Rick Newman, owner and founder of Newman TractorNewman Tractor
In the early days, Rick Newman had no plans to become an equipment dealer – he was just looking to earn a modest living and give back to his community. During this period, he would buy equipment at auctions, tune it up, and resell it. As his reputation for quality used equipment grew in the Verona, Kentucky area, his side hustle turned into a full-time gig.
The business gradually expanded into rental, which still accounts for 50 percent of Newman’s revenue today, and eventually, new equipment sales. Newman Tractor is now a full-line Sany and Morooka dealer, along with various brands of attachments and accessories. It has 5 locations and 100 employees in Kentucky, Ohio and Florida.
As the company has evolved, Rick has kept faith and family values at the forefront. He passed those values down to his children, Justin Newman and Meredith Newman, who now work alongside him as part of the “G2,” or Generation 2, leadership team.
“It’s a Cinderella story of sorts,” says Meredith, who serves as vice president of process improvement and administration. “Dad came from a humble background and built it all on relationships.”
The business is now at a pivotal crossroads between old and new. The second generation is building up the technology, processes and people necessary to keep up with the expansion of the business while maintaining its small, family-owned business feel.
“The challenge is not buying into the transactional, one-and-done with customers,” says Justin. “That’s the transition we’re making as we get bigger: how to keep it a family, how to keep it tight, and how to keep it about the customer - to the point where our customers feel like family and never leave once they buy that first machine.”
