Jeff Bannon
Executive AssistantAll Articles
How Can I Protect Our Multiples & Value During Difficult Times?
Protecting the value of your business is what succession planning is all about. When going through, as well as, once on the other side of difficult times, take another look at your business with a fresh set of eyes. Consider looking at your business from a buyer's perspective. It is here you are able to identify whether or not you have your succession plan, estate plan, and operational/contingency plans in place to help protect the value of your business. Thank you to Gina Miller, a Partner with Bennett Thrasher, and our very own succession planner, [...]
Develop a Succession Plan to Protect Your Business and Assets
Without a succession plan, multi-unit franchisee owners are giving up their control over to the fate of the environment. Every business owner should at least think through succession strategies. Listen to Jeff Bannon’s insight which provides some next steps to get started and key issues to think through. There is 100% certainty an owner will face a succession dilemma and the only way to ensure you are in control is to develop a plan. Contact us and we can help you with insights, other resources, and see if it makes [...]
4 Key Areas Every Business Owner Should Take Control Of
As the world shut down in 2020, entrepreneurs lost control. No one can tell us when the next disaster will occur or whether it will happen in our lifetime. However, there is 100% certainty every business is confronted with some transition, also known as "Succession," whether through a sale, gift, or death. In the article, 4 Key Areas Every Business Owner Should Take Control Of, Jeff Bannon shares four key areas every business owner should take control of while they have the runway of time to do so: 1. Your Estate Plan Those of you who have not put [...]
How Can I, as a Car Dealer, Be More Pro-Active When Business Disruption Events Happen?
There is an old adage, “Never let a good crisis go to waste,” and COVID-19 is providing a lot of opportunity for us to learn and protect ourselves from a future crisis. Back in 2008-09 businesses learned the importance of having cash on hand, minimizing costs, cross training talent and ensuring succession plans were in place. These same core issues are at play with our current crisis and so we have the opportunity to plan for the unknown before it happens. Watch the short video to hear Jon Paul Davis, a Partner with HHM CPAs [...]
Family, It’s Complicated: Partners, Children, and the Bottom Line
“You Are like Family” is a phrase many often say to friends. Over time and connectivity, the emotional ties with neighbors, teammates and colleagues grow to feel like family. Bring this dynamic to your business, and the size and complexity of your family begins to grow exponentially. As a result, family dynamics can become quite complex. Thru acquisition, mergers, stock recognition plan, equity buy-in, or at the inception of the business, you are a or you have minority partners in the business. Amongst partners, there are very simple, common expectations that, surprisingly, can be misconstrued. First--and foremost--is simply "We [...]
Examining How A Private Equity Partnership Can Help Your Business Grow
If you are a risk-taking multi-unit franchise owner and looking to grow your business quicker, you may be considering private equity. Before you jump in , consider the following questions for "How do you get IN, and HOW do you get OUT? From the “How You Get In” consider the following questions: What are the options available to securing debt? Where does private equity fit? Is your corporate structure appropriate for private equity? What are the “trendy” brands? Is it a good time to go to market? The biggest question to consider, which is why it gets it’s own [...]
