For the 2023 Farm Equipment Dealerships of the Year (DOY), the judges chose Kentucky-based Hutson Inc. in the over-$100 million revenue category and Noble Equipment of Alberta, Canada in the under-$100 million revenue category. The recipients competed against a field of 96 North American dealers nominated by dealers, employees, customers, DOY alumni and equipment suppliers. More importantly, they join an exclusive list of 34 previous DOY recipients — the Dealership of the Year Alumni Group.
Dealership of the Year Alumni Group
On average and based on data at the time of the award, this group represents revenues of almost $157 million, ROA of 17.8%, market share of 51% and parts & service absorption of 87.7%. Revenues reported by all recipients total more than $5.6 billion.
2023 Hutson Inc., Murray, Ky. Noble Equipment, Nobleford, Alta.
2022 First Choice Farm and Lawn, Union City, Tenn. Reichmann Bros., Okawville, Ill.
2021 Sydenstricker Nobbe Partners, Mexico, Mo.
2020 AgriVision Equipment, Pacific Junction, Iowa
2019 Hiawatha Implement, Hiawatha, Kan. Ag World & Ag Authority, Kinistino, Sask.
2018 Reynolds Farm Equipment, Atlanta, Ind. Greenland Equipment, Carman, Man.
2017 Valley Truck & Tractor, Yuba City, Calif. Ellen’s Equipment, McBain, Mich.
2016 Van Wall Equipment, Perry, Iowa
2015 Ritchie Implement Inc., Cobb, Wis. Salem Farm Supply, Salem, N.Y.
2014 PrarieLand Partners, Hutchinson, Kan. Godfrey Bros, Jonesville, Mich.
2013 Stotz Equipment, Avondale, Ariz. Lake County International, Madison, S.D.
2012 Johnson Tractor, Janesville, Wis. Kennedy Implement, Philip, S.D.
2011 JayDee AgTech, Swift Current, Sask. Janson Equipment, Reese, Mich.
2010 RDO Equipment, Northern Agriculture, Fargo, N.D. Codington-Clark Equipment, Watertown, S.D.
2009 Young’s Equipment, Regina, Sask. Bonneville and Madison County Implement, Idaho Falls, Idaho
2008 Miller Farm Equipment, Moosomin, Sask. Vincennes Tractor, Vincennes, Ind.
2007 Birkey’s Farm Store, Rantoul, Ill. Scott Supply Co., Mitchell, S.D. Record Harvest, Nevada, Mo.
2006 Champlain Valley Equipment, Middlebury, Vt. Titan Machinery, Fargo, N.D.
2005 Fred Haar Co., Freeman, S.D. Jamestown Implement Co., Jamestown, N.D.
By the Numbers
Combined, Hutson and Noble accounted for nearly $1.15 billion in total revenue, with combined revenue per employee coming in at more than $1.2 million. Together, they also produced an average parts and service absorption rate of 87.2% for the year. The average return on assets for these 2 dealers was 18.75%.
As for Hutson specifically, the company is the first DOY recipient to achieve $1 billion in revenue in the same year it received the award. The company produced a ROA of 22.1% — among the highest of any DOY recipient. It achieved an absorption rate of 90.4% and 67% market share.
Best-in-Class Dealerships
In addition to the Dealership of the Year recipients, Farm Equipment also recognized 3 dealerships as being “best-in-class.”
In the over-$100 million revenue category, the recipient is WC Tractor, with 11 locations throughout Texas and 210 employees. The company reported revenues in excess of $144 million and a ROA of 15.1%. WC Tractor’s market share came in at 55%, and its parts and service absorption rate was 49%.
In the under-$100 million revenue category, Farm Equipment recognizes Churchill Equipment Co. of Manhattan, Mont., and Parish Tractor, with its 4 locations in Mississippi and Alabama. With only 1 location and 25 employees, Churchill still managed more than $20 million in revenue and a ROA of 11.20%. It had an absorption rate of 82%.
Parish Tractor has 145 employees and $95 million in revenue, with a ROA of 21%, market share of 35% and absorption rate of 59%.
Noble Equipment had revenues of over $70 million, a ROA of 15.4%, an 84% absorption rate and 24% market share in 2022. It is also unique in that it is a shortline-only dealership — the first one to be named Dealership of the Year. Noble also has the distinction of being one of only 6 Canadian dealerships to earn the honor.
Dealership of the Year: A 19-Year Tradition
Farm Equipment’s Dealership of the Year program began in 2005 “to elevate farm equipment dealerships that are leading in best practices, operations management and customer care.”
Since then, 36 dealerships from the U.S. and Canada have been recognized.
They are joined by 52 dealers who have been identified as Best-in-Class Dealerships.
Together, these dealerships make up Farm Equipment’s Dealership of the Year Alumni Group and are instrumental in nominating their fellow dealers for recognition. To see the full list and coverage of the Dealership of the Year Alumni Group, visit farm-equipment.com/dealership-of-the-year-archive.
This year’s judges included Mark Foster, retired dealer executive, and Gord Thompson, consultant and former dealer.
The 2024 Dealership of the Year program will be a unique milestone — its 20th anniversary. Look for an even more special report next year as Farm Equipment not only unveils the 2024 recipients but looks back on two decades of ag equipment dealer excellence.
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