We are excited to announce that our team will be attending the AED Summit 2025 from Wednesday, January 15 through Friday, January 17.
If you plan on attending, we would love the opportunity to meet in person and get acquainted. You can schedule a meeting with us to discuss the current market conditions, review your long-term strategies or succession plan, share our expertise, and answer any questions you have. You may also contact us privately for a complimentary opinion of value on your business.
Attend Our Speaking Session
Thursday, January 16, from 3:45 p.m. to 4:45 p.m.
“Passing the Torch: Ensuring Success Across Generations in Your Equipment Dealership”, with Brad Stanek of Morgan Stanley:
Are you looking to transition your dealership to the next generation in the next 3-5 years? The statistics are sobering: 66% of businesses fail to survive beyond the second generation and the stakes could not be higher for retiring owners and their successors. This transition not only affects the financial stability of the parents, who often rely on the income or proceeds from a sale to their children, but also the future success of the next generation tasked with running the dealership. In this session, we will equip you with the knowledge to start the process at the right time, navigate the common pitfalls, and implement essential practices to greatly enhance your chances of a successful handover.
Key topics include:
- Identifying the optimal timing for initiating the transition process and the key preparatory steps needed to ensure a smooth handover to the next generation.
- Insights into the common challenges and mistakes that occur during transitions and how to navigate them effectively.
- Gaining the knowledge to build out your own comprehensive and actionable plan that addresses the personal, financial, legal, and operational aspects of passing a dealership to the next generation.
- Understanding how to foster effective communication between generations to ensure alignment of goals, expectations, and business practices
