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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 6: Identifying Options for Transferring Ownership

By Rex A. Collins posted on August 3, 2018 | Posted in Best Practices

Consider various strategies for transferring ownership, including gifting, selling or redeeming the owner’s interest, selling business assets, tax-free exchanges and others methods.

Succession Planning Step 5: Planning for Ownership Succession

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

Succession planning involves the perspectives of the purchaser as much as the seller. The purchaser could be the children or other family members of the owner, or they could be non-family members. Here are considerations to make when accounting for buyer perspectives.

Succession Planning Step 4: Review Options for Funding the Transfer

By Rex A. Collins posted on July 20, 2018 | Posted in Best Practices

Transitioning ownership involves careful consideration of how the transaction will be funded. Buyers and sellers should remember several funding options in succession planning.

Succession Planning Step 3: Determine Retirement Cash Needs

By Rex A. Collins posted on July 10, 2018 | Posted in Best Practices

A major consideration in succession planning is determining the ongoing cash needs of the retiring owner and how those needs will be funded.

Succession Planning Step 2: Identify and Prepare New Management

By Rex A. Collins posted on July 3, 2018 | Posted in Best Practices

The successful transition of management responsibilities is a critical part of a succession plan and even more critical to the ongoing survival of the dealership.

Succession Planning Step 1: Identify & Prioritize Goals

By Rex A. Collins posted on June 29, 2018 | Posted in Best Practices

Ensure the future of your dealership by following a sound process for succession.

Succession Planning

Getting Key Employees to Stay When You Leave

By Rex A. Collins posted on June 8, 2018 | Posted in Best Practices

Consider these seven components as you develop your employee retention strategy.

2018 Spring Digital Edition of Rural Lifestyle Dealer

By Lynn Marcinkowski Woolf posted on May 7, 2018

Read flipbook version

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.

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RhinoAG Production Tour to Mark 90 years

Lessiter Media editors visited RhinoAG in Gibson City, IL to get a behind-the-scenes glimpse at the production processes and attention to detail that have contributed to their longevity as they celebrate their 90th anniversary in 2024.

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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.

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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.