Farm Equipment
Special Report: Transitioning to the Next Generation of Dealers
www.farm-equipment.com/articles/10443-becoming-an-owner

Becoming an Owner

June 1, 2014

Last July, I purchased 25% of the company from a silent partner in the business. One of Case IH’s conditions is owners with a certain percentage of the company have to sign unlimited guarantees, something he didn’t want to do. He knew at some point this was the plan.

“Over time, I’ve gotten more involved in corporate level planning as opposed to just dealing with my specific dealership in terms of writing policies and helping direct the company. Part of that has to do with me being a little bit anal; it works for me to be writing policies and going through stuff like that. I’m very nit-picky. I love the business and I feel like that’s a way that I can contribute to the growth and stability of Young’s Equipment. A lot of the corporate tasks I’ve taken on are things we hadn’t done before. At the same time, we take a very collective approach to working on some of these things. While I’m involved in doing these things, there are a lot of other people who are involved as well.

Kim 3

Kim Schmidt

Kim Schmidt is the Executive Editor of Farm Equipment and the host of Ag Equipment Intelligence’s On The Record. An award-winning writer, she worked 7 years in business-to-business trade media before joining Lessiter Media in 2012. She is a journalism graduate of Marquette University.

Contact: kschmidt@lessitermedia.com