Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with Fred Beans, owner of Fred Beans Auto Group where we discuss: his iconic career in the car business, wealth-building tips from Warren Buffet, the journey from farmhand to dealership mogul, his succession plan, and much more. This episode of the Car Dealership Guy Podcast is brought to you by: OPENLANE - The world’s best online dealer marketplace for used cars, bringing you exclusive inventory, simple transactions, and better outcomes. New to OPENLANE? Sign up now and receive a $350 buy fee credit. Learn more at https://www.openlane.com/ Uber for Business - With Central, you can request a ride on behalf of your customers even if they don’t have the Uber app. If you’re ready to reduce the costs associated with maintaining shuttles and limit the liability of loaner vehicles, it's time to partner with Uber. Visit http://t.uber.com/CDGauto today  Car Dealership Guy News - The #1 source for concise and unbiased car industry news. Stay informed with the most relevant and interesting stories by visiting https://news.dealershipguy.com/ Interested in advertising with Car Dealership Guy? Drop us a line here Interested in being considered as a guest on the podcast? Add your name here Topics: (00:00:00) - Intro (00:00:50) - Fred’s background and career (00:04:00) - What was the industry like back in the ’60s and ’70s? (00:06:56) - How have you reinvested your wealth over your career? (00:09:27) - What has the learning curve been like over your career? (00:10:31) - What does your business look like today? (00:11:52) - How did you approach growing your business? (00:15:55) - What does your daily regimen look like? (00:19:45) - Has the car business meaningfully changed over the past 30 years? (00:22:30) - What led you to build your parts department? (00:27:53) - How do you think about the future of dealerships? (00:29:50) - Have you ever thought about divesting? (00:30:45) - What does your succession plan look like? (00:32:27) - What’s your advice to up-and-comers? (00:33:34) - What brands are you bullish on? (00:35:11) - Was life better 50 years ago? (00:37:24) - What are the biggest customer pain points today? (00:40:00) - Parenting (00:44:15) - Floor plans (00:46:41) - How do you approach business opportunities at your scale?  (00:49:48) - Questions for Yossi (00:52:24) - Growing by staying small (00:53:23) - What are the first four pieces of information you would ask for if you took on an underperforming store? (00:56:47) - What message do you want to leave? Check out Fred Beans Auto Group here. Check out Car Dealership Guy’s stuff: CDG News - https://news.dealershipguy.com/ CDG Jobs - https://jobs.dealershipguy.com/ Instagram - https://www.instagram.com/cardealershipguy/ TikTok - https://www.tiktok.com/@guydealership X - https://x.com/GuyDealership LinkedIn - https://www.linkedin.com/company/cardealershipguy/ Everything else - dealershipguy.com This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.