DeJong Greenhouses, Inc. has been acquired by Dan & Jerry’s Greenhouses LLC Dan & Jerry’s Greenhouses LLC has a total of four locations, two in Monticello MN, one in Buffalo MN and one in Madison SD encompassing approximately 35 acres of greenhouse space. They serve independent garden centers, regional chains, supermarket chains and nurseries throughout Illinois, Iowa, Minnesota, Nebraska, North Dakota, South Dakota and Wisconsin. DeJong Greenhouses, Inc. is an eighty-year-old business
Note: I was recently interviewed by the Corridor Business Journal regarding my views on business ownership transition. Here is the article for which I was interviewed. By Dave DeWitte firstname.lastname@example.org As a growing number of baby boomers prepare to pass the baton of business ownership, they face a complex and sometimes lengthy process for which many are unprepared. “The most frequent comment I get is, ‘I had no idea how difficult this would be,’” said
By Shruti Gurudanti, May, Potenza, Baran & Gillespie | January 3, 2017 Co-author: Austin Potenza Let’s say you’re looking to sell your leather manufacturing business. A buyer comes along and asks you to make her an offer. What’s the best way to determine the worth of your business? There isn’t one right formula. But here are a few common valuation techniques: (1) asset-based, (2) income-based, and (3) market comparable. The most appropriate method will depend on your company’s individual
Maurie Cashman has been awarded the designation of Certified Valuation Analyst (CVA) by the National Association of Certified Valuators and Analysts (NACVA®). The CVA designation has been accredited by the National Commission of Certifying Agencies® (NCCA®), the accreditation body of the Institute for Credentialing Excellence™ (ICE™). NACVA’s designations serve to advise other professionals, prospective clients, and the community at large that the member has satisfied the Association’s rigorous Standards of professionalism, expertise, objectivity, and integrity
By Maurie Cashman Is employee ownership appropriate for every employee? Consider this example. Tom Pace was dedicated to his business and to each of its 48 employees. As he began thinking of the day when he would leave his wholesale landscaping supply business his thoughts turned to selling the company to the three key employees who had done so much to build the business and who ran it on a daily basis.
By Maurie Cashman There is a new republican majority after this year’s election. A significant driver of this election was the desire to reduce the burden of government regulation from U.S. businesses. However, nothing will change unless it is followed up by action, and in the short term bureaucrats may be trying to get their rules in place before the new administration takes office. Here are a few issues that you might consider writing to
By Maurie Cashman Opportunities to learn often come suddenly and then they are gone. Great performers are able to identify and capture those opportunities to learn very quickly from an experience or situation they are presented with. Great managers have the experience to see these opportunities and create environments for their team to consistently capture these fleeting moments when experience is created. “Learning is not compulsory; its voluntary. But to survive, we must learn.” W.
By Maurie Cashman Sometimes the answers are simple but not obvious, particularly when the problem is something we see every day. Can you solve the following simple problem? (Note, you have 20 seconds to answer) I often come across problems like this when performing a business valuation or when beginning to work on an ownership transition plan. Things will jump out during analysis of a business that are simply not visible to the business owner.
By Maurie Cashman In the past two weeks we’ve looked at several key elements of your buy-sell agreement and the transfer events that can trigger a buyout. Let’s look at the types of changes that can transform that robust buy-sell you created years ago into a cumbersome and potentially dangerous relic. We’re also including a checklist that will help you assess the sustainability of your buy-sell agreement.
By Maurie Cashman Last week, we discussed what a buy-sell agreement is and why you should dust it off, take a second look at it, and call your advisors to update it. This week we’ll look at the incidents that can occur during the lifetime of a business that can be managed by a carefully designed and well-maintained buy-sell agreement. One agreement can impartially and fairly treat all parties when bad things happen.