Rental Financial Management Metrics - Fleet Apportionment

by Betsy Chase

So far in this series on Financial Management for Rental we have covered Time Utilizationwhich tracks units over time to help you monitor trends and compare fleet efficiency during different time periods, and Financial Utilization, which...

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Filed under: Best Practice, Financial Management, Rental

Rental Measurements to Live By - Time Utilization

by Betsy Chase

Last week we shared and discussed one of two different types of Rental Utilization KPIs, Financial Utilization.  This time we are going to discuss Time Utilization.  By the end of this article you will not only know how to calculate both Rental...

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Filed under: Best Practice, Financial Management, Rental

Rental Measurements to Live By - Financial Utilization

by Betsy Chase

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...

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Filed under: Best Practice, Industry Insights, Financial Management, Rental

Make Your Parts Department Its Own Profit Center

by James Stoneham

Making the 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.

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Filed under: Best Practice, Financial Management

Open Book Management

by Anne Salemo

Charter Software has always had an open book policy. And with a business system like ASPEN, you can easily make your financials visible to key employees or, if you’d prefer, all employees. According to Forbes, companies who use this rule often...

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Filed under: Best Practice, Financial Management

5 Tips for Immediate Success After an Acquisition

by Anne Salemo

Mergers, acquisitions, and an additional location. All of these factors come together to form a potentially chaotic situation. Although well intentioned, many business owners let profits slip through the cracks during this tumultuous time.

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Filed under: Change Management, Best Practice, Financial Management

Fail to prepare, Prepare to fail

by Anne Salemo

Planning should be based on facts, not guesswork. Knowing how to properly take stock of important data can unlock future opportunities, establish clear goals, and help make decisions. We’ve put together this ten point assessment that you can...

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Filed under: Business Management System, Best Practice, Financial Management

Prevent Increasing Expenses Due to Shrinking  Profits

by Tracy Goodman

“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 ...

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Filed under: Best Practice, Financial Management

Making a List and Checking it Twice:

by Melissa Amen

Ten Actions to Prepare for a Healthy New Year

Garry Bartecki, financial advisor to the equipment industry and founder of Dealer-Rental Success LLC, shared with dealers his go-to assessment checklist of assets, people and data to take the...

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Filed under: Business Management System, Best Practice, Financial Management

How to Plan for Succession

by Anne Salemo

In a recent study published by Farm-Equipment.com, it would appear that more and more dealer-principals are retiring in the next 5 years. This figure aligns with data that suggests 75% of people holding this job title are ages 51 and over. If you...

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Filed under: Industry Insights, Financial Management

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