As you likely know by now, I decided to cancel the CADEX event. As a final point of closure, I thought I would use this column to share some of the feedback I’ve received since making that decision.
For those of you who were not aware (we sent out the notice as an e-newsletter), here is a portion of the notice:
When we started planning CADEX, I said to our prospective sponsors that I wouldn’t take their money if we were going to put them in a room full of other sponsors. I meant it then, and I still do. It’s important to recognize that it’s the sponsors who make events like this possible. The support they provide lets us secure the location, pay for great speakers, and offer appropriate hospitality.
We have had tremendous sponsor support for CADEX, and for that, I thank each and every one of them.
At this stage, while it appears we will have a room full of people, I am not comfortable with the ratio of sponsors to dealers. Simply put, too many sponsors, not enough dealers.
There have been a number of events in the past few years that have had the same problem. Two remarketing conferences in Montreal and another in Niagara this Spring offer a perfect illustration. By all accounts, each had solid content and great venues, but audiences dominated by suppliers, with too few dealers present. I don’t want to do that…
…Clearly, we didn’t hit the target with the content mix we were offering. While a good number of dealers are clearly looking forward to it, this is a numbers game, and the numbers aren’t enough.
So we’ll go back to the drawing board, and work with the industry to see what content would hit the bull’s-eye. In particular, we’re eager to work closely with the Provincial Dealer Associations who are also active in creating events for dealers in their own regions. Working together may be the best way to serve the needs of Canada’s dealers. And you, the dealer, are the one whose needs we are looking to meet.
I welcome your feedback.
And I got some. Feedback, that is.
What you had to say
It seems the trending in the industry from single rooftop dealerships to groups is very much on everyone’s mind, as much of the feedback we received dealt with buying and selling stores.
Some who don’t want to make the transition to a dealership group want to understand how to position their stores for sale, how to handle the family planning aspects, and more. This is not an easy path to take, nor an uncomplicated one.
For some others, they want to understand more about the process of buying a store, or stores. On both the buy and sell side of the equation, there is interest in understanding the types of arrangements that can be considered as alternatives to outright sale or purchase. And in both cases, we heard lots of questions around the types of advisors, partners and sources of wisdom that are connected to these transactions.
Not surprisingly, there is also continued appetite to better understand what product will be available, from new brands that might be coming to market to the impact of new corporate structures.
So we missed the mark on this one. For those dealers who had registered, and were clearly looking forward to it, I’m sorry to disappoint you. But stay tuned. We’ll go back to our drawing board, and take your suggestions to heart.
