Equipment Dealer Consulting, P.C., the certified public accounting firm affiliated with Western Equipment Dealers Assn. (WEDA), has released the results of this year’s Cost of Doing Business study.
The survey was established in the 1980s to analyze the financial picture of equipment dealerships in the U.S. and Canada. The survey compiles data from independent dealers who provide detailed financial and operational information for their individual businesses, which is compiled in a template that creates average income statements and balance sheets, in addition to key financial performance indicators.
According to Curt Kleoppel, President of Equipment Dealer Consulting, a wholly owned subsidiary of WEDA, the combined gross profit margin percentage increased from a year ago and the net worth of the companies showed a slight increase, as well.
“As dealers we need to know what we need to be doing today to be successful and figure out what our action plan is to achieve our goals,” says Ron Birkey, chairman of Birkey’s Farm Stores.
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.
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