July/August 2015

Table of Contents

Table of Contents

To The Point: No Backseat for Ag Dealers

By Dave Kanicki posted on July 16, 2015 | Posted in Operations & Finance

In the last issue of Farm Equipment, we featured an in-depth special report on “Cost of Doing Business” (CODB). Based on the data compiled over the years by various dealer associations, our coverage addressed how to use the industry benchmarks established by the annual dealer survey as well as the progress, or lack thereof, the industry has seen in the past 4 decades.

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New Equipment Inventories Showing Improvement

July 16, 2015 | Posted in Data & Forecasts

The most recent figures released by the Assn. of Equipment Manufacturers indicates that North American inventories of new tractors and combines are improving vs. a year earlier. This may come as little comfort to 40% of dealers who say they still have “too much” new equipment on their lots.

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Dealership of the Year 2015: Industry’s Best Dealerships Honored in 11th Annual Awards Program

Ritchie Implement and Salem Farm Supply earned the industry’s top honors as Farm Equipment’s 2015 Dealership of the Year.

July 16, 2015 | Posted in Best Practices, Dealer News

The independent judging panel once again had an impressive pool of candidates to choose from for this year’s Dealership of the Year honorees. But, they made their choices and Farm Equipment’s 2015 Dealerships of the Year are: Ritchie Implement, a 3-store group based in Cobb, Wis., in the over $75 million in revenues category; and Salem Farm Supply, a single-store dealer located in Salem, N.Y., in the under $75 million in revenues category.
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Dealership of the Year 2015: Ritchie Implement Inc. Cobb, Wis.

Category: Over $75 Million in Revenues

By Jaime Elftman posted on July 16, 2015 | Posted in Best Practices, Operations & Finance

Diversity is key for Ritchie Implement, the 2015 recipient of the over $75 million in revenues category of the Dealership of the Year program. Ritchie Implement’s commitment to a variety of product lines, a broad customer base and the addition of third generation management have made the dealer a success. “We don’t keep all our eggs in one basket,” says CEO and Co-owner Ron Ritchie.

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Dealership of the Year 2015: Salem Farm Supply Inc. Salem, N.Y.

Category: Under $75 Million in Revenues

By Kim Schmidt posted on July 16, 2015 | Posted in Best Practices, Operations & Finance, Dealer Succession

Carole Lewis, president of Salem Farm Supply, didn’t plan on making her living as a farm equipment dealer, but life had different plans for her. Her father, Philip Lewis, purchased Salem Farm Supply in 1988 from the original owner. Philip was an investment banker from New York City who had moved to the area intending to buy a business. One day, he came in to Salem Farm Supply looking to buy a tractor, and he ended up buying the dealership, Lewis says.
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Swath Width vs. Mower Type

For top quality hay, which offers the biggest benefits for producers?

By Dan Crummett posted on July 16, 2015 | Posted in Niche Equipment Markets

There may not be a consensus when it comes to the best type of mower to use in harvesting hay. But increasingly the one practice researchers agree on is wide swathing as the best way for producers to ensure the high nutritive value of their hay.
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Farm Equipment Dealers Land on Capitol Hill

During the NAEDA Legislative Fly-In, dealers met with Congressional representatives to stress the importance of how policy impacts their businesses.

By Kim Schmidt posted on July 16, 2015 | Posted in Manufacturer & Dealer Issues

Farm Equipment dealers from across the U.S. and from all colors, converged in Washington, D.C., May 20-21 for the 12th Annual North American Equipment Dealers Assn. Legislative Fly-In.

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Farm Material Handling Equipment Provides Farmers Flexibility

A wide variety of attachments give skid loaders and telehandlers the versatility farmers are looking for.

By Jen Bradley posted on July 16, 2015 | Posted in Niche Equipment Markets

From skid loaders to telescopic handlers, farm material handling equipment has become a common sight on many farms today. The main selling point, dealers say, is this equipment’s flexibility and ability to multi-task. With a skid loader, for example, a simple change of attachment and a sweeper becomes a snowplow or wood splitter.
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Canada’s Farm Progress Show Highlights Product Innovations

By Alan Stenum posted on July 16, 2015 | Posted in Product Innovations & Introductions

Once again, farmers, farm equipment dealers and agribusiness professionals gathered in Regina, Sask., for Canada’s Farm Progress Show, June 17-19. This year marked the 38th year for the farm exposition. With nearly 2 million square feet of exhibit space, the show featured 720 exhibitors and attracted 41,897 attendees from around the world.

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Industry Q&A: Dealer Management System Impact on Productivity

July 16, 2015 | Posted in Best Practices

How has your dealer management system helped increase productivity in the last 5 years?
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People and Profits: Professional Development: How to Be a Better Coach: Part 2 of 2

Discover how active coaching can be a vehicle that drives performance and accountability in your dealership.

By George Russell and Erik Thompson posted on July 16, 2015 | Posted in Department Management

In Part 1 of this two-part article, we discussed the purpose of coaching, how effective coaching strengthens accountability and how asking “coaching questions” challenges people to own and expand their capacity.

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Ahead of the Curve: Choices Emerging for Narrow-Row Corn Harvest

By Dan Crummett posted on July 16, 2015 | Posted in Product Innovations & Introductions

For Lincoln Hughes, the move to narrow-row corn began during the drought of 2011 when parched yields on his farm near Nevada, Mo., were yielding 5 bushels per acre.

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Business of Selling: Call Reluctance and Slumping Sales

By Dr. Jim Weber posted on July 16, 2015 | Posted in Best Practices, Department Management

After a succession of years where equipment sales continued to increase, not because of dealership marketing efforts or sales force contacts, but rather because of increasing commodity prices and end-user ebullience, many dealership sales forces now find themselves in a sales funk. Regular updates by Farm Equipment continue to provide evidence of declining sales — actual and forecasted — as quarterly results are released by leading manufacturers.

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Featured Articles

Featured Articles

Dealership of the Year 2015: Salem Farm Supply Inc. Salem, N.Y.

Category: Under $75 Million in Revenues

By Kim Schmidt posted on July 16, 2015 | Posted in Best Practices, Operations & Finance, Dealer Succession

Carole Lewis, president of Salem Farm Supply, didn’t plan on making her living as a farm equipment dealer, but life had different plans for her. Her father, Philip Lewis, purchased Salem Farm Supply in 1988 from the original owner. Philip was an investment banker from New York City who had moved to the area intending to buy a business. One day, he came in to Salem Farm Supply looking to buy a tractor, and he ended up buying the dealership, Lewis says.
Read More

Dealership of the Year 2015: Industry’s Best Dealerships Honored in 11th Annual Awards Program

Ritchie Implement and Salem Farm Supply earned the industry’s top honors as Farm Equipment’s 2015 Dealership of the Year.

July 16, 2015 | Posted in Best Practices, Dealer News

The independent judging panel once again had an impressive pool of candidates to choose from for this year’s Dealership of the Year honorees. But, they made their choices and Farm Equipment’s 2015 Dealerships of the Year are: Ritchie Implement, a 3-store group based in Cobb, Wis., in the over $75 million in revenues category; and Salem Farm Supply, a single-store dealer located in Salem, N.Y., in the under $75 million in revenues category.
Read More

Dealership of the Year 2015: Ritchie Implement Inc. Cobb, Wis.

Category: Over $75 Million in Revenues

By Jaime Elftman posted on July 16, 2015 | Posted in Best Practices, Operations & Finance

Diversity is key for Ritchie Implement, the 2015 recipient of the over $75 million in revenues category of the Dealership of the Year program. Ritchie Implement’s commitment to a variety of product lines, a broad customer base and the addition of third generation management have made the dealer a success. “We don’t keep all our eggs in one basket,” says CEO and Co-owner Ron Ritchie.

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Online Extras
Online Extras
Online Extras: July/August 2015 Issue

July 1, 2015

Web-exclusive content for this issue includes:

2015 Dealership of the Year video series

Ritchie Implement Web Exclusive Content

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