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February 2021

Volume: 59
Edition: 2

Dealer Business Operations Report

Cost of doing business study: Dealers Financials Holding Steady

  • Table of Contents

    Table of Contents

    Kim Schmidt
    To the Point

    Building Your Bench

    By Kim Schmidt posted on January 25, 2021 | Posted in Best Practices
    If one of your department managers was promoted — or even left the dealership —  do you know who would replace them? Do you have employees who you’ve mentored and trained who are prepared to move into management roles?
    Read More
    Cost of Doing Business

    Dealer Financials Holding Steady

    Dealers responding to the latest Cost of Doing Business survey reported improvements in their aftermarket business, but struggled to improve their profits and revenues.
    By Ben Thorpe posted on January 25, 2021 | Posted in Data & Forecasts, Operations & Finance
    According to the results of the 2020 Cost of Doing Business study from the Western Equipment Dealers Assn., dealers are doing well according to several key financial metrics, including increased aftermarket gross margins and increased revenue per employee.
    Read More
    Stacy-Anthony.jpg
    Executive Q&A

    Catching Up with Stacy Anthony

    As AGCO dealership AgRevolution officially begins business, CEO Stacy Anthony shares his goals and expectations for the first year of business.
    By Kim Schmidt posted on January 26, 2021 | Posted in Best Practices, Operations & Finance
    In October 2020, AGCO announced it was acquiring the ag assets of Cat dealer Boyd Co. and establishing a new dealership — AgRevolution — to serve the ag community in Kentucky and southern Indiana.
    Read More
    rural market optimism
    2021 Rural Lifestyle Dealer Business Trends & Outlook

    Rural Lifestyle Dealers’ Optimism Remains Strong

    Annual survey shows continued optimism from rural equipment dealers heading into 2021, despite some lingering concerns over end-user demand and inventory availability.
    By Gregg Wartgow posted on January 27, 2021 | Posted in Data & Forecasts
    Rural equipment dealer confidence had been soaring for 2 years. Then 2020 happened — a year like most had never experienced. Uneven demand. Uncertain supply chains. Rising costs.
    Read More
    Retail Strategies

    Is Your Dealership e-Commerce Ready?

    Two experts share their advice on retail strategies that will help prepare dealers for a move toward more online business activity.
    By Kim Schmidt posted on January 27, 2021 | Posted in Best Practices
    Retail best practices have moved beyond a clean, organized and inviting showroom. Consumers have been shopping online for over a decade now, and the COVID-19 pandemic pushed e-commerce to the forefront.
    Read More
    Casey_Seymour.png
    Ask the Expert

    Here’s to New Beginnings

    By Casey Seymour posted on January 29, 2021 | Posted in Used Equipment Remarketing
    If I have heard this joke once, I have heard it a thousand times. “The best thing about 2020 is that it over!” 2020 was a year filled with challenges — everything from a pandemic to someone paying you to take their oil, literally.
    Read More
    Kinze-4905-16-Row-True-Speed-Planter_0720.jpg
    Product Preview

    Kinze 4905 16- and 24-Row True Speed Planters

    By Ben Thorpe posted on February 2, 2021
    The Kinze 4905 True Speed Planter is the next generation of Kinze’s 4900 model. Its True Speed system consists of a high-speed electric meter and seed delivery tube enabling corn and soybean farmers to plant at speeds up to 12 mph.
    Read More
    Concord-Disc-Drill-HD_1220-copy.jpg
    Product Preview

    Concord Disc Drill HD

    By Ben Thorpe posted on February 2, 2021
    The Concord Disc Drill HD is a married combination of Concord’s single disc drill and AGCO’s double-disc Heads-Up Openers. It features 24 inches of toolbar travel plus 16 inches of opener travel. The Disc Drill HD replaces Concord’s previous double disc drill in its equipment lineup and is capable of up to 7 mph seeding speeds.
    Read More
  • Featured Articles

    Featured Articles

    Cost of Doing Business

    Dealer Financials Holding Steady

    Dealers responding to the latest Cost of Doing Business survey reported improvements in their aftermarket business, but struggled to improve their profits and revenues.
    By Ben Thorpe posted on January 25, 2021 | Posted in Data & Forecasts, Operations & Finance
    According to the results of the 2020 Cost of Doing Business study from the Western Equipment Dealers Assn., dealers are doing well according to several key financial metrics, including increased aftermarket gross margins and increased revenue per employee.
    Read More
    Stacy-Anthony.jpg
    Executive Q&A

    Catching Up with Stacy Anthony

    As AGCO dealership AgRevolution officially begins business, CEO Stacy Anthony shares his goals and expectations for the first year of business.
    By Kim Schmidt posted on January 26, 2021 | Posted in Best Practices, Operations & Finance
    In October 2020, AGCO announced it was acquiring the ag assets of Cat dealer Boyd Co. and establishing a new dealership — AgRevolution — to serve the ag community in Kentucky and southern Indiana.
    Read More
    rural market optimism
    2021 Rural Lifestyle Dealer Business Trends & Outlook

    Rural Lifestyle Dealers’ Optimism Remains Strong

    Annual survey shows continued optimism from rural equipment dealers heading into 2021, despite some lingering concerns over end-user demand and inventory availability.
    By Gregg Wartgow posted on January 27, 2021 | Posted in Data & Forecasts
    Rural equipment dealer confidence had been soaring for 2 years. Then 2020 happened — a year like most had never experienced. Uneven demand. Uncertain supply chains. Rising costs.
    Read More
  • Digital Edition

    Digital Edition

  • Online Extras

    Online Extras

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Farm Equipment Videos

AGCO Aims for $2 Billion in Precision Ag Business by 2029

AGCO Aims for $2 Billion in Precision Ag Business by 2029

In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at AGCO’s plans for its precision business and its 2029 targets. In the Technology Corner, Noah Newman talks with Eis Implement’s precision team. Also in this episode, the interest savings dealers could see with the latest rate cut by the Fed and a look at the used 100+ horsepower tractor market. 

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Top Directory Listings

Yetter Farm Equipment

Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
Machinery Scope

Machinery Scope

At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.
Machinery-Scope-Finance-Scope.png

Finance Scope

Finance Scope is able to provide the best financing opportunities for equipment dealers and customers through a diverse mix of lending companies under one single platform. Our large group of lenders, allows for competitive rates regardless of credit scores. Additionally, dealers and customers have access to the industry’s best expertise surrounding finance and lease structures, for all purposes, within the agricultural and construction industries. We provide all of this into one online platform to provide our customers with the best available tailored finance solution for their equipment.
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