step of the way. A used car store was acquired, and OWL IT managed the acquisition, including setting up their network and incorporating new PCs. 

Most recently, Coggins completed a total PC refresh at two of their dealerships. OWL IT was back onsite to set up all of the new PCs, set up printing on the network via PrinterLogic, and get all the users online in time for business opening without interruption. This upgrade equipped them with the latest PC technology and software, enhancing the user experience while ensuring a secure IT environment.

Additionally, Coggins went through a divestiture of their Ford location, and OWL was there to manage that project as well. Ensuring that the necessary Dealertrack changes were made and that the transaction went off without a hitch. Managing all the detailed and diverse steps of buy/sells for our clients allows them to focus on running their business with minimal interruptions, enabling company resources to maintain their daily workflows.

Results: 

Through streamlined processes and upgraded IT systems, the Coggins team was able to get right to work. With sound operations and standard processes in place, they were able to do what they do best, sell cars and write tickets. As a result, Coggins Auto Group has achieved an impressive 40% Return on Investment (ROI) since its inception. Additionally, they saw the following sales increases:

• Coggins Toyota of Bennington – New Car Sales increased 57%
• Coggins Honda of Bennington – New Car Sales increased 55%
• All Stores – Used Car Sales increased 50%
• Service saw a significant increase in ROs year over year since inception

OWL continues to partner with Coggins Auto Group to increase their productivity and grow their business by keeping them future ready, secure, and compliant within the Automotive Industry.