In the equipment world today, the Internet has changed the way equipment dealerships do business, opening up a new avenue of opportunity.
Carlin Binder took advantage of the opportunity to branch out, forming IronBin Machinery LLC in 2011. In March 2012, IronBin Machinery became the official “used equipment division” of Binder Machinery Company.
“We are currently in the midst of reconstructing our Web site for Binder Machinery and there will be a link on our new site to IronBin Machinery, which will show our entire inventory of used equipment, whether it is inventory we own or that we have on consignment. You can contact us if you want a particular piece of equipment through our Web site or give us a call,” Carlin Binder, general manager of IronBin Machinery, said.
If a customer wants something IronBin doesn’t have, the company will search for it.
“We have many ways of sourcing it — through the dealer network and lots of different channels of people that are in the used equipment business,” Binder said. “That is why we network and go to the auctions and want to get to know as many people as we can. We don’t want to leave any stone unturned.”
In addition to selling the used equipment of the manufacturers Binder Machinery currently represents, IronBin also will market its “Brand X” trade-ins or source used ’Brand X’ models required by our customers that we don’t offer, like combination backhoe/loaders for example. If we have the proper channel to source the product, we will make it happen for our customers” Binder said.
“Brand X is the manufacturers that we do not represent, such as Caterpillar and John Deere. To be able to have the awareness of the market and how it fluctuates is key to being successful in this business. We must have dedicated people in the used equipment division working on a daily basis, networking and driving that end of the business. That is something we feel has been very under utilized here at Binder Machinery in prior years. We have a tremendous opportunity for growth in the used equipment business with our proximity to the ports, our high market share of Komatsu, Wirtgen Group, and Sennebogen products, and our strong penetration into the crane market now with SANY.”
IronBin also is a strong believer in consignment.
“We can get [customers] a better return for their asset. We will market their machine through the dealership and on the internet; we can arrange financing for the buyer, which is very key. We make the buy/sell process easier, therefore creating a higher return for their asset. Consignment is something we are very focused on and we will be promoting it to our customer base as it provides us more opportunity to interact and service them at the highest level.”
For more information, visit www.ironbin.com.
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