Show notes
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
(00:00:50) - Fred’s background and career
(00:04:00) - What was the industry like back in the ’60s and ’70s?
(00:06:56) - How have you reinvested your wealth over your career?
(00:09:27) - What has the learning curve been like over your career?
(00:10:31) - What does your business look like today?
(00:11:52) - How did you approach growing your business?
(00:15:55) - What does your daily regimen look like?
(00:19:45) - Has the car business meaningfully changed over the past 30 years?
(00:22:30) - What led you to build your parts department?
(00:27:53) - How do you think about the future of dealerships?
(00:29:50) - Have you ever thought about divesting?
(00:30:45) - What does your succession plan look like?
(00:32:27) - What’s your advice to up-and-comers?
(00:33:34) - What brands are you bullish on?
(00:35:11) - Was life better 50 years ago?
(00:37:24) - What are the biggest customer pain points today?
(00:40:00) - Parenting
(00:44:15) - Floor plans
(00:46:41) - How do you approach business opportunities at your scale?
(00:49:48) - Questions for Yossi
(00:52:24) - Growing by staying small
(00:53:23) - What are the first four pieces of information you would ask for if you took on an underperforming store?
(00:56:47) - What message do you want to leave?
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