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Rex A. Collins

Rex Collins is a Principal of HBK CPAs & Consultants and directs the firm’s nationwide Dealership Industry Group. He has worked extensively in the dealership industry since 1984 as a department manager, a general manager and an owner, as well as providing tax, accounting, transactional and operational consulting services exclusively to dealers. He can be contacted at rcollins@hbkcpa.com.

rcollins@hbkcpa.com

Articles

ARTICLES

Fix My Problem

Recouping Credit Card Fees

By Rex A. Collins posted on March 5, 2020 | Posted in Best Practices

Question from a reader: What is the proper way recoup the fees being charged to me by my credit card company for consumer transactions? Read more.

Inventory Efficiency: Do the Math

By Rex A. Collins posted on October 10, 2019 | Posted in Best Practices

Source: HBK CPAs

Parts managers are using complex mathematical formulas to compute their optimal inventory quantities these days, though they might not be aware of it.

Be Ready for Whatever the Economy Throws at You

By Rex A. Collins posted on June 21, 2019 | Posted in Best Practices

Times have been good in the rural equipment market, but there could be some dramatic changes coming and I want to share some ways your dealership can be ready.

Dealer Success Academy

Controlling Dealership Expenses

By Rex A. Collins posted on May 10, 2019 | Posted in Best Practices

Start by looking at the “big 5” expenses: data processing, insurance, personnel, advertising and interest, but don't forget the small stuff.

Finding Ways to Cut Costs, Manage Better

Here are suggestions for controlling expenses, increasing service department profitability and making smarter purchases of goods and services.

By Rex A. Collins posted on April 8, 2019 | Posted in Best Practices

Here are suggestions for controlling expenses, increasing service department profitability and making smarter purchases of goods and services.

Typhoons & Tariffs: Dealers Need to Prepare for the Unexpected & Unpredictable

By Rex A. Collins posted on October 2, 2018 | Posted in Data & Forecasts, Best Practices

Source: HBK CPAs

Just as you plan to protect your dealership from unpredictable events like storms and fires, you need to prepare for what might happen to your business should the economy stall. In fact, current indicators for our industry are concerning.

Succession Planning Step 10: Monitor & Adjust the Plan

By Rex A. Collins posted on August 31, 2018 | Posted in Best Practices

Succession planning is a dynamic process that needs adjusting based on the dealer’s changing goals and life circumstances.

Succession Planning Step 9: Develop an Implementation Strategy

By Rex A. Collins posted on August 24, 2018 | Posted in Best Practices

Every succession plan should include a contingency plan that answers the question, “What would happen to my family and business if I’m not here tomorrow?”

Succession Planning Step 8: Develop an Implementation Strategy

By Rex A. Collins posted on August 17, 2018 | Posted in Best Practices

The importance of a team coordinator cannot be over emphasized, one who is experienced in the dealership industry and succession planning and is a trusted advisor to the owner.

Succession Planning Step 7: Integrate Succession & Estate Planning

By Rex A. Collins posted on August 9, 2018 | Posted in Best Practices

There is an overlap between a dealer’s estate plan and succession plan, so they should be done in tandem and recognize the unique aspects of the dealership business as well as the succession goals of the retiring dealer.

View All Articles by Rex A. Collins

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