In addition to monitoring their sales mix, their new and used inventory turnovers, and their gross margins for new and used equipment, dealers interested in optimally managing their sales department should also continually monitor their sales personnel compensation.
In addition to monitoring the department sales mix, the equipment sales mix, and the new and used equipment turnover, dealers and sales managers should also vigorously monitor their new and used equipment gross margin.
In today's competitive market, dealerships need to find new strategies to increase their profitability. For a closer look at how to optimize and increase efficiency in your service department sign up for Farm Equipment magazine's webinar "Better Communication, Greater Profits."
In a survey conducted several years ago on how equipment dealers compensated their sales personnel, it was revealed that 30% of the dealers paid their sales personnel on the basis of salary while 28% of the dealers paid their sales force on the basis of "cash difference." While salaried sales compensation was the basis of last month's column, this column will explore the nuances associated with paying sales personnel on the basis of the cash difference that is "drawn"? on each transaction.
Jean-Christophe Giroux, Manitou President & CEO declared: “Q1’12 comes in as the prolongation of the 2011 momentum, to substantiate our 2012 operating plan. The combination of growing revenue, sustained order intake and high backlog provides some good visibility for H1 and even beyond. Things are indoubtedly getting more and more difficult in Southern Europe but Northern Europe, US, and Asia are showing resilient signs for positive business.
Dealers report that the way that equipment rollover programs are currently constructed leaves them with “skinny” margins at best. In some cases, it’s are a zero-sum game.
Not only did CNH issue its first-quarter earnings report, but it also announced that it plans to spin off its farm and construction equipment as well as its heavy truck businesses.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at President Trump's tariff reduction on ag equipment, the latest dealer sales forecasts, and how high input costs are keeping farmer sentiment down.
Since 1980, A&I Products has become a leading manufacturer and wholesale distributor of aftermarket replacement parts for the agricultural, turf, and industrial equipment markets. A&I Products' experience and expertise has greatly contributed to the company's reputation as a top supplier of quality, reasonably priced parts. Founded with roots as a small machine shop and repair facility, the company made the transition by manufacturing new parts to replace those that were identified as commonly needing repair. Throughout the 1980s, the company quickly garnered a reputation for offering quality parts at a reasonable price.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.