Wednesday, October 8, 2014
Has anyone ever advised you to read the fine print in a contract before you sign it? While this advice is always sound, if you are like most people, you don’t typically follow this advice. The print on the back of the contract is small and usually difficult to understand. However, when it comes to […]
Tuesday, September 23, 2014
As owners or managers of a dealership, you deal with contracts every day – from the complicated financing agreement or IT services agreement to a simple purchase order. Even though all contracts have legal terms (many of you would say it is simply unreadable gibberish!), the tendency of most people that get these contracts when […]
Wednesday, September 10, 2014
Most dealers are well versed in the terms of express warranties that attach to product sales. These warranties are usually extended by a manufacturer and given to a customer with a new equipment purchase. There are also warranties that are implied by law that can arise in the sale of equipment, both new and used. […]
Tuesday, August 26, 2014
I have been fortunate to have the opportunity to speak to many of you at association conventions or dealer meetings. During those presentations, I try to update you on key legal issues impacting your dealerships. Although I hope that information is helpful, I want to also make the point that some of this information must […]
Tuesday, August 12, 2014
I think I can safely make the following three statements about most dealers that have been in business for the past 10, 15 or 20 years or more: The business model has changed and forced you to change priorities and learn new skills. The legal and regulatory environment in which you operate is more complicated. […]
Monday, August 4, 2014
The equipment dealer industry has seen significant consolidation over the last several years and the pace is not slowing as dealers and manufacturers are pursuing ever larger dealer organizations and the resulting benefits that can be achieved if growth is done in the right way. Unlike consolidation occurring within many industries, equipment dealerships often grow […]
Tuesday, July 15, 2014
Your dealership just completed a merger. You did everything by the book: took your time getting to know the other organization, set up a new organization, agreed to a fair value and established how the new ownership group would work together going forward. You will now be able to operate cohesively for years to come […]
Tuesday, July 1, 2014
Completing a dealer transfer is hard work and often compressed into a short amount of time. For those involved in a merger, you might think of it as planning for a wedding … a lot of work culminating in a single day in which your life significantly changes. But once the day is over, the […]
Wednesday, June 18, 2014
The moment has arrived. After many years of hard work and countless conversations with family and other owners, you made the decision … I’m going to sell my dealership. But now what? Making the decision to sell your dealership is often the hardest part of the transfer process. But once that decision is made, other […]
Tuesday, June 3, 2014
Most owners considering the sale or purchase of a business enter the process thinking there will be two parties at the table – buyer and seller. Unfortunately, for equipment dealers, the rights of manufacturers in dealer agreements mean that it usually takes three to tango. Like it or not, your dealership is tied to your […]