Dealer Succession

The ins and outs of transferring ownership and management to the next generation.

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Industry Consolidation Part 3

What’s Driving Consolidation Among Farm Equipment Dealers?

Farmer consolidation and growing capital requirements for dealers has contributed to the need for dealerships to expand and grow.
All aspects of the ag industry have been consolidating over the last several years, and it seems to have picked up recently. This is no different for farm equipment dealerships. Some of the consolidation is being led by the major equipment manufacturers, some of it is in response to farm consolidation (see “Farms Shrinking in Number, Growing in Size,” page 12), and still some is due to dealer owners exiting the industry.
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Dig Down to Find Your Grit ... Part 1

Interviews with ag equipment entrepreneurs stoked a fire to deep dive on “grit.” Mike Lessiter studies Dr. Angela Duckworth’s analysis and shares of takeaways in part 1 of this series.
Why is grit important? Because the struggle tells you more about yourself than any easily-found success, and it keeps in perspective that the “burn” of the journey is as important as the finish line.
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Conversations in Ag

Color-to-Color Competition in Same Town

In mid-April, Chris Frodel, Mid-State Equipment (John Deere) drove over from her store to meet in the conference room at Johnson Tractor (Case IH), Leo Johnson’s store. The length of Frodel’s drive on Highway 14 was a full 4 minutes. That’s how close these two dealerships are in the rich agricultural region of Janesville, Wis. Both are second-generation dealers with siblings as partners (Chris runs the business with her brother Bryan and father Curt Hanson, while Leo does the same with brother Eric) and steadily collected additional stores from small-operation origins. Frodel (44) and Johnson (62) also found a lot of similarities and values in their businesses as they dug in for a candid discussion and what the future may look like.
In mid-April, Chris Frodel, Mid-State Equipment (John Deere) drove over from her store to meet in the conference room at Johnson Tractor (Case IH), Leo Johnson’s store. The length of Frodel’s drive on Highway 14 was a full 4 minutes. That’s how close these two dealerships are in the rich agricultural region of Janesville, Wis.
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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.
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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[Video] 7 Questions with Titan Machinery Chairman & CEO David Meyer

On Dec. 12, 2017, Titan Machinery marked the 10th anniversary of becoming a public company by hosting an Investors Day meeting at the NASDAQ headquarters in New York, N.Y. Following the meeting Farm Equipment Executive Editor Dave Kanicki had the opportunity to interview Titan’s Chairman & CEO David Meyer.
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