Proudly serving the industry for which it was named for more than 50 years, Outdoor Power Equipment provides dealers who sell and service outdoor power equipment with valuable information to succeed in a competitive market.
Issue link: http://read.dmtmag.com/i/739479
18 NOVEMBER 2016 OUTDOOR POWER EQUIPMENT www.outdoorpowerequipment.com COVER STORY industries. Schools are not guiding students toward the blue-collar trades. I am 61. I have no children to take over or employees that are interested in purchasing my business. I may not retire at 65; however, the business will be something that I can padlock for a few weeks and take some time off. BOB EAMES, OWNER ACE HARDWARE #3142 (RICHMOND, CALIF.) On a scale of 1 to 10, with 10 being the best, how has your dealership fared in 2016, and why? 7 Business has been steady, but my partner and I are in our late 60s and are planning to hang it up and retire. None of our employees and none of our kids have any interest in the business (Dad, I see how hard you work. I don't want to work that hard.), so we're starting to liquidate. What valuable lessons did you learn during 2016, and what do you plan to do differently in 2017? That I don't want to wait till I'm really old to retire. In 2017, I'm going to travel and relax. Fortunately, I'm in a good fi nancial condition and can do what I want. On a scale of 1 to 10, with 10 being the best, how optimistic are you about your dealership heading into 2017, and why? 1. The business will no longer exist, barring a last-minute offer. DAVID THOMPSON, CEO THOMPSON TRUE VALUE HARDWARE (MARSHALLTOWN, IOWA) On a scale of 1 to 10, with 10 being the best, how has your dealership fared in 2016, and why? 8 Started out with no winter, followed by a FANTASTIC spring and summer. No August slowdown for the shop because of timely rains. What valuable lessons did you learn during 2016, and what do you plan to do differently in 2017? The economy is crap because of Obama. Pray Killery doesn't get elected! On a scale of 1 to 10, with 10 being the best, how optimistic are you about your dealership heading into 2017, and why? Tell you after the election. CYNDI EBY, VICE PRESIDENT MOUNTAIN ENTERPRISES (DOVER, ARK.) On a scale of 1 to 10, with 10 being the best, how has your dealership fared in 2016, and why? 9 The products that we carry, as well as the reputation of our service department. You can have the best "marketing," but if you can't or don't back it up with an outstanding, effi cient, time-valued service center, as well as an intelligent and friendly counter staff, and a well-stocked parts department, you will eventually see the results. What valuable lessons did you learn during 2016, and what do you plan to do differently in 2017? An adequate plan for whole goods as well as parts stocking, and ensuring your inventory maintains adequate throughout the year is crucial. At times, we feel we may have too much stock, but you can't sell it, if you don't have it. Also, make sure you can decrease your inventory wisely when the high points of the selling season are nearing an end. I see several suppliers that have advanced their "stock" schedule in order to replenish their capital. Make sure you don't get caught up in all the offers they present. Make sure you keep an eye on your inventory and its age. One thing I haven't fi gured out yet, but think we all need to look at, is the area of online sales. It seems more and more parts warehouses are expanding their customer base to include anyone that operates a repair business. This is not supporting their local dealers, when the local dealers support them. Loyalty is a term that seems to be diminishing in our business. On a scale of 1 to 10, with 10 being the best, how optimistic are you about your dealership heading into 2017, and why? 9. We are always looking for ways to increase our visibility. It is our jobs as the principle to go out and increase our business, which gives our employees a feeling of stability. We can't wait for the customer to come to us; we have to go get them. We aren't afraid to go get them. We did see a change last year in our commercial customer base, especially for our winter products such as chain saws. The market is always changing, so we need to be always changing. One thing I think we all need to look at is the online sales. I see a trend of the parts suppliers expanding their customer base to pretty much anybody that wants an account. This includes the "garage mechanics." They need to fi nd ways to "support" the local dealers as we support them. M.B. McCRATE, CHAIRMAN OF THE BOARD TULSA NEW HOLLAND (TULSA, OKLA.) On a scale of 1 to 10, with 10 being the best, how has your dealership fared in 2016, and why? 8 What valuable lessons did you learn during 2016, and what do you plan to do differently in 2017? No drastic changes for 2017. On a scale of 1 to 10, with 10 being the best, how optimistic are you about your dealership heading into 2017, and why? 7. We are positioned well in our area to continue to grow our OPE equipment sales. "We can't wait for the customer to come to us; we have to get to them." — CYNDI EBY, MOUNTAIN ENTERPRISES