Used Equipment Management Seminar

Used equipment is a business in and of itself. It’s not the same as selling new equipment. With new equipment. everything is essentially the same. You know the cost, the programs, the machine condition, and the warranty. But with used machines, all those things are unique.

As a used equipment manager, you’re faced with both a great challenge and a great opportunity. This seminar is designed to address the basics of selling used equipment in order to expand your customer base and provide pathways into competitive users for conquest sales. This program will provide you with the tips, tricks, and tools to become an effective used equipment manager who not only runs their own “business within a business,” but creates opportunities for higher wholegoods margins and parts and service business as well.

Content includes:

The Business of Used Equipment

  • Categories of used equipment
  • Relationship between forecasts and inventory
  • KPIs for used equipment
  • Managing the sales process
  • Marketing strategies for selling used equipment

Used Equipment Valuations

  • Managing reconditioning cost
  • Proper valuation of trade-ins
  • Sources influencing trade valuations
  • Pre-sell’s influence on used trade-in valuation
  • Appraisal best practices
  • Establishing market share goals

Cash Washout

  • Cash flow of trade-ins & washout of new machine sales
  • Calculating wash out
  • New/used machine relationship capacity
  • Establishing cost of goods sold to calculate profit

Compensation

  • Methods of compensation for used sales
  • Hold-backs
  • Mitigating the unknowns: machine condition, market demand, true retail value & write-downs
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