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Planning for Profits

The Link Between Sales & Absorption

By George Keen and George Russell posted on October 5, 2011 | Posted in Operations & Finance
Whether it's from your manufacturer's demand for market share or machine population, or your need for more revenue, dealers continue to look for ways to boost sales. A good place to start selling more machinery is to look first at your parts and service departments. There is a strong link between sales coverage and better parts and service profitability - meaning better absorption.
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George Russell
Planning for Profits

Why Use a Financial Model?

By George Keen and George Russell posted on July 18, 2011
Using a financial model and not just a budget is important to achieving consistent profitability. To show the difference between the two, let’s consider a real world situation for a dealership.
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George Russell
Planning for Profits

Benchmark Your Service Personnel Costs

By George Keen and George Russell posted on March 10, 2011
The single biggest personnel cost in a farm equipment dealership is in the service department. Of course, most dealerships will have more personnel in service than other departments. But if this cost is more than 20% of your service revenues, you need to closely examine it to determine if some things are out of line.
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Planning for Profits

Benchmark Your Service Personnel Costs

By George Keen and George Russell posted on March 10, 2011 | Posted in Best Practices
The single biggest personnel cost in a farm equipment dealership is in the service department. Of course, most dealerships will have more personnel in service than other departments. But if this cost is more than 20% of your service revenues, you need to closely examine it to determine if some things are out of line.
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