How can I cash in on the current Machinery and Equipment boom? 7 ideas and 7 actions.
- By: "Prime" Ag News
- Machinery & Equipment News
- Mar 03, 2022
- 387 views
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By Dwain Duxson - Farm Tender
The current Farm Machinery and Equipment market is red hot, it has been for some time, and we think it will keep rolling. Here are 7 ideas and 7 actions that can help you take advantage of the situation.
Idea 1 - There's an old rule. If you haven't used something for 2 years, it's time to move it on.
Action 1 - Take a walk around the Farm, identify these items, and get them out there.
Idea 2 - All the things we buy for the Farm will be more expensive in 2022, which could affect profitability.
Action 2 - Think about how you can offset some of those costs but selling something. That way, you won't be as exposed.
Idea 3 - List forward.
Action 3 - This one can be tricky, but everyone knows where they stand if you clearly outline that XYZ Tractor will be available in 3 months. There benefit here is extra leads.
Idea 4 - Be firm (but fair) on your price.
Action 4 - In this current climate, there is much less haggling. If they want it, they will pay your price. Be firm but fair on the price, and you will have no trouble selling.
Idea 5 - Go where the greatest audience is.
Action 5 - Find the listing spots that have the biggest reach. You can only reach so many by advertising in your local paper. Think bigger and reach wider.
Idea 6 - For red hot items, buy, use and then sell.
Action 6 -This is an example, a customer in Queensland bought a Hay Super Conditioner. He used it, then onsold it quickly for the cost he purchased it for. They knew that the Hay season extends as you move further south, and these things would be in demand.
Idea 7 - Go where people can help you.
Action 7 - You don't have to do it alone. There are experts out there that can help you through the selling and buying process.
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