Following the success of its first three, sold out events, Lessiter Media Inc., Brookfield, Wis., has announced the theme of the 4th Precision Farming Dealer Summit — “Building Business Value with Recurring Revenue.”

Rabobank is forecasting that median Midwest corn farmers will be working with a margin of about 4% during the next 4-5 years. This is “unacceptable” and means they will need to increase their efficiency while continuing to cut costs, Kenneth Zuckerberg told attendees of the 2018 Precision Farming Dealer Summit in January.

As precision farming departments at farm equipment dealerships evolve, adding agronomic services has been somewhat of a natural progression. But, generating recurring revenue from agronomic services can be a challenge.

The shifting nature of precision farming demands a foundation for employee commitment, yet the unique structure of any given dealership eliminates the possibility for any universal blueprint. Rarely does the perfect formula come from direct replication or an unhinged maverick move, but the best plans often fall somewhere in between.

Staff training was part of nearly every discussion at the 2018 Precision Farming Dealer Summit in Louisville. Precision is where things are moving fastest, and the expectations of farmers and the dealership itself (both equally unrealistic at times) and the firefighting at planting and harvest require highly structured processes and duties.

Employee turnover is a predicament most precision farming dealers will need to navigate through at some point. The average tenure of a precision farming specialist at a dealership is often cited as about 18 months.

Among the top things to consider when it comes to taking in a piece of used precision technology are age and condition of the unit, who potential second customers are and how many of the same unit you have in inventory already.