Leaving a Legacy: How Thoughtful Boomer Business Owners Are Retiring Without Burdening Their Employees or Their Communities

Leaving a Legacy: How Thoughtful Boomer Business Owners Are Retiring Without Burdening Their Employees or Their Communities

Source: http://seattlebusinessmag.com/business-operations/leaving-legacy-how-thoughtful-boomer-business-owners-are-retiring-without   SEATTLE, WA – At 65, Charlie Lanasa has long grappled with how best to retire from BestWorth Rommel Inc., the Arlington-based sheet metal fabricator he acquired nearly two decades ago. After putting in 70-hour weeks for the company, which makes gas station canopies and custom siding for clients such as Krispy Kreme and Porsche Bellevue, he wasn’t sure he could let go. And, a couple of years back, he began to have another concern: “I started thinking, ‘What happens if I get hit by a truck?’” LaNasa says. “It would violate all my principles.” LaNasa has always taken pride in operating the business by three principles: Act ethically, provide good stewardship of the firm’s assets, and take care of his employees, customers, vendors and subcontractors. How could he find a new owner who shared his values and who would keep the business in Arlington and provide security for his 100 employees in a community of 19,000? LaNasa’s dilemma is one shared by many among the nation’s growing population of aging business owners. Project Equity, a Bay Area nonprofit, estimates baby boomers born between 1946 and 1964 own 2.34 million businesses across the country and have nearly 25 million workers on their payrolls. In 2017, owners 65 years or older accounted for 36 percent of all small businesses with annual revenue between $100,000 and $10 million, and 45 percent of midsize businesses with yearly revenue between $10 million and $100 million, according to Minneapolis-based Barlow Research Associates. In a 2015 U.S. Census Bureau survey of Washington state’s 183,000 employers, roughly half of the business owners who responded were...
FLORIDA ENTREPRENEURS DISCUSS CHALLENGES TO SELLING A BUSINESS

FLORIDA ENTREPRENEURS DISCUSS CHALLENGES TO SELLING A BUSINESS

Selling or buying a business? B2B CFO’s “The Business Sale Solution” educational seminar highlights hidden dangers of transferring ownership   FORT LAUDERDALE, FL. (May 4, 2018) – Out of 20 million privately held companies that exist in the United States today, only 15,755 managed to successfully transfer ownership in 2017 according to Jerry Mills, B2B CFO®. What makes selling a business so challenging in today’s environment?   On April 25, 2018, a group of 20 South Florida business owners and advisors met at Bank United – Weston to answer that question and discuss the core issues of preparing companies for a sale. B2B CFO®, a national firm that serves owners of privately held companies with growth and exit strategies, recently launched “The Business Sales Solution” seminar series with a goal to educate business owners about the hidden dangers and risks involved in selling or acquiring a company.   The seminar addressed the following questions: (1) What is the #1 concern that business owners share about selling their business? (2) What type of buyer is best for the sale of your business? (3) What is needed to get past the possible deal-killers for your business?   “I’m walking away with great information that I didn’t know before” said Mary Beth Casey Franchise Owner of Expedia CruiseShipCenters, Fort Lauderdale who attended the event. “I imagined that the sales process would be complicated, but the presentation provided a process and some insights into how to approach the sale of our business. I feel more aware and therefore, more prepared.”   The event was organized by B2B CFO® in cooperation with Weston Hills...
B2B CFO Extends Leadership Position in Mid-Market Business Transitions

B2B CFO Extends Leadership Position in Mid-Market Business Transitions

Source: MorningStar.com Company sees widespread adoption of its proprietary exit strategy software, increased demand for expertise as owners of mid-market companies struggle to sell their businesses B2B CFO, nation’s largest CFO and business transitions services firm, today released a summary of its Partners expertise in exit strategy leadership, highlighting a rapidly expanding client roster for business transition work and widespread adoption of the firm’s proprietary exit strategy software. The summary, completed through a survey of the firm’s 233 Partners in April 2016, showcased expertise featuring 1,621 completed business transitions with more than $51 billion in sales value. With an average of seven business transitions per partner, B2B CFO has moved into a leadership position as the largest source of mid-market business transition experts in the nation. “Reaching this milestone affirms our leadership role in mid-market business transitions,” said Jerry L. Mills, CEO and Founder of B2B CFO. “Our Partners bring unparalleled expertise and talent to guide business owners going through a sale or acquisition, which typically is an extremely turbulent time in their lives. Combined with the tools, technology and resources that we have created specifically for exit work over the last three years, it is no surprise to me that more and more owners are turning to our Partners for strategic solutions.” B2B CFO added its exit services to complement its CFO services portfolio in 2013. Since then, the firm has published guidebooks, certification programs and even created proprietary software to assist business owners of privately-held, small and mid-market companies in the sale of their businesses. The firm’s Partners are noting an increase in exit strategy engagement work. “We...
B2B CFO Extends Leadership Position in Mid-Market Business Transitions

B2B CFO Extends Leadership Position in Mid-Market Business Transitions

Source: Finance.Yahoo.com Company sees widespread adoption of its proprietary exit strategy software, increased demand for expertise as owners of mid-market companies struggle to sell their businesses MESA, Ariz. [Business Wire] – B2B CFO, nation’s largest CFO and business transitions services firm, today released a summary of its Partners expertise in exit strategy leadership, highlighting a rapidly expanding client roster for business transition work and widespread adoption of the firm’s proprietary exit strategy software. The summary, completed through a survey of the firm’s 233 Partners in April 2016, showcased expertise featuring 1,621 completed business transitions with more than $51 billion in sales value. With an average of seven business transitions per partner, B2B CFO has moved into a leadership position as the largest source of mid-market business transition experts in the nation.   “Reaching this milestone affirms our leadership role in mid-market business transitions,” said Jerry L. Mills, CEO and Founder of B2B CFO. “Our Partners bring unparalleled expertise and talent to guide business owners going through a sale or acquisition, which typically is an extremely turbulent time in their lives. Combined with the tools, technology and resources that we have created specifically for exit work over the last three years, it is no surprise to me that more and more owners are turning to our Partners for strategic solutions.”   B2B CFO added its exit services to complement its CFO services portfolio in 2013. Since then, the firm has published guidebooks, certification programs and even created proprietary software to assist business owners of privately-held, small and mid-market companies in the sale of their businesses. The firm’s Partners are noting an...
B2B CFO Extends Leadership Position in Mid-Market Business Transitions

B2B CFO Extends Leadership Position in Mid-Market Business Transitions

Source: Marketwatch Company sees widespread adoption of its proprietary exit strategy software, increased demand for expertise as owners of mid-market companies struggle to sell their businesses MESA, Ariz., May 19, 2016, (BUSINESS WIRE) – B2B CFO, nation’s largest CFO and business transitions services firm, today released a summary of its Partners expertise in exit strategy leadership, highlighting a rapidly expanding client roster for business transition work and widespread adoption of the firm’s proprietary exit strategy software. The summary, completed through a survey of the firm’s 233 Partners in April 2016, showcased expertise featuring 1,621 completed business transitions with more than $51 billion in sales value. With an average of seven business transitions per partner, B2B CFO has moved into a leadership position as the largest source of mid-market business transition experts in the nation. “Reaching this milestone affirms our leadership role in mid-market business transitions,” said Jerry L. Mills, CEO and Founder of B2B CFO. “Our Partners bring unparalleled expertise and talent to guide business owners going through a sale or acquisition, which typically is an extremely turbulent time in their lives. Combined with the tools, technology and resources that we have created specifically for exit work over the last three years, it is no surprise to me that more and more owners are turning to our Partners for strategic solutions.” B2B CFO added its exit services to complement its CFO services portfolio in 2013. Since then, the firm has published guidebooks, certification programs and even created proprietary software to assist business owners of privately-held, small and mid-market companies in the sale of their businesses. The firm’s Partners are noting...