Originally Posted by
percy
Pretty much agree.
One of the most important things is business is saying "We appear to have a problem".That said,what is the problemd? Next they fix it.
Successful companies I have invested in have said it....Ebos' Mark Waller said at one agm,"We are wasting our time in Australia,we either get big or get out." They got big.! Same with Mainfreight."We either fix it or get out".They fixed it.They are still fixing Europe and USA.They will.
So Turners problems.
Autosure.Problem of under costing of European cars,and over costing Japanese cars identified.So they know what the problem was and have adjusted their pricing.
MTF unsecured loans.Problem known.Turners now right at the start of the loan origination. Lending criteria tightened.Originators sorted.
BuyRight cars.Old stock.Problem known.Problem sorted.
Staff adjusting from auction to sales.Staff training is helping.[Interesting Turners management/staff certainly got on top of BuyRight cars quickly].
Previous problems.
Poor site for Truck sales at Wiri.Fixed with the fantastic site developed at 160 Roscommon Road.
Lack of penetration in Auckland.Sorted by buying BuyRight Cars.
Lack of Finance in South Island.Fixed buy buying a South Island Finance Company.
Future problems or opportunities.
Develop a major site in ChCh for Turners Car Sales.
Develop a major site in Auckland for Turners Car Sales.
Develop a number of Turners Car Sales in Auckland's North Shore.