Riding Back to Relevance: Harley's Strategic Acquisitions and the Scott Fischer Advantage

The motorcycle industry has weathered turbulent times, with Harley-Davidson (HOG) navigating leadership changes, shifting consumer preferences, and the rise of electric vehicle competition. Yet one overlooked catalyst for Harley's revival lies in its dealer network—and specifically in the hands of Scott Fischer Enterprises. This Florida-based firm's recent acquisitions of Harley's historic Milwaukee and West Bend dealerships represent a masterclass in strategic real estate optimization and brand revitalization. For investors, the move underscores a compelling thesis: Harley's legacy is far from over, and Scott Fischer's proven playbook could unlock long-term value.

A Strategic Move to Harley's Heartland
Scott Fischer Enterprises' entry into Wisconsin—a state synonymous with Harley's 122-year history—is no accident. The acquisition of the Milwaukee and West Bend dealerships, announced in July 2025, places the firm at the epicenter of Harley's cultural DNA. These locations are not just retail outposts; they're pilgrimage sites for riders and emblems of the brand's “freedom and rebellion” ethos. By owning these properties, Scott Fischer gains a platform to reimagine Harley's presence in its birthplace, blending nostalgia with modernity.

The firm's track record is critical here. With over 40 years of experience in buying, operating, and revitalizing dealerships—including a peak of $121 million in annual revenue in 2014—Scott Fischer Enterprises has a demonstrated ability to transform underperforming locations into customer-centric hubs. Their existing portfolio, spanning Florida to New Mexico, shows they know how to balance operational discipline with community engagement.

Revitalizing Through Community and Efficiency
The West Bend dealership's temporary closure reversal in late 2024 offers a microcosm of Scott Fischer's strategy. Initially slated to close during winter 2024–2025, the decision was reversed after customers petitioned to keep the doors open. This responsiveness highlights a core tenet of their approach: dealerships thrive when they're woven into local fabric. By prioritizing community feedback, Scott Fischer ensures these locations are more than sales floors—they're social anchors.

Operationally, the firm's focus on “destination dealerships” aims to boost foot traffic through experiential elements. The Harley-Davidson Riding Academy, parts and accessories departments, and financing options all serve as revenue diversifiers. Meanwhile, the Milwaukee store's year-round operations and premium service offerings position it as a flagship for Harley's midwestern revival.

The Experiential Retail Edge
In an era where consumers crave immersive experiences, Harley's dealerships are uniquely positioned to capitalize. Scott Fischer's investments align with a broader trend: experiential retail drives loyalty and lifetime value. The Milwaukee and West Bend locations now serve as test beds for this model, offering everything from customization workshops to riding clubs.

This strategy isn't just about selling bikes—it's about selling a lifestyle. For Harley, which has struggled to retain younger riders, these touchpoints could reignite passion for the brand. The firm's emphasis on safety training and community events also mitigates risks tied to declining motorcycle sales, creating stickier customer relationships.

Investment Thesis: Harley's Undervalued Turnaround Play
Harley's stock has languished in recent years, down over 25% since 2020 despite its iconic status. Yet Scott Fischer's moves suggest a turning point. By leveraging real estate in its core market, improving operational efficiency, and doubling down on community ties, the firm is addressing Harley's most pressing weaknesses.

For investors, this creates a multi-pronged opportunity:
1. Brand Revitalization: Scott Fischer's focus on Harley's heritage in Wisconsin could spark renewed interest among traditionalists and younger audiences alike.
2. Operational Gains: Dealerships optimized for customer experience and cost efficiency could lift margins, especially if motorcycle sales rebound.
3. Experiential Premium: As discretionary spending shifts toward experiences, Harley's dealer network becomes a moat against competitors.

While Harley's broader challenges—such as electric vehicle competition and shifting demographics—remain, Scott Fischer's strategic moves mitigate these risks. The stock, trading at a 5-year low P/E of 8.5x, offers a margin of safety for long-term investors.

Conclusion: A Ride Worth Taking
Scott Fischer Enterprises' acquisitions are more than real estate deals—they're a blueprint for Harley-Davidson's future. By anchoring itself in Wisconsin's symbolic heartland, the firm is betting on Harley's timeless appeal to riders who crave authenticity and community. For investors, this is a chance to back a resilient lifestyle brand at a discount, with catalysts like dealer network optimization and experiential retail poised to drive upside.

Harley's journey isn't over—far from it. And in Milwaukee, the engine of its revival is roaring to life.

Investment recommendation: Consider a long position in HOG for investors with a 3–5 year horizon, targeting a 15%–20% return as operational improvements and brand revitalization take hold.