A common misperception among dealers is that revenue and/or gross profit is the key to profitability. Many believe that their main focus should be on increased sales and deriving higher gross margins from those sales. We respectfully disagree. Read more to find out why.
Click to download the full article by George Russell How Top Performers Compare Their Performance in PDF format.
Farming and the farm equipment business are and always have been cyclical businesses. That’s sometimes easy to forget, especially coming off a few really good years like we are now. But the cycle will turn down and the only question is when. Read more to find out what the top farm equipment dealers are doing about this.
Click to download the full article by George Russell How Top Performing Dealers Prepare for a Down Turn in PDF format.
Rental is an interesting area to examine from a strategic point of view. Let’s look at rental growth in the last 20 years. In 1987, did you consciously make the decision to enter into the rental market? Consciously make the decision to commit a certain amount of funds to rental? Did you establish specific financial benchmarks for rental operations and continuously monitor progress against those goals to adapt, change, and improve? Or, did you get into the rental business as a reaction to certain factors?
What we’ve seen as a consulting firm is that most heavy equipment dealers are in rental not due to established strategic focus, but as a reaction to certain situational drivers.
Want to read more? Click to download the full article Financial Benchmarks to Drive Rental Profitabilityin PDF format.
Click Get the Most Profit From Your Dealership to read this artice in PDF format by George Keen, as featured in Power Retailer
This is an interesting article written by George Keen in 2008. Click Forklift Equipment Rental to download the Article in PDF format.