Dealer Profit Releases Compliance Preparation; Compliance Certification Program

Dealer Profit Services Compliance Preparation and Compliance Certification Program Offers Marine, RV and Powersports Dealers with ability to demonstrate ‘good faith’ compliance effort

 

ATHENS, GEORGIA, USA, February 1, 2021 /EINPresswire.com/ — “Compliance, when it comes to identifying and protecting against identity theft, protecting against any form of trafficking with terrorists, terrorist organizations, and sympathizers, and protecting against any form of entanglement with money laundering activities, is always important for dealers – and it is also hard to manage correctly,” states Myril Shaw, COO of Dealer Profit Services. “We developed our Compliance Preparation and Compliance Certification Program to make compliance a ‘no-brainer’. It is on-demand. It is available when and as needed. It is comprehensive. It is easy!”


With the newly released Compliance Preparation and Compliance Certification Program (CPCPP) annual subscription, Dealer Profit Services (DPS) provides all Marine, RV, and Powersports dealers with the following tools, capabilities, and content:

• Complete Compliance Documents available whenever and as often as needed and fully branded for the Dealership including:

  • Red Flags Rule – Policy and Procedure Manual
  • Disposal Policies and Procedures
  • OFAC Policy and Procedure Manual
  • Safeguards Rule Policies and Procedure Manual
  • USA Patriot Act Policy and Procedure Manual

• Full Compliance Training via video content available whenever, as often as needed, and to as many dealer personnel as required – content is comprised of seven distinct video units in lengths ranging from 20 minutes to 45 minutes which may be watched on-demand and at the convenience of the viewer, with the ability to pause and return to the viewing at a later time – on completion a document in the name of the viewer is produced and made available to the dealership showing when the videos were watched by each viewer and suitable for inclusion in both the personnel file and with the Compliance Documents

  • Compliance Certification Exam to be completed by those who have completed the Compliance Training made available as a 20-question multiple-choice exam the results of which will be made available to the dealership showing the exam results, including the score and whether the exam was passed or failed, and suitable for inclusion in both the personnel file and with the Compliance Documents
  • Compliance Checklist suitable for use by the Compliance Officer and other Dealership management and designated personnel to ensure that best efforts are being made to demonstrate “good-faith” efforts in meeting Compliance rules and regulations as they pertain to protecting against and identifying Identity Theft, protecting against any form of trafficking with terrorists, terrorist organizations, and sympathizers, and protecting against any form of entanglement with money laundering activities
  • Supplemental Compliance Training Slide Deck for use as and where desired to reinforce compliance training principles
  • Social Security Area Information which helps dealer personnel identify potential identity theft through casual conversation by referring a customer’s place of birth or residence based on the Social Security Number
  • Compliance “Hot Line” Email available to any Dealership personnel for compliance or program-related questions or suggestions – note that there will be no legal advice provided 

During the period of the subscription any or all CPCPP is available on-demand and as frequently, as often as desired at the complete convenience of the Dealership and personnel.


Pricing starts at $1,999.00 for the first year and $999.00 for subsequent years with discounts available for multi-location dealerships, 20 Group participants and DPS Financial Services customers.


Additional pricing information, as well as sign-up information, is available by clicking CPCPPDPS.


Questions may be directed to: compliance@dealerprofit.com.


Myril Shaw

Dealer Profit Services, LLC

+1 678-641-8419

email us here

 

MRAA Outlines PPP Taxability Fixes to State Legislators

 

Last week, the Marine Retailers Association of the Americas submitted letters signed by recreational boating and recreational vehicle (RV) industry organizations to 15 state legislatures urging them to come into conformity with federal tax guidance on forgiven Paycheck Protection Program (PPP) loans to ensure that small businesses would not face unnecessary, and unexpected, tax burdens.

 

Each letter outlines that:

The Consolidated Appropriations Act of 2021 (H.R. 133) — which was signed into law on December 28, 2020 — authorized a second round of PPP loans, and clarified the original intent of PPP loans as tax-free stimulus with the Internal Revenue Service to ensure that (1) forgivable PPP loans are not included as taxable income at the federal level; and (2) businesses can claim normal tax deductions for business expenses paid for with forgiven portions of PPP loans.

 

The letters also contain references to the amount of PPP loans were distributed in each state, as well as the economic impact of the outdoor recreation community on each state’s economy.

 

Absent legislative action to conform with federal tax guidance, forgiven PPP loans would be included as taxable income for small business owners, going against the very intent of the program.

 

Wisconsin and Pennsylvania have come into conformity with federal guidance on forgiven PPP loan taxability. Maine will not tax the first $1 million in a business’s forgiven PPP loan. MRAA put together a resource outlining what states were taxing forgiven PPP loans.

 

The letters that were submitted to each state’s legislative leadership can be accessed below.

1.     Arkansas

2.     Arizona

3.     Florida

4.     Idaho

5.     Massachusetts

6.     Maine

7.     Minnesota

8.     New Hampshire

9.     Nevada

10.  Pennsylvania

11.  Texas

12.  Utah

13.  Virginia

14.  Vermont

15.  West Virginia

‘Making Life Better: The Correct Craft Story’ Released

ORLANDO, FL (March 3, 2021) – Today Correct Craft announced the publication of “Making Life Better: The Correct Craft Story.” This new book captures Correct Craft’s nearly century long story of perseverance, innovation, faith, and growth.
CorrectCraft book
Making Life Better, Correct Craft’s President and CEO Bill Yeargin’s third book, captures an insider view of the company’s incredible history. From humble beginnings in 1925 through the last decade of explosive global growth, the book shares the story of the company’s founders, employees and partners who together built a one-of-a-kind company that makes life better for people all around the world.

Yeargin stated, “It is an honor to share the wonderful Correct Craft story. Correct Craft has navigated through the Great Depression, helping in WWII, a bankruptcy and many other formative experiences that make it the exceptional organization it is today. Those experiences have helped us grow to a company today with fifteen facilities across the U.S. and distribution into nearly seventy countries.”

Yeargin added, “Our company is built on the shoulders of many exceptional people and I believe readers will enjoy the stories. More importantly, I hope the book will be an inspiration for those who read it.”

Making Life Better is available online through booksellers across the web.

About Correct Craft: Celebrating 96 years of excellence in the marine industry, Correct Craft is a Florida-based company with global operations. Focused on “Making Life Better,” the Correct Craft family includes Nautique, Centurion, Supreme, Bass Cat, Yar-Craft, SeaArk, Parker, and Bryant boat companies, Pleasurecraft Marine Engine Group, Watershed Innovation and Aktion Parks. For more information please visit www.correctcraft.com.

10 Dealers Push Through Certification in 2020

By Liz Keener, MRAA Certification Manager

We all know 2020 will go down as one of the hardest years in our lives, and one of the most challenging, up and down years for our dealerships. Despite all of these positive and negative obstacles, 10 dealers not only persevered through the year, but they also pushed themselves to improve.

These 10 dealers showed they have what it takes to become a Marine Industry Certified Dealership in an uncertain year. By going through MICD logothe Certification program, they discovered opportunities to improve their customer experience, employee engagement and dealership operations. 

The 10 entities include: two dealerships that are now 75 years old, two Wisconsin stores, a Florida dealer that specializes in Yamaha outboards, four locations that have joined their flagship stores in going through the Certification program and a SkipperBud’s location.

The newly Certified locations are:
• Port of Egypt Marine, Southold, New York
• Union Marine — Pacific Nautiques, Pacific, Washington
• Strong’s Marine — Southampton, Southampton, New York
• Strong’s Marine — Yacht Center, Mattituck, New York
• Strong’s Marine — Water Club, Mattituck, New York
• Eric’s Outboard Marine Service, Miami, Florida
• SkipperBud’s — Madison, Madison, Wisconsin
• Watercraft Sales, Three Lakes, Wisconsin
• Manitowoc Marina, Manitowoc, Wisconsin
• Norfolk Marine, Norfolk, Virginia

Many of these dealers on the list above have shared with us that what they learned was invaluable.“The opportunity to hear about best practices and take an objective look at our operations has been enlightening. I know that Manitowoc Marina has benefited and will continue to benefit from the MRAA Five Star Certification process,” said Dean Senglaub, Manitowoc Marina.

David Nichols of Eric’s Outboard said, “The MICD process is a dealership challenge. It can show you your strengths and your weaknesses. To take your dealership to the next level, start the MICD process. It is a personal and team challenge, with your dealership as a winner.”

These dealers are winners indeed, but they each earned their Certification honors. They invested their time and money into meaningful improvements that will move their dealerships forward. They are now equipped with new tools and resources that will, in turn, bring efficiencies to their operations and bring in new revenue for their business.

Congratulations and welcome to the Certified Dealer family!

Certified Dealer Norfolk Marine Celebrates 75 Years in Hampton Roads

This year marks the 75th anniversary of the formation of Norfolk Marine Company, a local family-owned boat dealership that still today remains in the same family that founded it. Norfolk Marine has become a landmark for residents of Southeastern Virginia in search of several premium recreational boat brands, their industry-leading full service center, and the area’s largest OEM marine parts center.

Beginning in 1946, Garland Kight, Sr. opened the first location of Norfolk Marine Company on Boush Street in downtown Norfolk. At that time the company was mostly focused on wholesale distribution and did very little business with retail customers. With continued success came expansion, quickly outgrowing their existing facilities and moving to a larger location on Front Street in 1950. In the years following, Norfolk Marine’s growth continued at a rapid rate, opening two satellite locations, one in Hampton (Hampton Marine) and the other in the District of Colombia (Capital Marine). It wasn’t until 1965 that Norfolk Marine moved to its current location on E. Virginia Beach Blvd. in Norfolk where it remains today.

1968 marked the year Norfolk Marine became one of the country’s first Grady White Boats dealerships, which they proudly maintain today as one of the only dealers to call the flagship boat line home for over 50 years. Shortly thereafter in 1972, the company welcomed the arrival of Garland Kight, Jr. to Norfolk Marine,  following closely in his father’s footsteps. In that same year under new command, Norfolk Marine made a bold move, deciding to alter their business model to become a full-scale retail operation. By the end of 1973 the company split into Norfolk Marine Company and Norfolk Marine Distributing, which would later be sold to form what we know today as Land & Sea Distributing. In 1975 the company purchased a neighboring building in order to form its first dedicated retail parts store which has grown today to house one of the largest and most diverse marine parts inventories on the East Coast. For 30 years Garland Kight, Jr. continued to modernize the business model and day-to-day operations, optimizing systems and the facility to accommodate their exponential growth in boat sales. Another key strategic move in the company’s history came in 1983 when Norfolk Marine became one of the first three dealers in the country to sign on Yamaha Marine Outboards, who they remain exclusive with today. By the company’s 50th anniversary in 1996 it had acquired two additional adjacent properties to accommodate growing inventories and became one of the first Carolina Skiff dealerships in the country.

In 2005 Kight, Jr. was joined by his son-in-law, Jason Murphy, to further grow sales and develop a modernized digital footprint including website development and integration of their first true CRM system. The highly sought-after Sea Hunt Boats line was added to Norfolk Marine’s offerings in 2007, and Murphy purchased the business in 2010 after several years in a variety of roles including President. Today Murphy represents the 3rd generation of ownership under the same family, and the company continues to build upon the legacy of growth and innovation. In 2014 the company opened a brand new 20,000 sq. foot boat warehouse and showroom on its now 4.5-acre campus. In 2016, Norfolk Marine expanded yet again with the purchase of another neighboring property to create a larger stand-alone service department, and in more recent years added Bennington Pontoon Boats and Regal Boats. Norfolk Marine today maintains not only the highest levels of volume and market share for their respective brands, but they are an industry benchmark in Customer Satisfaction scores. Throughout 75 years, the company and its employees have also maintained their focus of giving back, by annually taking part in dozens of local philanthropic events and tournaments which support a variety of causes in our community.

Dealer Week Campaign Wins Best Event Marketing Neptune Award

Neptune Award Winner Logo MINNEAPOLIS — Dealers attended Dealer Week virtually in 2020, but that didn’t mean they couldn’t learn together with their teams — and a special promotion to help them do just that was awarded a Neptune Award by the Marine Marketers of America.

The Neptune Awards, now in its 13th year, annually honors excellence in marine industry marketing. MRAA won a 2020 Neptune Award in the category “Best Event Marketing/Grassroots Promotion” for its Dealer Week “Lunch and Learn” promotion.

The promotion was a collaboration with online solution provider OperateBeyond. In order to promote attendance and collaboration at Dealer Week, OperateBeyond offered to buy teams lunch — in the form of a $100 gift card that was delivered in a branded Dealer Week/OperateBeyond pizza box.  

“We loved working with OperateBeyond on the Lunch and Learn promotion,” said Allison Gruhn, MRAA’s Director of Business Development. “In a year without in-person marketing opportunities, they knew they wanted to get creative, and the result was a fun campaign that was a win for everyone involved.”

Dealers were so delighted with the gift when it arrived, many posted photos on social media. The promotion also helped drive Dealer Week to record attendance of 1,047 dealership personnel.

Neptune Award judges wrote: “Love the idea of the lunch gift card and sending it in a pizza box was a great idea to make it social media worthy. Very engaging. Innovative idea to encourage teams to register for MRAA Dealer Week. Plus, it’s a fun way to promote sign ups.”

MRAA’s annual goal with Dealer Week is to innovate in order to provide attendees the best possible experience each year. In 2020, that approach was particularly difficult but absolutely required. As a result, the MRAA team is especially honored to be recognized in this particular year.  

“We had great feedback on our first online Dealer Week, and one of the things people liked was the ability to attend with more of their team,” said Mike Davin, MRAA Brand Director. “We’re glad to be recognized for the Lunch and Learn campaign because we enjoyed creating something outside the box, but also because it promoted a great team-based learning opportunity.”

The entire list of 2020 Neptune Award winners is available at marinemarketersofamerica.org.


Level 5 Advertising Helps Dealers to Record Breaking Boat Show Sales

With in-person boat shows cancelled across North America and dealers searching for ways to generate leads in prime boat sales season, Level 5 Advertising created a virtual boat show platform and connected dealers in multiple markets to help them showcase boating to potential boat buyers.

In both the Cincinnati and Minneapolis markets, dealers reported record-breaking sales to correspond with significantly reduced boat show costs, as Level 5 rolled out its digital show format. The dealers, then, used the online platform to create a push-pull strategy to drive traffic to showrooms, where they offered free parking, free drinks, private appointments and a clean, safe environment to sell boats.

“Working with Level 5’s approach, we decreased our boat show spend by 80 percent, and sales still increased by 31 percent,” explained Matt Lodder of Marine Sales Lodder’s, outside of Cincinnati.

Similarly, in the Minneapolis area, John Wooden of River Valley Marine said this new approach exceeded his expectations: “The Twin Cities Boat Show platform has helped us get off to the best start to a year in our company’s history, and we expect that the leads that this event generated for us will continue to be fruitful throughout the year.”

The L5 strategy was simple, says Mike Alleva, Vice President of Marine Services.  

“We used similar services to what we already provide dealers and applied them to a show format,” he explained. “With our online and in-store combined strategy, we made sure to stay away from the word ‘virtual,’ and we focused on a content is king strategy, with the content being the boats our dealers had for sale.”

Level 5 Advertising created individual boat show websites — CincyBoatShow.com and TwinCitiesBoatShow.com —that listed all the participating dealers and drove traffic there with advertising and promotions on local and connected television, Google, Facebook, Instagram, and YouTube. The dealers decided the dates and created the show environment in their physical locations.

“When we keep the focus on the inventory that the buyer is looking for, and we guide them to the dealership showroom, we all win,” said Todd Wilkins, Chief Business Officer of Level 5 Advertising. “Our goal, in everything we do, is to connect potential buyers to the boat they are looking for and the dealer that sells it. These shows were big wins for our dealers, and we are very excited as an organization.” Additional digital marine shows continue to launch in the United States.

Level 5 Advertising is a full-service marketing agency specializing in the Marine, RV and Powersports industries. Our mission is to enrich the lives of the people we touch from our employees to yours. We are passionate about delivering true ROI by constantly managing, measuring, and optimizing your marketing. We don’t “set it and forget it” like so many of our competitors. We utilize the latest technology, cutting-edge creative, and overall best practices to move your dealership to the next level.

National Powersport Auctions Joins MRAA as Partner Member

NPA Sponsors MRAA Weekly Ask the Expert Webinar Series for Dealer Week Attendees

MINNEAPOLIS —  Feb. 24 — The Marine Retailers Association of the Americas announces National Powersport Auctions has joined as a Partner Member. NPA has also partnered with MRAA to sponsor its weekly post-Dealer Week Ask the Expert Webinar series.   

 

NPA, a pioneering leader in the powersports auction industry since 1990, is expanding its pre-owned remarketing services into the marine market. Based in Poway, Calif., NPA serves lenders and dealers throughout the nation with a complete range of auction-related services. Its weekly live pre-owned auctions are held at 10 sites around the United States, while NPA Simulcast™ technology allows authorized dealers who cannot attend to bid virtually.

“National Powersport Auctions is excited to partner with the MRAA in 2021,” said Damon Puckett, National Business Development Manager of RV & Marine. “As we continue to grow and expand into the marine market, we believe this is an invaluable partnership that will allow us to share with MRAA’s members the benefit of selling and sourcing used inventory through the auction. NPA offers boats and PWCs at all 10 of our nationwide locations, plus has specialists on hand at each facility to properly process each unit with our proprietary 100 pt. condition report. With weekly live and online auctions, members have ample opportunity to buy and sell inventory, track wholesale market trends, and leverage a wealth of additional resources. We are extremely excited about all the opportunities this partnership provides!”

NPA gives registered dealers the opportunity to buy and sell their pre-owned powersport, boat and RV units through its proven auctions. With NPA ValueGuide Plus™ and other resources and benefits, dealers are able to gain insight into vehicle values and projections, down to the specific unit.

NPA continues to sponsor the Ask the Expert Webinar series through Thursday, March 18. The remaining post-conference Webinars, reserved for Dealer Week 2020 attendees, air at 11 a.m. CST on their respective days.

Remaining post-conference MRAA webinar schedule:

  • Wednesday, Feb. 24 — Bob McCann and Jim Million; “Dig Deeper-Are the Gaps in Your Sales Process Filling in?”
  • Thursday, March 4 — Max Materne; “Rethinking the Service Department”
  • Thursday, March 18 — David Spader; “Follow-up on Moving Beyond Burnout Department”

Marine manufacturers, suppliers and service providers, through Partner Membership, commit to aligning their brands with the programs and opportunities that MRAA works to provide the dealer body in order to help fuel the success of the industry. Support from Partners allows the Association to expand its offerings and create a positive, long-term impact in the business of MRAA members.

“We are excited to gain NPA as a Partner Member with the MRAA,” said Allison Gruhn, Director of Business Development. “A highly reputable name within the powersports realm, NPA’s expansion into the marine industry is both welcomed and ideally timed. Its expertise and knowledge of selling and sourcing used inventory will be a big benefit for dealers. We value its support and association with MRAA and look forward to generating resources for our members.”

About the Marine Retailers Association of the Americas
At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.

 

About National Powersport Auctions:

Established in 1990, National Powersport Auctions (NPA) is the world’s leading provider of powersport vehicle remarketing services. NPA’s nationwide footprint serves the industry’s largest financial institutions, manufacturers and dealers through a multitude of live and online selling platforms. NPA also offers comprehensive data services, including the NPA Value Guide™, the industry’s most accurate wholesale valuation tool. NPA has company-owned and staffed facilities in California, Colorado, Florida, Georgia, Ohio, Oregon, Pennsylvania, Texas and Wisconsin. NPA is a wholly owned subsidiary of Copart, Inc (Nasdaq: CPRT). For more information about NPA, visit: www.npauctions.com

 

 

Biden Admin. Targets Smallest Businesses, Self Employed with Newest PPP Guidance

The Biden administration announced new guidance on Monday to target aid to the smallest employers in the nation by granting qualifying businesses exclusive access to PPP for fourteen days beginning on March 9. 

To be granted access, businesses with fewer than 20 employees will be given exclusive access for fourteen days. The Small Business Administration will also work directly with lenders and small business owners to seek out qualifying businesses to ensure they are aware and utilize the program during this window. 

Other changes that may affect your dealership include new changes to PPP eligibility calculations help sole proprietors, independent contractors, and self-employed individuals to receive additional financial support. The Biden administration is setting aside $1 billion for businesses in this category. 

The SBA will eliminate restrictions on business owners with non-fraud felony convictions, and business owners who are delinquent on their federal student loan payments that made them ineligible to apply for PPP. 

Without new legislation, PPP expires on March 31. Applications received by larger businesses prior to March 9 will continue to be processed on time and will not face a delay, according to SBA.

The U.S. House of Representatives is set to vote on Biden’s proposed $1.9 trillion American Rescue Plan on Friday or Saturday which would include an additional $7 billion for PPP. 

For more information or any questions, please reach out to MRAA’s government relations manager, Adam Fortier-Brown at adam@mraa.com. 

‘Mondays Suck!’ or ‘I Can’t Believe I Get to do This!’

“Mondays suck!” or “I can’t believe I get to do this!” Which one of those phrases resonates with you today? Attitude is everything in the way you carry yourself, interact with others and in turn, influence others. That’s where this educational opportunity comes in.


There’s also an opportunity for those of you who might have read those two phrases and said … “Monday’s don’t phase me anymore and I definitely don’t love what I’m doing right now.” If this is you, take a deep breath and find some answers in the section titled “Burned out?”


Back to good or bad attitudes … In the MRAA training course “A is for Attitude” with Sam Dantzler of Wheelhouse College, he says that most people just go through life reacting to everything that happens. They don’t realize it’s not happening to them, but rather because of them.


His tip to you? Have a team conversation about attitude.


“If you get your attitude right, all of the rest of it will figure out. I can’t have anyone come to work with anything other than a I can’t believe I get to do this mood.”


Sam uses science, psychology and astrology to explain attitude in a way that is extremely interesting and entertaining. If this course sounds like the refreshing reminder you need for yourself and/or your team, follow the simple steps below. If you rolled your eyes and grumbled about not being able to handle this right now, skip ahead to “Burned out? Yep, that’s me.”


MRAA Silver and Gold Members can access this month’s “Training ‘N’ Tactics” simply by logging into MRAATraining.com and clicking on “2021 TNT” in the dashboard. Or use the search function to find it. The cost will zero out.


If you’re not a Silver or Gold Member, you can become one! Learn more here.


Burned out? Yep that’s me.

For those of you who are completely overwhelmed mentally, physically, emotionally, or all the above, we hear you and want you to know that this is a sign of burnout. Maybe you skip this month’s TNT session (but obviously don’t forget about it next month) and take the future recommended TNT course called “Moving Beyond Burnout.” David Spader, of Spader Business Management, spoke to MRAA Dealer Week 2020 attendees about the importance of recognizing and working through burnout.


So, if this scenario is more you or your team, you have three options:

  1. Use your MRAA Dealer Week registration to log in and watch the recording of the course available to you until March 31. If you’re not registered, you can still register to gain access to this course, the expo hall and 30+ other educational opportunities. FYI, we’re also doing an MRAA Ask The Expert Webinar: “Follow-up to Moving Beyond Burnout” with Spader on Thursday, March 18, for Dealer Week attendees. This webinar is sponsored by MRAA Partner Member National Powersport Auctions.
  2. Become an MRAA Silver or a Gold Member to access the course after it’s unavailable on Dealer Week (March 31). Our TNT Series will be revisiting this course in August.
  3. We get it, if you didn’t register for MRAA’s Dealer Week, it feels like you don’t have a choice in accessing this course. Reach out to us! We’d love to help you find a way to gain access.

While it’s easy to simply state “check your attitude at the door” or “adjust your attitude,” we also have to realize, when we’re in a state of burnout it typically means we’re in a more negative environment and mental state. It may feel like things aren’t going as well for us — when things are crazy busy or constantly changing, it’s difficult to respond intelligently and many respond instinctively.


You can see how negative environments and negative energy created by stress, change, poor culture and more can easily and negatively alter our once positive attitude. Even just changing attitude might not be enough. But, recognizing where your employees are at, could save you in the long run and in turn, keep the people who you value the most.