#55 Double-digit increases in dealership auto theft, Adapting to the future of cars, Losing $10,000 a year in keys | Steve Baucom, President of KEYper Systems

In this episode, I'm speaking with Steve Baucom, President of KEYper Systems

This episode is brought to you by:

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Topics:

(00:00:00) - Intro

(00:02:40) - Steve’s journey into auto

(00:04:37) - Realizing the major key problem in the industry

(00:06:25) - Financing the business

(00:07:12) - Did you have a gut feeling of ‘this is going to work’?

(00:08:35) - How were you able to build this 35 years ago?

(00:11:28) - Is there still opportunity for niche hardware businesses in the car industry?

(00:13:24) - How do you innovate against the possibility that keys will go away?

(00:15:33) - What is the practical next step for keys?

(00:17:20) - How do you maintain a culture of innovation?

(00:19:38) - What does your product look like today?

(00:21:48) - Selling the company

(00:25:52) - Is there competition in this space?

(00:29:04) - What theft trends do you see at dealerships?

(00:32:39) - Crazy stories

Check out Keyper here.

Get in touch by emailing sales@keypersystems.com

Check out the website for more (https://dealershipguy.com) and follow me on X @GuyDealership! (https://x.com/guydealership)

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.