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Family Business Survival Session Set For GAAS 2013

Business advisor and speaker Susan Rounds says all business owners struggle with the "keep vs. sell" decision and that all businesses are in transition.
By Shop Owner Staff
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Business advisor and speaker Susan Rounds says all business owners struggle with the "keep vs. sell" decision and that all businesses are in transition. Rounds, a senior vice president with Wells Fargo Wealth Management, says this transition can be by design or default.

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Rounds will present "Strategic Positioning of the Family Business and Wealth" at the 2013 Global Automotive Aftermarket Symposium (GAAS) scheduled for May 21-22 at the Hyatt Regency O’Hare near Chicago. Rounds’ session is one of four breakout sessions that will be featured for the first time at GAAS. Each session will be repeated once. 

 

In her role with Wells Fargo Wealth Management, Rounds helps her clients approach business succession planning in a holistic manner that encompasses both business objectives and family objectives.

 

"The key is to develop an integrated strategic plan that will maximize value and minimize taxes whether the business will be sold to a third party, or transferred to the next generation," explained Rounds. "Every business owner should plan to attend my session. The information I will present is critical to the survival of any privately-held business entity."  

 

GAAS 2013, with a theme of "Driving Change," brings together industry leaders and experts to examine the issues and trends affecting the worldwide automotive aftermarket and influencing its future. Each year the net proceeds of GAAS are invested in the organization’s scholarship fund to help students get their automotive aftermarket career started. Additional scholarship funding comes from industry contributions from individuals, companies and foundations. To date GAAS, has awarded scholarships to more than 1,600 students representing $1.6 million in aid.

To register for GAAS 2013, visit www.globalsymposium.org or phone (301) 654-6664. You can also connect with GAAS through Facebook, YouTube, LinkedIn and Twitter.

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When Your Shop Is Worth Much More Than You Thought

Although every sale of a shop in which I am involved has its own unique set of circumstances, which makes my job both very interesting and very challenging, Cowden Automotive stands out as particularly memorable because I was able to demonstrate to the long-time owner, Paul Cowden, that his business was worth about three times what he had initially thought.

By Art Blumenthal
Leveraging more than 30 years of experience as both an aftermarket business owner and aftermarket technology executive, Art Blumenthal LLC provides business intermediary and advisory services to both buyers and sellers of industry businesses of all sizes. Art is a member of IBBA (International Business Brokers Association, Inc.). For more information, or to initiate a no-obligation confidential consultation, visit www.art-blumenthal.com.
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Case Study: Owner of San Francisco-based Import Service Shop Delighted to Discover Just How Valuable His Business is to Qualified Buyers
I sometimes share case studies of the clients I have been able to assist in my role as an aftermarket business broker and provider of intermediary and advisory services. I do that when I think the story will provide a reader in similar circumstances with new insights or helpful information.
In the case of Cowden Automotive, Inc., I acted in a consulting capacity assisting the owner and his broker in valuing the business, creating a marketing plan, finding a qualified buyer, and arranging financing for the sale.
Although every sale of a shop in which I am involved has its own unique set of circumstances, which makes my job both very interesting and very challenging, Cowden Automotive stands out as particularly memorable because I was able to demonstrate to the long-time owner, Paul Cowden, that his business was worth about three times what he had initially thought.
Needless to say, delivering that kind of good news to a shop owner is a rewarding experience. Discovering that the sale of his business would result in his retirement nest-egg being substantially larger than he had ever thought was a fitting tribute to someone who had spent his entire working career as a busy automotive service shop owner.

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