What’s In It For You?Written By: GARRY BARTECKI
Article Date: 01-01-2007
Copyright(C) 2008 Associated Equipment Distributors. All Rights Reserved.
What you get out of your AED membership depends on you.
What do you get from AED membership? As with any organization, what you get out of it depends on how much you put into it. All I can say is being on site at the AED offices as much as I am, I can tell you there is a constant effort to not only maintain AED's existing value-added proposition but to improve it every year.
There is no question about AED's ability to deal with macro issues, such as industry related tax and accounting issues and the ever-present industry political issues. In the last couple of years, you've seen AED negotiate with the IRS about our industry's practices, lobby to have certain rental requirements removed from federal contracts, and constantly remind those that need to know about road and infrastructure funding.
On the training front, the AED Foundation has been improving its programs and services to assist dealers with internal training, covering all departments and all levels of personnel. There are seminars, online courses and self-study courses. Assessment surveys are also available to help identify where training efforts should be focused.
And, don't forget the annual convention, which has been expanded with content for sales, rental, parts and service managers, as well as CFOs, and the Executive Forum with its hard-hitting informative program.
For members that don't attend the meetings or participate in The AED Foundation's programs, AED offers industry publications that allow you to benchmark your business against your competition and against other dealers that work with your major manufacturers. These include the Cost of Doing Business report, Sales Compensation reports, Employee Compensation reports, the Rental 2006 study, the just released Construction Equipment Market report and many others.
Last year, AED introduced a mapping service to simplify your participation in the Cost of Doing
Business study. In 2007, AED will take this a step further by offering a monthly dashboard report,
again making use of the mapping process. Map the trial balance once and then just electronically
send the monthly trial balance to AED to get your report (there is a nominal fee).
AED also provides Preferred Provider Programs, which usually include an AED discount on the service. They include:
Accruit provides a service to help dealers that qualify implement a like-kind exchange program. Like-kind exchange programs can help you defer taxes on the sale of rental equipment.
EDA (Equipment Data Associates)
EDA assists members in identifying potential markets and offers a new service to analyze and increase market share via a new web-based program.
Charter One Bank
A frequent complaint from dealers is about the costs associated with credit card transactions. Consequently, AED investigated vendors capable of handling a national program and selected Charter One to help dealers save on processing fees and the internal cost of the credit card process. They offer a single source solution, a dedicated sales consultant, tailor the program to each dealer's needs and provide competitive rates.
Use of any one of these programs should substantially offset the cost of membership in AED. And more are on the way. No matter what size dealer you are, AED can help you run your business better and be more profitable.
And don't forget to join us at the Financial Planning session at AED's Annual Meeting where we will be discussing an IT survey of CEO's and various financial planning tools available to dealers.
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