Cost of Doing Business
The Cost of Doing Business Study, published annually by WEDA, is one of the industry’s most valuable publications. The annual study is broken down by dealer type (agricultural, industrial, and outdoor power), and encompasses 14 important financial and operating ratios of North America’s equipment dealers. This valuable study compares the financial performance of all dealers (regardless of lines or manufacturers represented). Dealer members use this information to assist in the valuation process of their businesses for estate planning, buy/sell agreements, sales, and merger/consolidation purposes. The CODB Report includes benchmarks so dealership goals and budgets can be established for future years.
Benefits of the Cost of Doing Business Study:
- Participants can compare their financial performance to that of all dealers (regardless of lines or manufacturers represented);
- Dealers/Members need this information to assist in the valuation process of their businesses for estate planning, buy/sell agreements, sales, merger/consolidation purposes;
- The CODB Report includes benchmarks so dealership goals and budgets can be established for future years;
- A trade association should establish the tradition of generating this type of survey so that trends in business can be established and information can be gleaned that will help dealers improve financial performance in future years.
We utilize Equipment Dealer Consulting, P.C. Certified Public Accountants (formerly SWA Financial Consulting, P.C.) – Lonnie Finch, CPA; Terry Heins, CPA; Tom Hancock, CPA – to take the information you provide and compile the results into a Study that will be a useful tool in the management of your dealership(s) and that has results you can trust and take pride in. It is imperative that at least 100 equipment dealers submit financials for our Western Equipment Dealer Association CODB Report to be credible. Please assist us in making the 2018 Study meaningful and useful to the entire industry.
Price of survey results:
- Equipment Dealers who submit financials – No charge.
- Members who do not submit financial information – $275 per survey.
- Nonmembers who do not submit financial information – $525 per survey.
You have two options in sending your financial information to WEDA – one is to complete the attached “template” by transferring the “numbers” from your financial statements to the “template.” The other option is to simply send a copy of your year-end financials.
Please note that your information will be kept in strictest confidence and if you choose to not disclose your store/dealership name, that is certainly acceptable.
Please supply your most recent year-end financial statement (after prudent adjustments truly reflecting your year-end results have been made). Note: This statement may differ from your 13th month statement. Finally, please answer all questions on the transmittal sheet and send the transmittal sheet along with your financials. The transmittal sheet is also included in the “template” for your convenience.
Financial Statement Submission is Finished for 2017 CODB
If you have any questions, comments or concerns please contact your Association offices at 800-762-5616 (U.S.) or 800-661-2452 (CDN).