Under the Restaurant Table Posted on October 25, 2018 by Doug Robbins A dishonest business owner discovers the domino effect … the hard way. Early in my career I was selling a mid-sized restaurant in a shopping mall. It was a nice restaurant, family style, licensed, table seating of a hundred and twenty with ten bar stools. The statements showed a reasonable profit, not great, but reasonable. […] Read More…
Out of the Shadows Posted on August 22, 2017 by Doug Robbins The following is a great example of the complexity of family-run businesses. It’s often just one thing that needs fixing. Out of the Shadows Approximately eighteen years ago I was approached by Graham, who wanted to know if I could put a value on his business. Of course I said yes. While our Comprehensive Business […] Read More…
Playing Hardball Posted on January 12, 2017 by Doug Robbins The secret to a successful next generation transfer is to create a structured plan as a guide prior to the changeover. The plan needs to be specific to the business and to the family’s circumstances. Once potential trouble spots are identified, proper succession and transition plans can be put into place to overcome them. The goal […] Read More…
I Put My Foot Down Posted on December 1, 2016 by Doug Robbins An old Chinese proverb says, “He who speaks first, loses.” Consequently, I always advise my clients to simply answer any questions put to them by the purchaser during negotiations, without offering any additional information or overtures. I tell them that when the purchaser is allowed to speak first, we can assess the proposals as they […] Read More…
Have an Exit Strategy Posted on October 3, 2016 by Doug Robbins A professional practice is a business, just like any other, and partnerships are prone to fail. The cost of setting up the correct structure for operating and ultimately terminating the partnership is relatively inexpensive compared with the cost of unraveling a relationship that no longer meets the original needs, not to mention the emotional cost. […] Read More…
The Elephant in the Room Posted on September 12, 2016 by Doug Robbins It was time for Ned to retire from the family business. But Ned didn’t have an exit strategy, so he came to us. He and his wife, Joanne, had three children – two sons and a daughter. All three siblings were married. All three worked in the business with Mom and Dad. It was a profitable business. […] Read More…
Just Another Day at the Office Posted on May 26, 2016 by Doug Robbins How to Fill Those Sixty Hours? Selling the business isn’t an end. It’s a beginning. But the beginning of what? If business owners fail to see what’s out there for them if they sell, they will prefer to stay in that protective trench of their business. It’s important for such owners to have a clear […] Read More…