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 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 […]
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 […]
Tuesday, May 6, 2014
Every dealership will be transferred. We can all agree on that since it is based on the same logic as the statement that every person will eventually die. But even though conventional wisdom says that you and I should develop a plan for what happens when we die, dealers don’t always take the same approach […]
Tuesday, April 15, 2014
Turning profits into loss? Why would I do that? No dealer is in business to lose money. But what if the types of products and services you sell lead to a situation where losses from one bad transaction wipe out profits on 100+ customer transactions? The world in which you operate is rapidly changing. Are […]