Jim Rhoads not only relocated to a new state; he also is rebranding his buy-here, pay-here consulting operation.
Late last year, Rhoads moved from Sherman, Texas to Sandy, Utah. Operating since 2005 as Four R Consulting, Rhoads announced that his new company has taken the name of BHPH Consulting.
“BHPH Consulting better represents who we are and what we do.” said Rhoads, who has served as a consultant, trainer and analyst with BHPH dealerships and subprime auto finance companies in 26 states and counting. “This is especially true now that we are expanding our services to include mergers and acquisitions and capital solutions for buy-here, pay-here.”
In recent months, Rhoads has started to facilitate the sale of established BHPH dealerships. Serving as a consultant and advisor, Rhoads is connecting buyers and sellers.
“Our experience in that segment allows us to advise dealers in valuation and strategies for a successful exit,” he said. “Plus, having been in buy-here, pay-here since ’97, my professional network is quite large. We know buyers and sellers and lenders and vendors — just about all of those most active in the industry.”
BHPH Consulting is also facilitating lines of credit and other financing services for BHPH dealers, including startups and those in the earliest stages of growth.
“A large part of my career has been in working with startups and helping entrepreneurs to develop a business plan as they enter BHPH,” Rhoads said. “I developed my own cash flow forecasting tool in 2005. We know as well as anyone that BHPH dealers need access to capital, especially in the first 24 months.
“As industry experts and analysts, we are now acting as a ‘watchdog’ in a management capacity on behalf of lenders or investors who wish to lend or invest in the subprime auto space,” he continued. “We monitor the lines of credit by tracking and reporting portfolio performance weekly. We also verify assets and prepare a weekly settlement report for all parties involved.
“Our management and oversight solution becomes an important way to link lenders and self-financed auto dealers,” Rhoads added. “The funding process I designed protects all involved in the most sensible way possible and allows dealers to gain access to growth capital in a space where money has traditionally been scarce.”
More details about his consulting services can be found at .