HomeAll VideosIS THERE A TRICK TO BECOMING A DEALER? SMALL BUSINESS ADVICE.
IS THERE A TRICK TO BECOMING A DEALER? SMALL BUSINESS ADVICE.
November 15, 2023
I’m going to make videos about the range of customer emails I get because I think there are really a lot of people watching that have similar questions. Sometimes these will be more gear and machine focused, other times more business focused. Today’s is more business focused with a customer asking me what the right steps and requirements are for becoming a tractor attachment dealer.
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Not sure if this is the best way to get A hold of Courtney but if so I Appreciate your time reading this and Hopefully getting some feedback I Followed and watched most of your YouTube videos and you're really one of The reasons I want to get serious about Selling tractor attachments uh-oh this Might be backfiring I'm I'm inspiring Competition I live in North Carolina I Bought and sold used attachments for a While on Marketplace in some occasions I Buy them broken fix them and sell them I Really enjoy doing it and it brings in Some extra cash I have a full-time job That I also love and pays well too this Is where I need your feedback or at Least what you think I want to get into Buying and selling used and new Attachments as a real business I guess I Should just get an LLC how do I go about Selling new how do I even make money Selling new I see attachments and it Looks like it would be cheaper to just Buy them off of marketplace nope sorry Sorry I see attachments and it looks Like it would be cheaper to just buy Them off the Manufacturer yes that's that's pretty Straightforward there I feel like I need A lot of money just to even place an Order to have some attachments in stock If that's how it works is there a Minimum number of attachments that I
Have to buy do I have to be a dealer I Really don't know how it works I visited And talked to the owners of two local Farm equipment stores I talked to them And both roughly said not to get into The business jokingly I think they were Nice guys but a little disappointed on What they told me I'm hoping they were Just too busy to talk to me for that Long I have a local company that sells Attachments I can start with them I Don't mind the work it's just I don't Know where to start You don't really have to answer every Single question above I just don't know What the right question is to ask I Appreciate you taking time to read this Thank you okay so a lot going on here And I I'm joking about helping the Competition I mean I I'm confident enough in my abilities To know that I I've got my own market And that there's a ton of tractor Attachment dealers out there that really Only sell locally and there's some you Know I have some online competition too I'm I'm not I'm fully aware of that and That's the way of the world and it does Complicate things quite a bit more if You're going to go online and and sell Nationwide but in General how I started out selling was Finding attachments that I wanted to Sell right so let's just take pallet
Forks for example and those are one of The most popular tractor attachments That are out there and there's probably 100 or 150 manufacturers that make those And they're all going to be at different Price points you know different weight Ratings configurations and um areas of U The countries of origin where where They're manufactured and and yada yada Yada so the other issue is that you're Going to have some manufacturers that Will sell directly a lot of Manufacturers that uh will sell through Distributors that maybe like a Distributor covers Michigan where I'm at For example then a different distributor Covers Indiana you know and so maybe you Have to go through that layer um some Manufacturers just sell directly and so You you can't even work with them and so It's take that times every single Attachment you want to sell and you have To go through that process and then See what's going to work for you what Kind of relationships you can get what Kind of minimum buys you have to buy Everyone's going to be different there's Not going to be a a standard answer for Every brand that you're working with we Actually manufacture some attachments And sell uh to dealers as well and so We'll do bundle buys with minimum Quantities and since we ship Nationwide You know normally when we had stuff
Shipped into us from our fabricator that Manufactures for us it's you know on a Pallet that contains a set quantity of Whatever that item is so that's how we Do our our sales with dealers is that They need to buy based on the pallet Quantity because it's it just comes in Like that it's set like that it's easy To ship out it's already prepackaged and Then we give a bundle discount based on That to to send out to dealers and so You're going to Find I don't think most manufacturers Work it that way they're just going to Tack on freight based on whatever it is You order at the end of the year like Say now a lot of Manufacturers will give You an incentive an extra incentive to Place an order for next spring but There's No the only way that you can find this Stuff out is doing it so you need to Reach out and call and this applies to Any industry this isn't just tractor Stuff if you want to sell computer parts Or anything else it's it's the same kind Of a concept where you're going to find That there's no standard way that every Single manufacturer in your segment is Operating with a a set of the same set Of rules they all have different rules They all have different price points and I will say that the closer you can get To the manufacturer and get out of the
Distributors typically the better Pricing you're going to have um Sometimes the manufacturers are aware of That and will just make their price a Bit higher and keep some more profit for Themselves which more power to them but Otherwise if you have to go from a Manufacturer to a distributor and then To you for example well that's more People that need to make money on top of It keep in mind you then have to Market Up to sell to a an end user as well and And that's going to work against you the Cheaper the price point maybe not the Cheaper or lower quality product but Just the lower the price point in General the more likely you are to sell That product too so that just comes with Putting the time in talking to people You know and comes with the weeks the Months the years that go by on Understanding how that gain is played so Let's let's move on to the next point or Next question that he had folks we are Proud to be sponsored by rimgard Solutions a liquid ballast weight it Goes right inside your tires completely Hidden we're big on safety on this Channel these tractors are just too Light and Tippy right out of the factory Not only is it going to help with safety Keeping those rear tires planted on the Ground it helps with loader efficiency And traction too the benefits of rim
Guard include being the heaviest Allnatural liquid balast weight on the Market it's not going to corrode your Rims like the old calcium chloride it's Not going to freeze and it's available At over thousand dealers Nationwide find The dealer near you at rimgard Solutions.com he asked if he should get An LLC and yeah I mean I would contact Your accountant and and maybe an Attorney uh to do it the right way or Just go to Legal Zoom or at least Something on there and get set up you Want to have protection for your Business to separate that from your your Personal accounts and everything else so Keep that separation there get set up For taxes and and everything else Separately and take advantage of um Those policies when you can feel like You need a lot of money to even place in Order to have some attachments in stock Well yes and no uh it does really it Does take money to make money in my Opinion at least a significant amount But once you become credit worthy with a Lot of different well within your Industry you're going to find that you Can get credit terms it's not going to Be a cash basis where if you place an Order you have to pay for it right then Before it's delivered but you can get Maybe uh 30 60 90 day 180-day terms Depending on what it is and you could
Potentially if you know what you're Doing have all of your inventory sold And have that cash come in by the time That you have to make the payment in 180 Days or 90 days whatever it is so you Potentially could use no cash of your Own at a certain point but that is going To be tough to do upfront without any Kind of creditworthiness in the industry And then finally he doesn't know where To start and that is a good place to Start is asking the questions you can't Be Afraid well I think a lot of folks would Be afraid to go into a a tractor Dealership like he did with a couple of Play and ask them how to do this because You're asking your competition how I can Compete against you and I don't blame Those dealers for not giving him a lot Of information and I also told this Gentleman I'm not going to give you all Of the secrets right it's you know I again it comes back to don't be afraid To ask the question but expect to be Told no and when you're not told no then Great take advantage of that opportunity And glean what you can from it but That's the only way you're going to grow Is putting yourself out out there and Taking risk like we've talked about Before and this risk really isn't I mean Maybe it affects some of your ego and That's about it right it's it's it's
Costing you a little bit of time but You're going to learn something from it Either way I mean every interaction you Have you're going to learn something From it and that doesn't mean you're Learning something from a dealer that Tells you go away I'm not going to help You out at all but maybe then you know How to approach the situation Differently the next time around too and So you can get better from that you can Improve from that and you're going to Find that you become more efficient with Your own time the more often that you do It so hopefully that helps some other Folks out there that are thinking the Same things that this guy took the time To email me about and I appreciate him Doing so and I applaud him for doing so And for you guys out there as well keep On churning you know again it doesn't Have to be tractor stuff it could be any Market segment that you're into the same Concepts apply and you can't beat hard Work now if you are in the market for a Tractor or tractor attachments we would Love to help you out you can check out Goodworkstractors docomo sell and ship All over the country every day the week I want to thank you for taking time out Of your day to stop by and until next Time stay safe we'll see you [Applause] [Music]