Understanding the current financial state of the farm equipment industry is crucial to establish benchmarks and comparisons for your dealership. Equipment Dealer Consulting LLC, the certified accounting firm affiliated with Western Equipment Dealers Assn. (WEDA), has released the 2019 Cost of Doing Business Study, a financial and business operations study providing you with straightforward guidelines for analyzing the profitability of equipment dealerships including all brands across the United States and Canada.
Join Farm Equipment and WEDA for our next free webinar, An In-depth Review of the 2019 Cost of Doing Business Study.
Gord Thompson, Trent Hummel and Curt Kleoppel, CPA, CVA, review and analyze the findings from this year’s report and what that could mean for your dealership in 2020. Gord, Curt and Trent evaluate and provide commentary on…
- Changes in equity and gross profit margin
- Decrease of inventory as a percentage of assets
- How dealers are controlling their inventory and used assets
- How to use this report for valuations, estate planning and mergers across North America
Date: Wednesday, September 25
Time: 2 pm Central Time
Speakers: Gord Thompson, Trent Hummel and Curt Kleoppel, CPA, CVA
If you are unable to attend the live webinar, register today and we’ll send you a link to view a video replay of the webinar after it has ended.
The Cost of Doing Business Survey was sponsored by Iron Solutions.
About the Presenters
Curt Kleoppel, CPA, CVA, Chief Financial Officer, Equipment Dealer Consulting
Curt brings a wealth of experience in financial reporting and tax to our dealers, having worked with Regional Associations in the farm equipment and hardware industries for over 35 years. He is currently the CFO for Western Equipment Dealers Association and President of Equipment Dealer Consulting, LLC. As a long-time partner with Western Equipment Dealers Association, and under Curt's leadership Equipment Dealer Consulting, LLC provides accounting, audit, valuation and tax services to members of the Association. He is a member of the American Institute of Certified Public Accountants, Missouri Society of Certified Public Accountants and the National Association of Certified Valuation Analysts.
Trent Hummel, Management Consultant, Dealer Institute
Trent Hummel is a lead trainer consultant for the Western Equipment Dealers Association’s Dealer Institute. He provides onsite training and public courses to improve dealership asset management and business operations. Trent’s 25+ years as both an owner and general manager has provided him with invaluable experience and extensive knowledge in managing and leading dealership operations. His management of inventory (turn, aging and margin) has resulted in rejuvenating stagnant dealerships into extremely profitable organizations. Prior to cashing out in 2010, his dealership was in the top tier for profitability and equipment turnover. Trent’s unique ability to improve operations with an unwavering commitment to strong inventory control, along with successful sales
Gord Thompson, Management Consultant, Dealer Institute
Gord began his career with a national accounting firm prior to joining his family’s CIH dealership in 1986. He was dealer principal and general manager of the two-store dealership in Saskatchewan until 2014, when he sold it to Redhead Equipment and in 2015 retired from Redhead. As a dealer he served on the board and as president of the Canada West Dealers Association, now the Western Equipment Dealers Association. His dealership also belonged to a 20 group throughout that time. In 2016 he joined WEDA’s Dealer Institute as a trainer, specializing in dealership financial management and training dealer staff on understanding and utilizing financial information.
About Equipment Dealer Consulting, LLC
Equipment Dealer Consulting, LLC is a long-term partner of Western Equipment Dealers Assn. and was created to provide financial services for dealers. The accountants for Equipment Dealer Consulting, LLC have more than 90 years of combined experience in the farm, outdoor power, industrial and construction equipment businesses, as well as the hardware and building materials industries. The Equipment Dealer Consulting team members are licensed in Missouri, Kansas, Iowa, Oklahoma and Texas. They are also members of the Missouri Society of CPAs and AICPA. Visit www.eqdealerconsulting.com for more information.