How Brian Benstock continues to push his business to new heights

Today on Inside Automotive, we’re pleased to welcome back the no.1 certified Honda and Acura dealer globally, Brian Benstock, Partner GM and Vice President of Paragon Honda and Acura. Benstock sits down with Jim Fitzpatrick to discuss how his stores are performing today and what their goals are for the future.

In light of robust profitability throughout the franchised dealer network, many stores have decided to reduce their marketing and advertising budgets. However, customers are searching for cars now more than ever, and they are willing to travel further outside of their radius to find them. From his perspective, car dealerships need to make sure that can be easily found online. They need to prepare for the long-term. Advertising takes time to ramp up and it’s important to stay engaged for when new vehicle inventory returns.

“You know my partner, Paul Singer said to me many years ago, ‘the seeds of failure are planted in the soil of success,'” explains Benstock. “When you’re drunk on the profitability that you have now, you take your eye off the ball.”

The likes of Tesla, Carvana, and Vroom are knocking at the door. There is also an explosion of Chinese companies entering the electrification sector. Apple as well in claiming its territory in the automotive industry. There are the things that keep Benstock up at night. He says dealers should not underestimate Apple CEO, Tim Cook. He has taken the company into the stratosphere and will continue to do so by getting involved in the transportation industry.

“Change creates opportunities,” says Benstock. “Remember, entrepreneurs are in business for one reason, to solve problems.”

Did you enjoy this interview with Brian Benstock? Please share your thoughts, comments, or questions regarding this topic by submitting a letter to the editor here, or connect with us at newsroom@cbtnews.com.