#258 - Why Your Financial Projections Are Wrong w/ JP & Chad

Hello, you are listening to the Independent Dealer podcast, brought to you by Buckeye Dealership Consulting. Luke, this week we are going to talk to the guys from MB accounting, Mr. Chad Martin. We've had him on the podcast before. Great, great guy. When it comes to what's called fractional cfo.

Yeah.

I'll tell you, this is something I spend probably way too much time doing, Jeff, but you have to, to understand your business. And, and these guys, I think, can help us see some blind spots that we have and also train us to be a better fiduciary for our own business.

Right?

Yeah. I mean, we're not. I don't have an accounting degree. I tried it. I flunked out of accounting classes in college. Like, it's. I know enough to be dangerous and mess up my QuickBooks and, and kind of get halfway there, but I don't know all of it. So guys like this could help us dumb dealers be a little bit smarter when it comes to the numbers and the dollars that are in our account. So if you guys remember a couple episodes ago, we talked to you about forecasting, and we pitch that a lot. If you guys are listening to our newsletter, hopefully you're signed up and you're getting our newsletter every week, which is more tactical tips. Luke's beautiful face in there and he.

Video like us on YouTube.

And so it's, it's, it's. We harp on that a lot, forecasting and projections. And the reason we do that is because if you don't know where you're going, what is it? It doesn't even matter where you end up. Right?

Yeah.

And projections are so important because projections are different in your goals. Right. And so you've got to, you've got to be really specific on those projections because with projections, you're able to build the rest of your. Your dealership, the rest of your budget, the rest of your allocations. So they're super important.

And yeah, it's like, I want to go to Mexico, but I gotta have an agenda. I gotta have a travel plan to get there. You know, I gotta know the budget, I gotta know the planes, I gotta know the logistics. So when we talk about projections, it's those logistics of how you're gonna get there, how much money is it gonna cost you? And the reason why it's so crucial is because if you don't know how much money it's gonna cost you to get here, you can either sell yourself out of business or you can not sell yourself and go out of business. Right. Like hey, here's the minimum sales I gotta have as a retail dealer to keep my doors open and a minimal gross profit. And then as a buy here, pay here dealer, hey, here's the maximum I can sell. I can't do a hundred buy here pay here deals next month. I would miss payroll. I'd be broke.

It's such a fine line we have to walk. And if you don't have rejections, you will fall off that tightrope. Jeff.

Yep. So hope you guys enjoy the episode and talk to you later.

You are listening to the independent Dealer podcast with hosts Luke Godwin and Jeff Watson.

So Chad, J.P. thank you so much for joining us today and talking about this. You know, Luke and I are always harping on how important it is that we have projections. You know, we need to, we need to have cash flow projections. We need to know where we're going if we want to get to the destination we want to be at. Right. You got to have a roadmap. But my argument is like, man, I only know so much. I never got an accounting degree. I don't know what I don't know. So that's what I want to talk to you guys today about. Thank you for being here. You guys. You guys have given us kind of the top blind spots that us dealers might see in our financial projections. Right. Because we don't know. So I want to jump right into those. First one is talk to us about having like the basis of accurate financials. Right. That's kind of the whole foundation. Correct.

Absolutely. I'll kick us off here. And Jeff, thanks for having us. We're sad that Luke isn't here, but your standards have slid such that we made it in a second time. So we're excited to be here.

Yeah, yeah. When he heard your guys name, he bailed. Yeah, yeah, yeah, yeah.

That's great, man. Just like the women used to in my life. So yeah, that, I mean you hit the nail on the head. And this is first and foremost and a top 10 list of why projections don't work. I mean your accounting has to be fairly accurate because that's the basis for your P L budget or your cash flow forecast. And BHPH accounting is hard. If you just do retail, it's, it's not quite as hard but you know, Chad and I often come into into situations with dealers where we see a bunch of unrecorded expense. You know, maybe it's caught up on the balance sheet and you already sold the vehicles so it should be off of there. And that's inflating your earnings. And so I feel like if you're uncertain about your accounting, you don't have an auditor review or an eye from a good BHPH accounting firm, then you're probably at risk of those financials not being accurate. And those are going to be the key to driving a reasonable P and L or cash flow forecast.

Yeah. Let me ask you your opinion. I know you have an opinion on this, of the rfc. Is it, is it, is that what I've heard? You guys are not, not actually a fan of having an RFC if you're buy your pay here.

I don't, I don't think I've ever said that.

I think, okay, I thought I talked to a dealer who said, you know, he doesn't have an rfc. I think he's a client of yours and he says, I don't have an rfc, but I'm allowed to run my dealership as if I do have an rfc. Hold back bad debt, things like that. Does it make it easier if a buy here pay here dealer runs as a single entity as opposed to having an rfc?

Well, I think if I'm thinking of maybe the individual you're thinking of, they are a very mature dealer and at this point are stagnant in growth and they had not had an RFC in the past. And so at this point, if they're not going to grow, you know, it's not, doesn't make sense to set up an RFC now and, you know, move accounts over because you've already taken the hit, you've already paid the tax early on. The whole idea of having an RFC is to defer tax right until you've actually collected the money. So you're able to get that, that discount, 30, 40%, whatever you're charging as a discount rate upfront that you wouldn't be able to get if you didn't have the rfc. So for that particular guy, you know, again, I think it's because he's a mature, you know, it doesn't make sense, but they would be an advocate of an rfc. When you start as a startup, as you're growing your portfolio and after you get over a set number of accounts, maybe it's cost beneficial to do that.

It makes, it seems to me like it's always the accounting between the two companies that gets so hairy, you know, when you're talking about discounts, selling notes and that's where, you know, some of those things can start to get. It makes it look like you're making money but you're Maybe not. And vice versa.

It's where we see probably some of the biggest messes is through intercompany and through, you know, things getting lost in the fog. And you know, if you're, if you don't make a ton of income and your, you know, your tax bill isn't that high, you're comfortable paying it, then you, at least for that year, save the extra pain of setting up that RFC and accounting for it.

Okay, let's move on to number two. So you guys talk about dealers thinking that their P L is the same as a cash flow statement, right? And I think I fall victim to that all the time. Right. And I start confusing the two. I'm like, well, wait a minute, you know, it said I only spent this amount this month, but that doesn't account for principal reduction on my real estate estate. You know, so sometimes we get confused as what are some other common issues that happen in that cash flow P L confusion.

Yeah, I think you're a step ahead and kind of realizing that already. Chad, I hear this a lot. And Jeff, maybe you've said it in your past like, wow, my, I finished with a nice profit this year. Why do I feel broke? I hear that a lot lately, right. With, with the chaos and cost in the market. And you know, there are. That, that P L or income statement that you produce in house, that you give to your lender monthly, your, your cpa, you, you know that that contains a lot of items that aren't in your cash flow statement. I think about selling a vehicle, right. That gross profit goes to the bottom line of your P L. But what really happened cash flow wise? Well, you took a thousand dollars down. That's it. You bought it 45 days ago. But the cash flow comes later on that deal. And so that's a biggie. And to what you mentioned earlier on the cash flow side, things that don't impact your pnl, things like paying principal portion of a term note, a real estate note, things of that nature. Buying a car doesn't show up in your P and L because you put that on the balance sheet until you, until you sell it. So, you know, there's similarities. And some things you record in the PNL are fairly cash basis, you know, like your rent. I love to see putting when dealers put together a projection, the assumptions that go into a PNL budget and cash flow forecast should be similar, but we have to separate those a bit in our mind because there are items that affect one and not the other.

Yeah, Chad, talk to us about that. What about failing to really have realistic assumptions in our forecasting? How do we get realistic? Because I know as a dealer it's like, well, of course I'm going to sell X amount of cars next month more than I sold the month before. And by the end of the year I'm going to be selling hundreds. How do we keep a realistic expectation and what are the dangers of either over forecasting or under forecasting the reality?

Sure. The most recent forecast I just put together, I like to look at the last 12 months. I look at history, but I like to look at the last 12 months. But then I also like to look at the last quarter as far as the numbers. So maybe the average purchase price for a car. If you look at the last 12 months, that dealer was spending on average about $9,500 a car. But if you look at the last three months and it jumped up to about 10, 8. So you know, really making sure you understand what today's number is, not what the average of the last 12 months was. You know, looking at interest rates as a, for example, a lot of, you know, maybe just plugging in an average interest rate for the year. But we are what it is today. But we know that that interest rate is going to climb monthly or quarterly, you know, throughout the year. We would anticipate it climbing. So you know, I think, I think we get caught up with a stagnant forecast at times and we're not, you know, we don't either change it monthly based on what we know the rest of the year is going to look like and we just look at today. But we also need to make sure that when we look in the past that we're, we're not grabbing old information the way car prices and labor rates and costs and all this is changing so quickly on us month over month. We can't get caught up in just a last 12 month average. Or this was my actual just going to divide it by 12 and call it a day.

Hey, real quick, just to bust in here, make sure you guys know Buckeye Dealership Consulting. If you guys are listening to this, it is the 26th of January, hopefully you are on a plane to Orlando.

To hang out already in Orlando maybe.

Yeah, you might already be there. You could be standing next to him while you're listening to this.

And you know what? Not everybody that's going to be at this meeting is currently probably using their reinsurance to their capabilities. So what I would say is while you're at the DPG meeting this week, talk to Brett, talk to Jason, talk to the guys there. That can help you maximize your profits and your tax savings by using your reinsurance properly. Again, the best way to build wealth in this industry is by using your reinsurance company to its maximum potential.

And do me a favor, if you listen to this and you're at the meeting, go up to Luke and ask him where Jeff is. Say, hey, where's Jeff? Luke loves it when everyone thinks that we're tied at the hip. So don't say that I told you, just go up and ask him. I think what you're saying too is like, we talk about getting in every single month and updating it, not just like doing it in January and then just forgetting about it until next January. You've got to go in and then re project be like, oh, man, you know, my January, February did not do what I thought it was going to do. I'm not going to be on track. So let me readjust everything and get my numbers back in line to where they're actually going to be. The other point that you brought up, which is really interesting, is we say that the projections like, I want to sell more cars next month than the month before or by January, by July, I want to sell more cars. Well, what does that mean? Like, well, that means I gotta, I gotta spend that much more in advertising dollars. Well, that means I gotta have that many more cars floored. Well, that means I'm going to hire a new salesman. Well, when do I hire the salesman? I don't hire him in the month that I think I sold that many cars that made money, I gotta hire him two months beforehand. So I'm paying him to be on payroll two months beforehand. And what does that mean for my office expense and what does that mean for my recon dollars that I gotta spend? So I think as dealers, we just think like, oh, well, this month I'll sell this month, then I'll make this much. And so I still made money. And it's like, no, no, no, no. You have to pre spend a lot of money to even get there. And then what happens if you pre spend a lot of money and you don't get there? How long can I hold that bet? How long can I hold onto that rain and try to get there until it just eats away my profit for the entire quarter?

So when you put a forecast together, I think that's why it's important to look at it on a per account or a per sale or some kind of unit measure. Right? To say my advertising dollars are you know, $300 a unit or a sale. And if I'm going to sell 30 this month or I'm going to sell 60 in two months, right. You're adjusting your advertising, you're making the assumption. So you want to have an interactive kind of model that you can then make those assumptions and changes, but it automatically updates the expenses that are tied to those unit, type of production or number of accounts that you're going to carry. There's always a cost, whether it's a collection cost, a repo cost, wholesales. All of those can be tied to some kind of unit measure and project it out.

Maybe to add that without getting too technical, you know, visually most of us are visual learners. I'll describe what I see, you know, and if you've got a monthly projection, the first thing that I love to see done is at the top, you walk forward your expected account levels for the year. So January 1st, I have a thousand accounts in my portfolio. I'm going to sell 50 in January. I expect 20 to fall off via charge off or termination. And so I'm going to end with 10, 30. And then you do that month by month. And then that's, that can drive, you know, each month's sales projection and cost of sales, salesperson commission and your account levels can drive that charge off expense, that interest income. And so you, you know, you use the actual by month kind of projections you have in mind versus just kind of a flat across the board for the year. Here's what each month is going to be.

Yeah, yeah, I think that's really important. You know, thinking of that, like if you're setting up the model, say you're using a Google sheet or an Excel spreadsheet, like Chad was saying, doing it per unit. And don't, don't look at what you're. Oh, Well, I spend $5,000 a month in advertising. No, no, no, you spend, you know, $300 per sale on advertising. And that's how you've got the whole basis of your model has to be built on that. That's really, really interesting. I think that changes the way I was looking at it. I was kind of going into it backwards like, oh, well, this is what I spend a month and if I want to go up, I need to spend a little more. No, no, no. If I want to get to this dollar amount, if I want to get to this number of sales, this is the dollar amount I need to spend based on.

Yeah, so, and then I think you mentioned it earlier too, that the key is that you're comparing this month over month, you're looking at that unit measure, you're looking at the dollars and you're saying, okay, did this month, you know, how did it compare to what I projected? And then you're making those tweaks as you go. I mean, and then a lot of times a dealer will have an idea in his head of how much he's spending on advertising or how much he's spending in certain areas. But when you do this exercise and really lay out the last 12 months and look on a per unit basis, it's eye opening sometimes for, for the dealer to actually then say, wow, I thought I was spending $70 per unit and I'm spending 120. That's your repo cost or whatever it is, it really does open the door to say, okay, what vendors am I, Am I using? Can I, can I cut the cost? Because I used to be only paying 70. I know I was, and now it's a way to manage costs and expectations.

Yeah, I thought I was paying $150 per car sale, but I'm actually paying 600 when you account it, and my sales have gone down. So talk to us about the crystal ball. Like, how do we know that our projections based off history are going to be the same in the future? Right. I mean, we kind of got to account for that. Like, I can't really, I don't know if my cost of car is going to go up or down right now. I honestly don't know. I don't know if anyone knows if the market's going to go up or down on cost of car. Now, interest rate, probably pretty safe to assume that you're not going to get a better interest rate over the next 12 months. Your bank's not lowering that adjustable line anytime soon.

Feds aren't working for us right now. I'll take that. That's a great point.

Right?

You don't just want to rinse, repeat what you did last year. You want them to be meaningful. And if you can implement, you know, the kind of per unit type of analysis that Chad's talking about and the, you know, your, your, your portfolio changes into your results and that's going to be pretty meaningful.

Right?

I always caution conservatism slightly. Like, we think prices are softening. That's what we hear. And that's what I hear a little bit from dealers, but we don't know if that's going to be the case across the board. And tax time always jacks that up. That that anyway. And so I caution a little bit of conservatism there, but you know, to really, I guess get meaningful projections throughout the rest of your, you know, P and L budget cash flow forecast. Take 20 seconds on each line, go line by line and think about the story behind, you know, each of your spend and each of your revenue sources. And like the interest rates, a good one.

Right.

Feds are probably going to raise rates another 2 to 3%, let's say. And my portfolio is growing so my debt balance is going to grow. So my. Would it be reasonable for my interest expense to stay flat?

Not at all.

It's going to be up 30 or 40% or heaven forbid, I've got a software conversion in March of all of all months and my software spend is going to, is going to double or shrink or whatever the case may be. I think you know your business well enough to be able to make an educated guess on what is going to happen with a lot of the, you know, expenses within your structure.

But, but I think then to take that next, the next step is because we can't look in that crystal ball and see the future. I think it's important to understand your forecast and what happens if the worst case scenario happens. You know, what if interest rates went up 5%, what if my portfolio shrunk, you know, you know, what if I lose my sales manager who, you know, whatever the case might be, you know, I think there's, you know, you want to toggle and look at worst case scenario versus best case scenario to understand if you have the cash then to ride that storm if the worst case comes through. So, you know, stress testing the model to make sure that, you know, what boundaries do I have to stay within before I go broke?

All right guys, one more time. Primal End, a new sponsor of the podcast. We haven't had them on yet for a spotlight. We need to get them on, but they are the go to if you need some capital.

Yeah. And again, if you're at DPG this week, go talk to Todd Gates. He will help you get a line of credit even if it's not with them. That's what I love so much about primaland is they can put you in the right direction if your books aren't right. Talking about today, having our books right.

Have our projections right.

If you don't have all that ready yet, you may not be ready for a line of credit. But these guys are prominent, really, really help dealers and they will help you get in the right direction to be better in the future. Right, Yep.

Yeah, you got to have all your eyes dotted and T's crossed if you want to go to a lender and try to get some credit or try to get a line or any of those types of things. So that's where these things come in so handy. So back to the podcast. Yeah, I think that's important because dealers are just like eternally optimistic. Right. We think we're going to be able to sell more cars and we're not going to have more expenses and payroll is not going to go up by 30 or 40% this year. And all these kind of rosy eyed assumptions that we make to try to prove to ourselves that we're good business owners, you know, and that we're going to be profitable and that we should stay here and not go, you know, jump ship and be in construction or something. So we want to make it look like we're making money. But so many, so many of those areas. Yeah, you've got to be careful that you're not too rosy eyed. And so what is that worst case? Hey, if I get hit here, hit here. I was looking at one the other day and someone was asking me like, what are, what's your credit card processing fees? And I'm like, oh, I think we're like, you know, two, $3,000 a month. And then I was like, wait a minute, if I Times that by 12 months, am I really paying $36,000 a month in credit card processing fees? I'm like, what in the world, that is insane. I'm like, I gotta fix that. I gotta do something, you know. So when you see those projections and you actually look at them, like, wait a minute, yeah, that 500 or a thousand dollar, you know, software or expense that happened to happen, or this, I don't know, we were buying pizza every single Monday and Tuesday and Wednesday for the lot. Like when you look at those, you're like, whoa, that, that really adds up. Like, is this, do we have to have this or can we find a better route or, or do I just need to plan on it?

I think if done properly and a lot of thought is put into your projection, you know, looking at what happened recently, both in your P L and cash flows, I love it. If I can task a controller or bookkeeper with laying out, hey, November and December, show me all the deposits from your different sources, you know, customer payments, downs, insurance checks, blah blah, blah, and all of your outflows. And let's categorize this and break it down. If you can put meaningful thought like that into a projection or budget you could potentially come up with game changing decisions for your, for your business. We spend so much time working in our business that we can't work on it and ways like that.

Yeah, absolutely, 100%. So I would almost say when you make those projections, you almost take that spreadsheet, build it out and then maybe you copy and paste it into different tabs and say okay, here's my best guess and then I'm going to adjust it a little bit on this one and have my worst case scenario and then you probably need to have one. I mean you guys mentioned as one of your key points is what's the audience, you know, who are these projections going to? And we need to keep that in mind sometimes too. Right. Like we don't want to send our most rosy projection, you know, out and about, but does it matter who we talk to?

I'll take it. Yeah, it does.

Right.

You, I feel like with the stakeholders in your business, investors or lenders, those are all about managing expectations. Especially in challenging times. If you're sending your best projection to a lender that you aren't in wonderful standing with, when you don't hit it, you've got to explain it. And that's a tough conversation.

Yeah.

So I always, and this is beyond bhph, I saw this in other industries. There's, there's the, the in house projection and then there's the bank projection which is depressed.

Right.

And you, so, so you can get above it. But you know, something to bear in mind is like how, how that end user, how that viewer is going to look at your, at your projection. So like the bank for instance, if you've got a line of credit, you probably have covenants built into that guardrails.

Right.

We want to make sure you're not over leveraged, want to make sure you can service your debt. And one of the first things a lender, a smart lender is going to do when they get your projection. They want, want to see that you're going to be profitable but they're also going to calculate on a napkin, you know, if your covenants are going to pass or if you know, or if you know, we got to look a little more closely and see what's going on with the business. So put yourself in the shoes of whomever you're going to give your budget to and, and think about that relationship.

Do you think you should share your budget with your key, with employees, key management or everybody? Is this something you should put up in your meetings every month, Every Quarter, whatever, and say, hey, guys, here's what we projected. Here's where we're at. Is there good or bad to that?

I think there's, there's a level of buy in you want to get from your team. You know, there's nothing worse, in my opinion, than an owner saying, you know, we can, we're going to sell 60 this month. And the team internally knows there's no way in the heck they're going to get to 40. And it's just, they're just. It's an uphill battle from day one.

Right.

You want buy in. So I always encourage the dealers to meet with their staff to make sure that they're comfortable with those numbers. Do I. Am I giving them the bottom line, payroll, budget and everything all at the same time? Usually not, but we are providing key metrics that they have control over to get their buy in and then making sure that they're monitoring those month over month.

Yeah, I do feel like sometimes those numbers are important for certain. You know, obviously you want to share those within your, you know, your recon facility. Like, you want your manager knowing exactly what you're spending per car and what the budget is there. And, and maybe your, your sales team, you want them knowing, like, hey, here's what we're spending per car on advertising. So, you know, when that phone rings, that cost us, you know, $75 in advertising to get that phone to ring. And when you take that application, that's $150 application right there based on our spend and our sales. Right. You can do the math into it. So, you know, don't just broom that customer because you didn't like the way they talk to you or you didn't think they were qualified. That's like throwing $75 down the drain. You know, be smart about those things. So I could see sharing those numbers being smart in some of those areas.

Yep.

Departmentally, it makes a lot of sense. And, and I even see some dealers open the hood a little, a little further for, for their employees to show them the whole financial picture. Because I think it's easy for employees, you know, that, that collect or take in a ton of money or only have exposure to pieces of the business to think, man, this, this owner is making a ton of money and yet he's squeezing me or, or, you know, making these various decisions. But with the, with the whole picture provided, you know, employees can see that you're not just taking money out of the business like this. This monster needs food over and over again. And Every dollar that we collect is reinvested in the business. So I'm, I'm on a team here with you, right? Yeah.

It's interesting when you talk about, you know, to your sales team, what's a reasonable gross profit? You know, what should we be marking our cars up? And I had this conversation with my sales team the other day and they're like, well, you know, probably a thousand or two thousand, because I was, you know, we kind of had this conversation about a little bit of pushback where they feel like, well, everyone says our prices are too high. I'm like, okay, that's a whole nother story that we're even talking about price. But if we want to address this, what do you think we should charge this? And I'm like, okay, let me talk to you about debt structure. Let me talk about you guys payroll. Let me talk to you about overhead. So we kind of had that conversation just lightly. But you're right. When they see you just depositing money, you know, oh, they made this, you know, and it's like, okay, well, let's look at the bottom line here. You know, I netted $5,000 for the month. You made $8,000 this month in commissions. So we're really on the right side of the desk here. Me or you.

That's right. You gotta do have to remind folks occasionally in tough times.

Yeah, it's so true. Any other words, advice or wisdom when it comes to these projections you have for dealers?

I mean, there's, there's lots of other things that, that come to mind. But you know, I think we mentioned a little bit earlier, do it by month.

Right.

Not by year. Because the. We know that the business has seasons. I, I like to, to do a postmortem both monthly.

Right.

We do a budget to. You do a budget to actual, to see how you finish. And it's going to root out some issues you might have. And then after the year, most folks maybe don't do that, you know, after the year. But I think you're going to learn a lot as you go by, by that process. And you know, there's, I, I would say utilize the tools of your DMS too. That kind of comes to mind for me. Some can help you with cash, projections and other tools that can help you if you're not quite as skilled with Excel or with kind of generating some of these calculations that dmss can often help. So those are a few that come to mind for me.

I would just add that this is not a check the box Exercise. I think this is a crucial part of doing business and being in business and that, you know, I think too many dealers just want to say they have a budget, you know, sitting on their desk, but they really didn't put the time and effort to go line by line, as JP mentioned, to really understand the workings of their business and put the proper attention to this project. So really just take the time to, to, you know, figure out what is, you know, what are those numbers, what do they look like, what's meaningful. But do it in the end of November, December, sit on it for a little bit. Maybe you revisit it the 1st of January as your year's kicking off to, to make sure that you make any tweaks for, for December and how it, you know, turned out and finished up, number of accounts. You know, maybe, you know, all of a sudden you got to, on a whim you're going to open up another location before tax time. You know, you need to throw that into the model, make whatever changes you need but, you know, really spend the time to do it right. And I think you'll actually get a lot out of it. There's, there's, you know, money findings and cost savings that can be had during this, this process.

Yeah, and that would probably be my closing argument for this is, you know, we're car guys. We know cars, we know sales, we know people and we're really asking. We're forcing us dealers to be accountants, we're forcing us to be budgeters, we're forcing us to be business owners and look at spreadsheets and calculations and formulas and assumptions and all these things and we can kind of get there like, that's all right. We need to know that. We need to learn what a balance sheet and a P and L is. But I don't know that I'm going to have my accounting degree anytime soon. You know, I'm not going to be a CPA in this lifetime. So that's the argument. Guys, if you need to reach out and get more advice, Chad, jp this is your time to plug your place. How do people get a hold of you when they realize they aren't accountants, they're just car dealers?

Sure. Obviously we're with Martin Bryan, Accounting Consulting. We actually, finally a lot of people have been asking. We're getting a website put up. It's probably still going to stay under construction this weekend, but it's mbac-accounting.com or they can find us on a Facebook page. LHPH or what is it? JP I forgot it already.

BHPH and LHPH Forum and Resource Center.

I think that's.

Yeah, you can find us there or I'll give a phone number even. 479-685-9434. Feel free to, you know, call anytime. We love talking shop and talking with dealers and we'd love just, you know, help you develop a process or, or just talk through what, what you have going on.

Yeah, that's one thing I know about these two. They are very generous with their time, busy guys and getting busier every single day. It seems like I talked to a dealer who has talked to you guys or has some sort of a connection or you have got your digits inside their dealership somehow. So you guys are definitely going to. Definitely. We appreciate, I appreciate you guys being here and talking to me. I've got a ton of things to go work on. My notes list has gotten very long on how I need to change my projections and maybe make them a little more sophisticated. So. And, and of course Chad and I are going to have a personal conversation off the air here in the next day or two to really get my stuff figured out. So thanks guys for being here. Appreciate it.

Thank you so much.

Thank you. Real pleasure.

Take care.

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