Here it comes … the End of the Year!! If your year-end coincides with the end of the calendar year, it is time to get ready. If your year-end is at another time of the year, hang onto this info! Here are a few best accounting practices for dealerships that will show you what needs… Read more »
Last week at GIE + Expo, our CEO and President Anne Salemo and I attended a presentation given by Brian Beaulieu the CEO and Chief Economist of ITR Economics entitled “More Growth – More People – More Business”. Since his talk was much anticipated by the attendees we spoke with, we wanted to share some… Read more »
Flat Rates offer your dealership the opportunity to increase dealership profit and customer satisfaction. By pricing by the job instead of the number of hours, you can account for the different levels of experience among your service technicians and provide customers with an up-front price they can agree to. What is a Flat Rate? A Flat Rate is… Read more »
So far in this series on Financial Management for Rental we have covered Time Utilization, which tracks units over time to help you monitor trends and compare fleet efficiency during different time periods, and Financial Utilization, which focuses on true amount of revenue each unit earns on an annualized basis. Now that you understand these two metrics and how they… Read more »
If you’re in the equipment rental business, you know business is on the upswing. Industry revenues in the US are growing three times faster than the general economy over the past few years according to the American Rental Association (ARA). This kind of market opportunity also comes with increased competition. That’s why smart business owners… Read more »
Making your dealership parts department more profitable is one of a dealership’s top challenges. Using a reliable dealership management system such as Charter Software’s ASPEN can greatly assist you in achieving your parts department’s maximum potential. The dealership parts department is a major part of your dealership’s “bottom line” profitability, so to ensure total support… Read more »
Boost profits this season by taking a good look at how your technicians spend their time and use that data to inform your dealer management process! Gauge the Amount of Precious Dollars Lost on Daily Tasks A minimum of 90% of a technician’s day should be billable hours, so any non-revenue generating task they perform… Read more »
It’s been almost two years since the US equipment boom that gifted many farmers with impressive deals on late-model equipment. Now it seems the well has run dry. As demands continue to exceed supply, the costs of selling and renting used equipment has continued to increase, and new AG dealer software can help them track… Read more »
“While it’s clear that North American farm equipment dealers have work to do to shore up profits, much of which needs to focus on the expense side, they have improved some areas of their operation. The most noticeable is the reduction in whole goods inventories.” – Farm-Equipment.com One of the most concerning results of a recent… Read more »
We all make New Year resolutions in our personal lives, do leaders need to make resolutions for their professional life? Being a leader should not necessarily entail resolutions, but rather establishing goals. Resolutions are typically lists loaded with specifics that quickly fall off the radar. This year, consider creating plans filled with concepts that will… Read more »