Sometimes referred to as the Airbnb of ag equipment, MachineryLink Sharing offers growers a way to access equipment that they need while respecting that current market conditions aren’t favorable towards purchasing new equipment. MachineryLink Sharing also offers an added revenue stream for both growers and ag retailers who would have equipment sitting idle at various times of the year. I spoke with Jeff Dema, President of FarmLink, at the recent National Association of Farm Broadcasting TradeTalk about the launch of the program, how it has been received so far, and plans going forward.
MachineryLink Sharing is the first online, internet-based machinery sharing platform for agriculture. First launched through partnerships with ag retailers, the platform has now been launched to individual growers as of October 2015. The website hosts over $60 million worth of equipment available as of November 2015. The USDA estimates that there is $144 million worth of equipment sitting on farms today with a low utilization rate.
“Sharing allows farmers to unlock value on equipment that they aren’t currently using, like a combine or planter, that would normally only be used for a month or two out of the year. Farmers can use that asset to generate revenue now using the sharing platform.” Jeff Dema, President, FarmLink.
MachineryLink facilitates the partnership between people looking to lease equipment with those looking to generate revenue, but the control is in the hands of the equipment owner in regards to making agreements. The equipment owner chooses the equipment, takes photos, notes, and operating information to add to the site, and approves the deal with the person interested in leasing. Originally intended for combines (what MachineryLink is most known for) and planters, the platform has expanded to a wide variety of farm equipment.
If you’re concerned about the risk leasing your equipment, MachineryLink Sharing has taken steps to mitigate the risk including insurance on leased equipment, ratings on the site for both equipment owners and those looking to lease, and they are excited about the results so far.
To hear more of Jeff’s interview: [wpaudio url=”http://traffic.libsyn.com/zimmcomm/nafb-15-farmlink-dema-machinerylinksharing.mp3″ text=”Interview with Jeff Dema, FarmLink”]