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February 2018

Volume: 56

Edition: 2

Dealership Operations

Table of Contents

Table of Contents

To the Point: Take Charge Where Charge Can Be Taken

By Mike Lessiter posted on February 10, 2018 | Posted in Best Practices, Dealership Marketing

The issue in your hands is a special themed edition on “Dealership Operations.” We hope you’ll find it a timely read in examining areas that you and your team can examine to improve your performance this year.
Read More

Dealership Operations Report

February 10, 2018 | Posted in Best Practices, Data & Forecasts, Operations & Finance

While manufacturers and industry analysts have noted in recent months that the farm equipment industry has entered a replacement cycle, equipment sales alone don’t tell the full story of a farm equipment dealership’s health and profitability. Expenses, inventory management, marketing and other aspects of the business all factor into a dealership’s success.
Read More

Dealer Operations Report

Rising Expenses are Eroding Dealer Profits

Declining equipment sales coupled with increasing expenses is keeping the pressure on dealers’ bottom line.

By Dave Kanicki posted on February 10, 2018 | Posted in Best Practices, Data & Forecasts, Operations & Finance

While the financial and operational performance of North American farm equipment dealers showed some improvement last year, several warning flags also popped up indicating ag machinery retailers need to sharpen their pencils and attention to finances.
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Dealer Operations Report

Used Farm Equipment Digital Marketing Proven Practices / Expert Techniques

Representatives from Tractor House, Iron Solutions, Fastline, Iron Connect, Machinery Pete and Auction Time provide case study examples of how technology is helping market used equipment in a digital world.

By Mike Wiles posted on January 2, 2018 | Posted in Best Practices, Used Equipment Remarketing, Dealership Marketing

Representatives from Tractor House, Iron Solutions, Fastline, Iron Connect, Machinery Pete and Auction Time provide case study examples of how technology is helping market used equipment in a digital world.
Read More

Dealer Operations Report

How Will 2017 U.S. Tax Reform Impact Your Dealership?

Curt Kleoppel and Eric Wareham of the Western Equipment Dealers Assn. provide details on what the Tax Cuts & Jobs Act means for farm equipment dealers in the U.S.

By Kim Schmidt posted on February 10, 2018 | Posted in Operations & Finance

In late December 2017, President Donald Trump signed the Tax Cuts & Jobs Act into law, marking the first significant tax reform in the U.S. since the Reagan administration in the 1980s.
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Looking Back on Titan’s 10 Years as a Public Company

CEO David Meyer reflects on how business has changed for Titan Machinery since going public and where the industry is headed.

By Dave Kanicki posted on February 10, 2018 | Posted in Operations & Finance, Dealer Succession

Today, Titan Machinery is North America’s largest farm equipment dealership group. In 2006, the group was selected as Farm Equipment’s Dealership of the Year. At that point, Titan owned and operated 29 dealer locations.
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AE50 Awards Highlight Ag Machinery Innovations

By Kayla Urban posted on February 10, 2018 | Posted in Product Innovations & Introductions

For 31 years, members of the American Society of Agricultural and Biological Engineers (ASABE) have recognized and honored the most innovative advancements in engineering in the areas of agriculture, food and biological systems with the AE50 Award. The products selected save producers time and reduce cost and labor, all while improving user safety.
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People & Profits

How to Create a Culture of Collaboration & Sharing

By George Russell posted on February 10, 2018 | Posted in Best Practices, Department Management

Last month, I challenged dealership leaders to make 2018 the year to invest in human capital. I listed three calls to action and some links to recent relevant articles.
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Ahead of the Curve

Sodium Battery Could Hasten Electric Vehicles

By Dan Crummett posted on February 10, 2018 | Posted in Product Innovations & Introductions, Manufacturer News

In the January issue of Farm Equipment we explored the variety of fuels and technology that will power farm equipment during the mid-21st Century and beyond. Electricity promises to be a major player, particularly as battery technology continues to evolve.
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Ask the Expert: 2013: A Paradigm Shift in the Ag Equipment Business

By Casey Seymour posted on February 10, 2018 | Posted in Used Equipment Remarketing

In 2013, the signs of a looming collapse were becoming clear. In Farm Equipment, Dr. Jim Weber had been writing a series titled “The Business of Selling.” An article from the series “Gathering Storm Clouds” was posted in July 2013. I am paraphrasing but, in the article, Dr. Weber talks about low return on sales, dealerships dependence on volume and market share payments. Because of the low returns, dealerships should have been failing in droves. But because of record high commodity prices, record low interest rates and record on-farm income, dealerships were able to spike margins with new and used wholegoods.
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Featured Articles

Featured Articles

Dealership Operations Report

February 10, 2018 | Posted in Best Practices, Data & Forecasts, Operations & Finance

While manufacturers and industry analysts have noted in recent months that the farm equipment industry has entered a replacement cycle, equipment sales alone don’t tell the full story of a farm equipment dealership’s health and profitability. Expenses, inventory management, marketing and other aspects of the business all factor into a dealership’s success.
Read More

Looking Back on Titan’s 10 Years as a Public Company

CEO David Meyer reflects on how business has changed for Titan Machinery since going public and where the industry is headed.

By Dave Kanicki posted on February 10, 2018 | Posted in Operations & Finance, Dealer Succession

Today, Titan Machinery is North America’s largest farm equipment dealership group. In 2006, the group was selected as Farm Equipment’s Dealership of the Year. At that point, Titan owned and operated 29 dealer locations.
Read More

To the Point: Take Charge Where Charge Can Be Taken

By Mike Lessiter posted on February 10, 2018 | Posted in Best Practices, Dealership Marketing

The issue in your hands is a special themed edition on “Dealership Operations.” We hope you’ll find it a timely read in examining areas that you and your team can examine to improve your performance this year.
Read More
Online Extras
Online Extras
Online Extras: February 2018 Issue

February 10, 2018

Web-exclusive content for this issue includes:

Additional details on the Cost of Doing Business Study and Webinar Replay

Additional details on the 2017 Tax Cut and Jobs Act and webinar

Latest podcast series — "How We Did It: Conversations with Ag Equipment's Entrepreneurs."

Additional in-depth coverage of the Titan Machinery Investor Day on Wall Street
Additional coverage of the AE50 Awards

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This month's digital sponsors:

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How We Did It Docuseries: Walker Manufacturing (part 2)

How We Did It Docuseries: Walker Manufacturing (part 2)

Watch the extended two-part video interview with Bob Walker in this episode of the “How We Did It” Docuseries.

Watch Part 1: https://youtu.be/kK9elxIPfRg
Full Docuseries: farm-equipment.com/innovators-docuseries

Events

Western Farm Show

Date: 02/24/23

Location: Kansas City, MO

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.

Top Directory Listings

Yetter Farm Equipment

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.

Montag Mfg

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

Machinery Scope

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.

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