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.

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

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

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.

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

Manufacturers' ability to sell to Canada and Mexico is too important.

Scott Mcleod is the third generation owner of Degagne Equipment, a single-store John Deere dealership based in Emo, Ontario, just across the Rainy River from International Falls, Minn. Mcleod participated in RLD&’s 2018 Dealer Business Trends & Outlook survey and was the lucky random winner of the $100 gift card.