In the last issue of Farm Equipment, we featured an in-depth special report on “Cost of Doing Business” (CODB). Based on the data compiled over the years by various dealer associations, our coverage addressed how to use the industry benchmarks established by the annual dealer survey as well as the progress, or lack thereof, the industry has seen in the past 4 decades.
The most recent figures released by the Assn. of Equipment Manufacturers indicates that North American inventories of new tractors and combines are improving vs. a year earlier. This may come as little comfort to 40% of dealers who say they still have “too much” new equipment on their lots.
The independent judging panel once again had an impressive pool of candidates to choose from for this year’s Dealership of the Year honorees. But, they made their choices and Farm Equipment’s 2015 Dealerships of the Year are: Ritchie Implement, a 3-store group based in Cobb, Wis., in the over $75 million in revenues category; and Salem Farm Supply, a single-store dealer located in Salem, N.Y., in the under $75 million in revenues category.
Diversity is key for Ritchie Implement, the 2015 recipient of the over $75 million in revenues category of the Dealership of the Year program. Ritchie Implement’s commitment to a variety of product lines, a broad customer base and the addition of third generation management have made the dealer a success. “We don’t keep all our eggs in one basket,” says CEO and Co-owner Ron Ritchie.
Carole Lewis, president of Salem Farm Supply, didn’t plan on making her living as a farm equipment dealer, but life had different plans for her. Her father, Philip Lewis, purchased Salem Farm Supply in 1988 from the original owner. Philip was an investment banker from New York City who had moved to the area intending to buy a business. One day, he came in to Salem Farm Supply looking to buy a tractor, and he ended up buying the dealership, Lewis says.
There may not be a consensus when it comes to the best type of mower to use in harvesting hay. But increasingly the one practice researchers agree on is wide swathing as the best way for producers to ensure the high nutritive value of their hay.
Farm Equipment dealers from across the U.S. and from all colors, converged in Washington, D.C., May 20-21 for the 12th Annual North American Equipment Dealers Assn. Legislative Fly-In.
From skid loaders to telescopic handlers, farm material handling equipment has become a common sight on many farms today. The main selling point, dealers say, is this equipment’s flexibility and ability to multi-task. With a skid loader, for example, a simple change of attachment and a sweeper becomes a snowplow or wood splitter.
Once again, farmers, farm equipment dealers and agribusiness professionals gathered in Regina, Sask., for Canada’s Farm Progress Show, June 17-19. This year marked the 38th year for the farm exposition. With nearly 2 million square feet of exhibit space, the show featured 720 exhibitors and attracted 41,897 attendees from around the world.
In Part 1 of this two-part article, we discussed the purpose of coaching, how effective coaching strengthens accountability and how asking “coaching questions” challenges people to own and expand their capacity.
For Lincoln Hughes, the move to narrow-row corn began during the drought of 2011 when parched yields on his farm near Nevada, Mo., were yielding 5 bushels per acre.
After a succession of years where equipment sales continued to increase, not because of dealership marketing efforts or sales force contacts, but rather because of increasing commodity prices and end-user ebullience, many dealership sales forces now find themselves in a sales funk. Regular updates by Farm Equipment continue to provide evidence of declining sales — actual and forecasted — as quarterly results are released by leading manufacturers.
Carole Lewis, president of Salem Farm Supply, didn’t plan on making her living as a farm equipment dealer, but life had different plans for her. Her father, Philip Lewis, purchased Salem Farm Supply in 1988 from the original owner. Philip was an investment banker from New York City who had moved to the area intending to buy a business. One day, he came in to Salem Farm Supply looking to buy a tractor, and he ended up buying the dealership, Lewis says.
The independent judging panel once again had an impressive pool of candidates to choose from for this year’s Dealership of the Year honorees. But, they made their choices and Farm Equipment’s 2015 Dealerships of the Year are: Ritchie Implement, a 3-store group based in Cobb, Wis., in the over $75 million in revenues category; and Salem Farm Supply, a single-store dealer located in Salem, N.Y., in the under $75 million in revenues category.
Diversity is key for Ritchie Implement, the 2015 recipient of the over $75 million in revenues category of the Dealership of the Year program. Ritchie Implement’s commitment to a variety of product lines, a broad customer base and the addition of third generation management have made the dealer a success. “We don’t keep all our eggs in one basket,” says CEO and Co-owner Ron Ritchie.
Several members of the Ritchie family live in close proximity to the Cobb, Wis., location, of Ritchie Implement. In this video, Tony Ritchie, sales and management with Ritchie Implement (3-store dealer in Wis.), talks about the benefits of living so close and the ability to provide excellent customer service.
Tony Ritchie, sales and management with Ritchie Implement (3-store dealer in Wis.), shares how the dealership prides itself in an excellent communication system.
Ron Ritchie, CEO and co-owner of Ritchie Implement (3-store dealer in Wis.), goes over some of the most important metrics that the dealership keeps in mind to stay on track.
Ron Ritchie, CEO and co-owner of Ritchie Implement (3-store dealer in Wis.), walks through the dealership's history and identifies the most important important moments that have defined the business it has become.
Kevin Depies, sales and management with Ritchie Implement (3-store dealer in Wis.), talks about the importance of keeping a sense of urgency up with employees to ensure the highest level of customer service among all of the locations.
Kevin Depies, sales and management with Ritchie Implement (3-store dealer in Wis.), talks about the Ritchie family's policy of welcoming all employees in like family.
Ron Ritchie, CEO and co-owner of Ritchie Implement (3-store dealer in Wis.), explains why managing cash flow is important in a modern-day farm equipment dealership.
Ron Ritchie, CEO and co-owner of Ritchie Implement (3-store dealer in Wis.), explains that rolling and preselling are not the same thing. There are important differences between these two processes.
As equipment continues to get more complex, it's almost impossible for a salesperson at an ag dealership to know everything about every product being sold. Kevin Depies, sales and management with Ritchie Implement (3-store dealer in Wis.), talks about the company's initiative to have specialization divided by product type.
Ron Ritchie, CEO and co-owner of Ritchie Implement (3-store dealer in Wis.), talks about the progression the dealership has taken to grow the product lines they offer. Each additional product line has brought in new customers that otherwise wouldn't have visited their dealership.
Kevin Depies, sales and management with Ritchie Implement (3-store dealer in Wis.), explains why they offer financing plans to customers. Your flexibility can make or break a sale.
Three-store, Case IH dealer Ritchie Implement of Cobb, Wis., takes pride in providing a high level of service for their customers. Kevin Depies, sales and management, says the dealership tries to treat its customers like partners.
Planning and preparing for the next generation of leadership is something many dealerships must consider in order to keep pushing forward into the future of the business. One roadblock many dealers cite is the need for the next generation to gain experience before taking on a management role within the dealership. This is necessary both for the success of the next generation and the dealership, but also to gain the respect of other employees.
Bill Martel, general manager of Salem Farm Supply (Salem, N.Y), and Carole Lewis, president of Salem Farm Supply, explains the dealership's compensation package for the sales team. The entire team has been salaried for a long time and they've found it encourages the team to work together to get the job done.
Bill Martel, general manager of Salem Farm Supply (Salem, N.Y), and Carole Lewis, president of Salem Farm Supply, talk about the top metrics they monitor on a regular basis to analyze the health of their business.
In 2012, Philip Lewis, the owner of Salem Farm Supply (Salem, N.Y), passed away. His daughter, Carole, had been working full time at the dealership for about a year. At the time of his passing, there wasn't a succession plan in place to dictate the future of the company. In this video, Carole, now president of Salem Farm Supply, shares the challenges they faced as they not only dealt with the loss of a loved one, but also had to work to resign manufacturer agreements with their suppliers.
Bill Martel, general manager of Salem Farm Supply (Salem, N.Y.), and Carole Lewis, president of Salem Farm Supply, talk about the importance of communicating with your manufacturer and getting approval on your succession plan.
Bill Martel, general manager of Salem Farm Supply (Salem, N.Y), and Carole Lewis, president of Salem Farm Supply, explains the challenges they face in getting in front of customers with marketing efforts in a remote geographical location.
Bill Martel, general manager of Salem Farm Supply (Salem, N.Y), and Carole Lewis, president of Salem Farm Supply, share ideas they've used as incentive programs for both the sales and parts departments. The incentive programs they've put in place have a variety of structures and timeframes.
Bill Martel, general manager of Salem Farm Supply (Salem, N.Y), and Carole Lewis, president of Salem Farm Supply, provide several tips for managing used equipment inventory.
The market for farm equipment in New York has been relatively strong in recent years. In this video, Carole Lewis, president of Salem Farm Supply (Salem, N.Y), and Bill Martel, general manager of Salem Farm Supply, talk about how they've taken advantage of the strong market.
Carole Lewis, president of Salem Farm Supply (Salem, N.Y), and Bill Martel, general manager of Salem Farm Supply, take a look into the future for Salem Farm Supply and where they'd like to see themselves.
Bill Martel, general manager of Salem Farm Supply (Salem, N.Y), and Carole Lewis, president of Salem Farm Supply, share what it means to them to be named Dealership of the Year.
Western Farm Show hosts live low-stress cattle demonstrations, seminars from top experts in the industry, health and safety screenings, hosts hundreds of FFA students, and honors Military and First Responders to complete the events taking place throughout the 3 days of the show.
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 Montag Mfg., we specialize in fertilizer equipment. Our complete fertilizer application system will help you start reaping the benefits of deep band fertilizer.
Machinery Scope offers premier risk management tools for farm equipment. We provide timely, personalized, and flexible solutions to protect more farm equipment investments than anyone in the industry. We add value and peace of mind when you are buying, selling, or managing your farm equipment by offering extended warranty plans.