There are a million different ways to run a business, most of which have been attempted by a small business owner like yourself. One of the greatest benefits of MRAA membership is found in the collective experience of our members. The following list of resources have been compiled by both dealers and our supplier partners, and are offered here for your use. Do YOU have an idea or method that might help others run their business better? By all means, join in the conversation.
- The FTC's New Identity Theft Prevention Rule
The Federal Trade Commission's (FTC’s) "Red Flags" Rule is specifically meant to prevent identify theft from occurring. The rule requires auto dealers, and others, to establish and maintain a written Identity Theft Prevention Program ("ITPP) that is designed to detect, prevent and mitigate identity theft.
- Red Flags of Risky Business
Regulations require a dealership to not only be a good citizen, but to be a cop as well. There’s no two ways about it, if red flags are detected during a transaction, certain proactive steps are required that will create extra work and slow down the deal process.
- Write Your Business Plan
There's no better and more direct way to find success in your business than to write and follow a business plan. Banks need to see one to have enough confidence to loan you money; your employees need one to understand how you and they will find success; and you need one in order to know the score in your everyday game of finding greater profits. Fortunately, the U.S. Small Business Administration released an all-new business planning tool to help you write your own plan. Follow this link to get started with this interactive, eight-step process. Save your work and return to it later, but do your business a huge service and get a plan written.
All retailers who do business through their website must have a
through the link above for your use. Simply add your dealership's name
where indicated on the form and post the text under the words Privacy
Policy on your website.
- Document & Record Retention
Every business should know its requirement for retaining documentation
relating to all of its business dealings. To assist the members along
these lines, the MRAA worked with Bellavia Blatt PC, to create an all-encompassing schedule that outlines
how long you should retain individual documents.