Dealer Succession

The Next Generation

Dealers Need a Paradigm Shift to Meet Today’s ‘Leadership’ Needs

Communication and people skills far outweigh technical and product competency when it comes to selecting top managers today.

The retail side of the farm equipment business will need to undergo a significant transition on how it has traditionally viewed the skillset required to manage a dealership. The rapid consolidation of dealerships has already forced a paradigm shift from a “manager” model to a “leader” model with the biggest dealer groups. But that transformation will also need to take place with the smaller dealer groups — those in the 1-5 store category — if they hope to profitably compete in this increasingly demanding business.


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The Next Generation

Intergenerational Dealerships: The Anatomy of Transition

Succession planning has a reputation for being a battlefield, but it doesn’t have to be. These families share their recipes for a successful succession.

For farm equipment dealer-principals, succession planning is more than merely passing a torch — it’s a complex logistical relay. For those resolving to keep their business in the family, the process and the pitfalls can be even more complicated. After spending years cultivating a successful business, dealers want only the most capable hands to carry it on.


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The Next Generation

Exploring the Possibilities of Employee Stock Ownership Plans

Along with playing a role in establishing a succession plan, ESOPs offer a range of other benefits for dealer-principals and their employees.

Farm equipment dealers who are looking to establish a succession plan for their companies to ensure their dealerships remain viable business entities, whether or not they remain at the helm of the company, are taking a close look at the potential role that an Employee Stock Ownership Plan (ESOP) could play in the process.


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The Next Generation

Workshop: CapEx Drives Dealership Values

Covering an array of succession planning themes in their opening workshop, consultants Owen and Mast advocated capital reinvestment for immediate, and long-term, results.
Tom Owen and Nick Mast opened the Dealership Minds Summit with a 90-minute workshop on “Strategies for Capital Access & Transitional Wealth Management in Equipment Dealerships.”
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DMS
The Next Generation

Transition Planning Theme Draws Record Attendance

158 gather in Cincinnati for sold-out conference for dealer leaders in January.

With 19 presenters across a mix of general sessions and dealer-to-dealer panels, Farm Equipment’s 2015 Dealership Minds Summit in Cincinnati (at the historic Hilton Netherland Plaza), on January 13-14 attracted 158 industry officials — a new attendance threshold for the event.


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