Having the right dealer management tools in place can help you stay competitive in this ever-changing market. When dealing with new regulations that highly impact business operations (such as lease terms, maintenance provisions, and the frequency of required audits), acquiring or improving your business management system becomes paramount to success. Dealerships should use these tools… Read more »
In their new book, Budgeting for Profit and Cash, frequent Rental Show speakers Steve Abercrombie and Barbara Nuss, CPA write, “Many growing and profitable rental businesses have failed because there wasn’t enough cash to pay the bills”. Are you the exception? Luckily for us, Abercrombie and Nuss have provided some suggestions for managing growth that… Read more »
The day-to-day operations of receiving and shelving inventory are the lifeblood of successful dealerships. These operations are made up of a series of sequential tasks. Besides keeping things organized, managing these procedures well can create a seamless experience for both customers and employees. The key to managing sequential tasks is having a willingness to adapt… Read more »
It’s official–EMV chip cards have flooded the credit card industry. According to Visa, a whopping 97% of overall U.S payment volume in March 2018 was on EMV Cards.
Did you know researchers have concluded that warehouse professionals should expect to see a 76% increase in both the number of locations and expected volume over the next few years? Meanwhile, your day-to-day operations look identical to when you first started.
I love attending the annual Material Handling Equipment Dealers Association (MHEDA) convention because the speakers and breakout sessions are so relevant and productive. This year’s convention was no exception. Both Brian Beaulieu, a renowned economist, and Ken Gronbach, a demographer and human analytics researcher, were incredibly optimistic about the current and short-term economy and had some… Read more »
I was on the road earlier this month visiting dealers. As you probably already know, I love to visit our customers. On this trip, however, I had the opportunity to do some cold calls. I usually leave that to our sales team, but I just couldn’t pass a couple of them up while driving past… Read more »
Service work is a huge part of your dealership’s business and can be extremely profitable. Unfortunately, many dealers are faced with the difficult situation of having to deal with customers who can’t or won’t pay for services rendered.
Are you involved in the EDA and/or your equipment dealer association? Some dealer associations seem to be struggling with engagement. I wonder why is this. We’ve regularly attended at least 4 regional or national equipment dealer association events a year for the last twenty years, and think if you’re not participating it’s time to reconsider…. Read more »
I was on the road again last week, attending the United Equipment Dealers Association convention. Once again, this meeting provided a great opportunity to talk to existing customers and learn more about current industry trends. I gained insight on problems dealers are experiencing that we can address through our technology.