CLIENT PROFILE
Schwieters Auto Group owns and operates one Ford and two Chevrolet dealerships in central Minnesota, providing new and used vehicles as well as automotive parts and service. It’s focused on delivering top-tier customer service in state-of-the-art facilities.
THE SITUATION
The owners of Schwieters Auto Group have been working with Wipfli for over 20 years. During that time, they’ve grown from one to three very profitable dealerships because they have been strategic about how they grow and acquire other stores. While they originally engaged Wipfli for accounting and tax solutions, they realized they could also utilize our wide range of consulting services to help them develop and pursue their strategic direction.
THE STRATEGY
The solid accounting and tax foundation Wipfli built with the owner group created a high level of trust that paved the way for other valuable solutions. Over the years, Wipfli has performed business valuations and cost-segregation studies, advised on technology and cybersecurity, structured retirement plan benefits, streamlined reporting, ensured compliance in various areas and provided M&A services that have helped the owner group acquire two additional dealerships.
The Wipfli team also performs annual year-end benchmarking analysis and planning in order to help Schwieters Auto Group build out the following year’s strategy and ensure it is continuously improving its operations. Wipfli has ongoing communication with shareholders to update them on industry trends and explain the year’s profit distribution.
On the tax side, the Wipfli team provides comprehensive tax planning to fully utilize the changes in tax reform. The team delivers high value in other ways as well, helping Schwieters Auto Group streamline the closing of its books and tax reporting and providing a comprehensive review of existing operations and potential acquisitions. This streamlined reporting process allows the team to be proactive in tax decisions and focus forward.
WHAT WERE THE RESULTS?
Using solutions like enhanced tax planning, streamlined processes, strategic benchmarking and M&A advice and analysis, Schwieters Auto Group is one of the most profitable and successful dealership groups in Minnesota. Just engaging Wipfli’s cost-segregation studies has saved the group millions when acquiring a dealership and increased its cash flow.
The group is in continuous dialogue with Wipfli about its strategic direction, trusting us to advise on potential new M&A opportunities and serve a critical role in carrying out the acquisition, just as we have in the past.
