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Selling a Dealership Requires Due Diligence but Can Pay Off in a Big Way

Don’t shy away from selling, despite fears about the post-Covid sales picture; according to Rex Collins, now is a great time to take that first step.

By Libby Wawzenek posted on August 29, 2021 | Posted in Best Practices

Despite the ups, downs and uncertainties of the past year, Rex Collins says many equipment dealerships are more profitable than ever.

[Podcast] Customizing a Succession Plan for Your Dealership

In this episode of the Rural Lifestyle Dealer podcast, brought to you by Yanmar, we talk with Rex Collins, a principle at HBK CPAs & Consultants, to tackle the subject of succession planning.

November 20, 2018 | Posted in Best Practices

In this episode of the Rural Lifestyle Dealer podcast, brought to you by Yanmar, we talk with Rex Collins, a principle at HBK CPAs & Consultants, to tackle the subject of succession planning.

Succession Planning Step 10: Monitor & Adjust the Plan

By Rex A. Collins posted on August 31, 2018 | Posted in Best Practices

Succession planning is a dynamic process that needs adjusting based on the dealer’s changing goals and life circumstances.

Succession Planning Step 8: Develop an Implementation Strategy

By Rex A. Collins posted on August 17, 2018 | Posted in Best Practices

The importance of a team coordinator cannot be over emphasized, one who is experienced in the dealership industry and succession planning and is a trusted advisor to the owner.

Succession Planning Step-by-Step: Part 2

In Part 2, we examine integrating estate plans, designing a contingency plan and adjusting.

By Rex A. Collins posted on April 21, 2018 | Posted in Best Practices

When is the best time to develop a succession plan? Ten years before you want to exit the business. However, it is never too late to start planning your exit from daily decisions or from the business altogether, while preserving your legacy.

Becoming a High Performing Dealer by Achieving Benchmarks

By Rex A. Collins posted on April 2, 2018 | Posted in Data & Forecasts

Spotting significant differences between your dealership’s performance and that of comparable dealers can be the first step to improving your profitability.

Succession Planning Step-by-Step: Part 1

Ensure the future of your dealership with this sound process for choosing new leaders, funding the transition and ensuring a rewarding retirement for yourself.

By Rex A. Collins posted on January 27, 2018 | Posted in Best Practices

A sound dealership succession plan addresses a long list of issues, including retirement income, transferring wealth to the dealer’s heirs, transferring ownership, dealing with the income and estate tax consequences associated with an ownership transfer, and addressing other issues key to the ongoing success of the business; not the least of which (and often forgotten) is transitioning management.

Fix My Problem

Setting Your Advertising Budget

December 22, 2017 | Posted in Best Practices

Two Rural Lifestyle Dealer experts answer a reader's question about how to determine an advertising budget.

The Search for Hidden Cash in Dealerships

By Kayla Urban posted on December 7, 2017 | Posted in Best Practices

Uncover hidden cash and build profits in your dealership by understanding cash management and the benchmarks you should be striving to reach, says Rex Collins, a principal of HBK CPAs & Consultants.

Fix My Problem

Dealer's Challenge: ‘Virtually Impossible’ to Find, Keep Help

By Rex A. Collins posted on September 20, 2017 | Posted in Best Practices

Rex Collins of HBK Consultants & Associates addresses offers his advice in RLD’s “Fix My Problem” series, including making your dealership be the one place where every technician in the area wants to work.

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AEM Highlights Pro-Manufacturing Policy Initiatives

For its part, the editorial team at Lessiter Media, reporting on behalf of Farm Equipment, Rural Lifestyle Dealer, Ag Equipment Intelligence and Precision Lifestyle Dealer, joined the AEM Manufacturing Express at two of its stops, including Woods Equipment in Oregon, IL and Kuhn in Brodhead, Wisc.

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Yanmar

Yanmar America is the North American headquarters of Yanmar Holdings. Ranked #1 in Product Quality for five years in a row by the Equipment Dealers Association, Yanmar provides innovative solutions for Rural Lifestyle and Industrial Equipment customers.

Yanmar was the world’s first manufacturer to develop a practical small diesel engine in 1933 and has continued to push the boundaries of innovation and technology ever since. As a manufacturer of diesel engines, compact tractors and utility task vehicles, construction machinery, and industrial equipment, Yanmar's products are sold in over 130 countries.

At Yanmar America, we are committed to providing our customers with the highest quality products and services, backed by a strong team of professionals who share our dedication to excellence. We look forward to the opportunity to work with you in achieving your goals.

Stihl Inc

Virginia Beach-based STIHL Inc., produces a full line of high-quality, handheld outdoor power equipment including blowers, trimmers, brushcutters, and multi-task tools, as well as the number one selling brand of chainsaws worldwide. STIHL Inc. manufactures over 260 model variations of handheld outdoor power equipment for sale in the U.S. and around the world.