Andrew Rogerson's Blog, page 37

Proposed Legislation to Fix ADA Violations

New legislation has been introduced by a Southern California lawmaker in an effort to cut down on the number of frivolous disability-access lawsuits brought in our state of California against business owners. State Senator John Moorlach of Costa Mesa, CA says that his bill, SB 1142, would provide property owners and businesses with the “right to cure” within 120 days of any Americans with Disabilities Act violation, thereby allowing the business to make changes without incurring a penalty or being threatened with litigation.

The bill would states that a business owner is not liable for statutory damages, costs, or plaintiffs’ attorneys’ fees if the violation is corrected within 120 days of the service of a demand letter. Currently California law allows a plaintiff to collect statutory damages in a construction-related accessibility claim against a place of public accommodation “only if a violation of a construction-related accessibility standard denied the plaintiff full and equal access to the place of public accommodation on a particular occasion, as specified.” In addition, a business owner’s liability for statutory damages in a construction-related accessibility claim against a place of public accommodation is reduced to a minimum of:

$1,000 for each offense, provided the defendant demonstrates that it has corrected all construction-related violations that are the basis of a claim within 60 days of being served with the complaint and meets certain requirements; or


A minimum of $2,000 for each offense if the defendant has corrected al construction-related violations that are the basis of a claim within 30 days of being served with the complaint and is a small business.

Moorlach says that rental property owners are typically targeted and the result is the loss of thousands of dollars for minor or technical ADA violations. The bill would serve as a deterrent to frivolous litigation that seek to take advantage of statutory damages for minor violations that have not caused any harm.

In addition to SB 1142, Assemblywoman Kristin Olsen, R-Modesto and Senator Richard Roth, D-Riverside have also proposed legislation in the current session aimed at curbing abusive ADA lawsuits.

“This is the first time that the Legislature as a whole is really recognizing that abusive ADA lawsuits exist, and that there are lawsuits that are more about money than justice,” remarked Kim Stone, the president of the California Civil Justice Association, in The Modesto Bee.

For more on this legislation, managing a business, and valuable information on buying and selling a business in the Sacramento area, please visit our websiteServices and choose from the drop down menu the information you’d like.

For more immediate help, please send an email to Andrew Rogerson or call our office at (916) 570-2674.

The post Proposed Legislation to Fix ADA Violations appeared first on Rogerson Business Services by Andrew Rogerson.

Employee Retention Strategies

If employees are a company’s greatest asset, great companies must know how to manage those assets with the same effectiveness as handling their capital. An engaged and satisfied employee is one who will stay around longer, saving the company a huge amount in training and turnover.

Dinner on Google

The tech giant is known for its creative and innovative work environment. Following Maslow’s Hierarchy, Google feeds its employees lunch and dinner, opening them up to be more imaginative as their basic needs for food are met. As a retention strategy, this one is geared toward the young, single worker who does not need to go home to a family meal. Google makes it so that the employee has everything they need right there at work.

Scripps Builds The Brain

A brilliant employee is a tangible commodity. That is one of the reasons Scripps offers tuition reimbursement for its staff. The company pays for textbooks and any tuition fees plus up to $1,500 annually toward college classes or CEUs. This is not enough to get a student through a degree but books are expensive and this perk goes a long way.

AOL Takes Care of the Family

Even small businesses can be compassionate to the changes that happen when a baby is born. AOL understands this and offers generous benefits including eight weeks paid maternity leave and on-site babysitting services. Being mindful of a healthy work-family balance, one of the strongest company retention strategies your business can adopt.

Become a Fitness Dealer

Auto industry leader Dealer.com wants their 800+ employees to stay healthy and fit. To do this, they maintain an on-site fitness center as well as health-food office services. Many small business can boost employee retention by offering gym memberships. One of the extra benefits of the membership is that gym classes help to build camaraderie and engagement in teamwork.

A Cup of Profit Sharing

From the moment that people start at Starbucks, they become partners in the company. The bean colossus offers a wide range of benefits, touting the ability of the employee to blend their own benefit package in the same way that they blend their unique drinks. At the top of this retention package is profit sharing in the company’s stocks. For any company, sharing the profit generally results in sharing the company’s mission and passion.

A Sample of the Product

Both Timberland and Smucker’s give employees a heavy discount on their products. Smucker’s even sends a gift basket with a sample of jams and jellies to new employees. This does more than offer a smile. Giving discounts and products engages the employee to sample the company’s mission in its products. Even small companies can offer its products and services without cutting into net income since there is not cash outlay for this perk.

Work From Home

Let employees work from home. Some of the benefits include reduction in office costs, larger recruiting base, and increased employee creativity. Of course, for the newest generation of workers, this is a key factor in retention. American Express understands this and lets much of its staff use virtual offices.

Are you thinking about selling your business? Would you like to know the value of your business? If you would like more information please visit my website Business valuation.

For more immediate help you are welcome to send an email to Andrew Rogerson or give me a call on 916 570-2674.

The post Employee Retention Strategies appeared first on Rogerson Business Services by Andrew Rogerson.

Help Selling Your Tech Business

There are quite a few reasons for a tech company to consider an exit from business. These include exhausted founders, anxious investors, consolidation within the industry, or wildly unanticipated success. When those running the company consider the possibility of an exit, there will be numerous issues and questions to address concerning how to go about it. Let’s examine some thoughts on your approach, the sales process, and your strategy.

1. Set realistic expectations for your asking price.

First, the company should seek an honest valuation from an experienced valuation expert. With this in hand, you can set realistic expectations early in the process. A business broker and valuation expert will help you with industry due diligence and to present a clear, strong position moving forward throughout the process. This will help you to avoid morale issues and keep everyone focused on their tasks while the sale is ongoing. It entails discussing the best and worst case pricing scenarios with all of the interested players, such as management and investors. A Sacramento business valuation expert will tell you that pricing expectations should be based on factors such as: recent acquisition and valuation activity in the space; the perceived value of the team, particularly technology staff; and the prospect of outsized demand. As far as demand, your business broker will investigate the potential for interest from larger corporations or whether such interest can be generated.

2. Stage your company (as well as yourself).

Make certain that your company is in sound condition prior to presenting it to prospective buyers, and the due-diligence requests starts. Financial statements should be current. Also, if your company is backed by venture capital, it should be audited to ensure that transactions are correctly recorded and you are in compliance with standard Generally Accepted Accounting Principles (GAAP). You should also document and verify all files on your employee hiring, such as at-will work agreements, confidentiality and non-compete agreements, and any equity, options, or vesting agreements. Also make note of any agreements with terms which are extremely favorable to customers or strategic partners, like “most favored nation” pricing.

3. Understand the effect of funding choices.

There are a variety of goals and requirements for different participants. For example, traditional growth-capital investors typically are more farsighted in weighing when they might exit, and growth capitalists must answer to limited partners—many of whom are institutional investors who expect their funding to be locked up for a long time. And smaller investors frequently have more conservative timelines.

4. Leverage a greater group of potential acquirers.

Potential purchasers, in addition to the tech biggies, may now include local and national companies in industries like advertising, healthcare, and insurance. These types of companies are getting interested in acquiring tech companies, both for their products and for added creativity.

5. Leverage your advisers early.

The decision to hire an investment banker can be tricky, but some bankers with specific knowledge and experience can really help with a sale. However, many will work only on major deals, like those with $10 million in earnings before interest, taxes, depreciation and amortization (EBITDA) or $50 million in value. Thus, locating a banker with industry experience and a strong network isn’t an easy task. It usually requires the help of a business broker with extensive connections. Your Sacramento business expert will have experience dealing with the all aspects of investors, acquirers, employees, and founders. He will be comfortable and have knowledge of typical deal structures. Get your business broker involved early in your discussions, so that you have their counsel when the larger issues need to be sorted out.

Every exit process is different, and working with a Sacramento business broker to better understand the process will increase your odds of making a deal with which you’ll be very happy.

Access our materials on business succession planning and the opportunities to sell your business in the Sacramento area at our website Services. Select the information you’d like from the drop down menu. You can also send an email to Andrew Rogerson or call our office at (916) 570-2674.

The post Help Selling Your Tech Business appeared first on Sacramento Ca Business Broker | Rogerson Business Services by Andrew Rogerson.

Help when Selling Your Tech Business

There are quite a few reasons for a tech company to consider an exit from business. These include exhausted founders, anxious investors, consolidation within the industry, or wildly unanticipated success. When those running the company consider the possibility of an exit, there will be numerous issues and questions to address concerning how to go about it. Let’s examine some thoughts on your approach, the sales process, and your strategy.

1. Set realistic expectations for your asking price.

First, the company should seek an honest valuation from an experienced valuation expert. With this in hand, you can set realistic expectations early in the process. A business broker and valuation expert will help you with industry due diligence and to present a clear, strong position moving forward throughout the process. This will help you to avoid morale issues and keep everyone focused on their tasks while the sale is ongoing. It entails discussing the best and worst case pricing scenarios with all of the interested players, such as management and investors. A Sacramento business valuation expert will tell you that pricing expectations should be based on factors such as: recent acquisition and valuation activity in the space; the perceived value of the team, particularly technology staff; and the prospect of outsized demand. As far as demand, your business broker will investigate the potential for interest from larger corporations or whether such interest can be generated.

2. Stage your company (as well as yourself).

Make certain that your company is in sound condition prior to presenting it to prospective buyers, and the due-diligence requests starts. Financial statements should be current. Also, if your company is backed by venture capital, it should be audited to ensure that transactions are correctly recorded and you are in compliance with standard Generally Accepted Accounting Principles (GAAP). You should also document and verify all files on your employee hiring, such as at-will work agreements, confidentiality and non-compete agreements, and any equity, options, or vesting agreements. Also make note of any agreements with terms which are extremely favorable to customers or strategic partners, like “most favored nation” pricing.

3. Understand the effect of funding choices.

There are a variety of goals and requirements for different participants. For example, traditional growth-capital investors typically are more farsighted in weighing when they might exit, and growth capitalists must answer to limited partners—many of whom are institutional investors who expect their funding to be locked up for a long time. And smaller investors frequently have more conservative timelines.

4. Leverage a greater group of potential acquirers.

Potential purchasers, in addition to the tech biggies, may now include local and national companies in industries like advertising, healthcare, and insurance. These types of companies are getting interested in acquiring tech companies, both for their products and for added creativity.

5. Leverage your advisers early.

The decision to hire an investment banker can be tricky, but some bankers with specific knowledge and experience can really help with a sale. However, many will work only on major deals, like those with $10 million in earnings before interest, taxes, depreciation and amortization (EBITDA) or $50 million in value. Thus, locating a banker with industry experience and a strong network isn’t an easy task. It usually requires the help of a business broker with extensive connections. Your Sacramento business expert will have experience dealing with the all aspects of investors, acquirers, employees, and founders. He will be comfortable and have knowledge of typical deal structures. Get your business broker involved early in your discussions, so that you have their counsel when the larger issues need to be sorted out.

Every exit process is different, and working with a Sacramento business broker to better understand the process will increase your odds of making a deal with which you’ll be very happy.

Access our materials on business succession planning and the opportunities to sell your business in the Sacramento area at our website Services. Select the information you’d like from the drop down menu. You can also send an email to Andrew Rogerson or call our office at (916) 570-2674.

The post Help when Selling Your Tech Business appeared first on Rogerson Business Services by Andrew Rogerson.

Selling Your Urgent Care Clinic

Like many other types of medical practices, there are several types of buyers who may be interested in purchasing an Urgent Care Clinic. There are three main groups who are interested in buying a clinic. Let’s take a look at each one in detail.

National and Regional Aggregators.

Consolidation was widespread last year, with some well-known corporations gathering up many clinics spread over multiple regions of the country. National and regional aggregators are driving increased activity in mergers and acquisitions, and these major players have collected larger mid-sized medical practice companies, like those with several dozen clinics in their system. However, these aggregators have few opportunities remaining in the 10-30 clinic organizations range, so they now are concentrating on 5-10 clinic groups to fill in gaps in their coverage areas or to increase their geographic presence.

Private Equity Investors.

Private equity groups continue to see the financial opportunity of urgent care clinics. These groups have supplied capital to help facilitate vertical integration of existing medical practices with urgent care services. This type of move expands a practice’s available services and increases its value. Private equity investors believe that it’s a seller’s market, and that it’s here to stay for a while. This consolidation process, investors contend, is likely to continue for at least another 10 years, perhaps longer. With that in mind, private equity investors may focus on smaller groups with 1-3 clinics with the goal of aggregating them into a larger 5 to 10-clinic organization to set themselves up to be purchased by a national aggregators. These investors may also be looking to create a regional system in an under-serviced area to meet increased consumer demand.

Health and Hospital Systems.

Lastly, health and hospital systems are making acquisitions of urgent care clinics. These systems want to improve their coverage area, maintain brand recognition with the consumers, drive patients to their facilities, and, of course, up their bottom line. Health Systems are looking for successful urgent care owners to acquire operational expertise and management skills, as they expand their footprint geographically or attempt to cut costs by working at a larger commercial scale.

Valuations are high and profitability based on the fact that the Affordable Care Act is bringing in millions of newly insured clients every year, and the demand for urgent care continues to increase. Urgent care facilities typically provide many of the same services that patients might find in an emergency facility at around 10 to 50% of the cost. New urgent care clinics continue to increase in number due to limited regulation and low requirements to enter the field. These all-time high valuation levels attract buyers from insurance payors, health systems, private equity, big operators, and other segments of the healthcare industry.

Regardless of the type of buyer, purchasers are looking for well-developed profitability and a strong element of potential growth. For example, if your clinic has opportunities for new initiatives, lowering costs, or reducing staffing expenses, it may improve its perceived value. Likewise, if you have steady referrals, targeted marketing programs, and other strategies that evidence reliable income, buyers need to know about it.

Your primary task in this process is preparation. Make certain that your clinic is in tip top condition and express your ideas for ways to expand your services to further demonstrate the potential for growth. Buyers will want to see that financial potential. That’s why teaming up with an experienced business broker like Andrew Rogerson can help you prepare for an effective sale of your practice.

To discuss selling your medical practice in the Sacramento area, visit our website Services and choose from the drop down menu the information you’d like.

For more immediate help, please send an email to Andrew or call our office at (916) 570-2674.

The post Selling Your Urgent Care Clinic appeared first on Rogerson Business Services by Andrew Rogerson.

Unique Ways to Reduce Your Retail Business Expenses

According to the Michigan Retailers Association, expenses — not sales volume — make or break a store’s profitability. But reducing expenses in an already lean-running business can be daunting and may be difficult to put into practice.

While it may be impossible to reduce your rent or inventory expenses, there are ways to save thousands that extend beyond getting rid of perks, like employee lunches.

Unique Ways to Reduce Your Retail Business Expenses

Here’s a look at how you can reduce expenses from your retail business to widen your profit margin.

Convert an iPad Into a Cash Register

Ditch the costs of a traditional cash register and convert your iPad Mini into a mobile point-of-sale system instead. Use a service like Square and download the Register app. Next, plug in the hardware to start taking payments immediately. Your new iPad POS is also ready to accept chip cards and easily swivels for customers to sign.

And, if you run a mobile business and want something to take on the go, use the Square magstripe reader to swipe credit cards. You’ll also receive in-depth reports and analytics to see what’s selling and get a better understanding of overall customer trends.

Negotiate Shipping

Unless you sign an exclusive contract with a shipping company, you’re under no obligation to use the same outfit for all your needs. Instead, negotiate with multiple shipping companies that are likely to look favorably at high volume. Doing your homework and comparing pricing with competitors can also help. Remember to research regional shipping companies that are likely to undercut their big-name competitors and work out better terms that suit your needs.

Advertise and Market Yourself for Free

A competitive advertising budget can be out of reach for most independent retailers. Instead, get creative and partner with a company that might be interested in swapping advertising. For example, a retailer specializing in eyeglasses can leave fliers with a jewelry store and vice versa. Make arrangements to include an advertisement in each other’s email list or on your website.

Upgrade Your Security

Upgrading your security may cost you a little upfront, but could save you a bundle on the back end. According to the National Retail Security Survey, unforeseen inventory shortages cost retailers $44 billion in losses, including shoplifting and internal theft.

To safeguard your business, install security cameras, update your staff on new security procedures and put up signage alerting potential customers they are being recorded and will be prosecuted to the fullest extent of the law. Establish off the bat that your business is not tolerant of theft to retain your inventory and profits.

Open a Pop-Up Store

Can’t afford to open a second location or still waiting on a loan to open your flagship store? Set up a pop-up shop, either at a temporary retail space or weekly flea market, to sell your goods. Remember: Trucks aren’t just for food vendors anymore. You can open your own mobile fashion business, portable flower store or record store from the back of a converted truck or bus. For an added bonus, include some signage to help bring presence to your brand.

If you would like more information about selling a business, buying a business, buying a franchise or a related service such as valuing a business, please visit my webpage Services and choose from the drop down menu the information you would like.

For more immediate help, you are welcome to send an email to Andrew Rogerson or give me a call on 916 570-2674.

The post Unique Ways to Reduce Your Retail Business Expenses appeared first on Rogerson Business Services by Andrew Rogerson.

Are You Relocating Your Business?

At some point, many entrepreneurs entertain the thought of picking up and moving their business. Whether it’s  hoping to lower expenses, tap into a better workforce, increase sales or improve overall quality of life, relocating your business can be an exciting change.

However, there are certain stipulations you should keep in mind if you’re considering moving your business. Read on to learn more.

Count the Cost

Aside from the cost of the actual physical move (moving trucks, hiring movers, hauling furniture and equipment), the cost of living varies greatly from city to city. For example, New York’s cost of living is over double the national average, while living in Arkansas, Tennessee or Mississippi will be dramatically less.

Further, be sure to figure in whether the area is able to meet your needs or if your product or service may be better suited to a demographically different location. And experts suggest getting thorough in your research prior to making a decision. Resources like the periodical American Demographics as well as local chambers of commerce are a good starting ground.

They say you should be sure to consult real estate brokers, employment agencies and other business owners to get their take and compare your options.

Finding Talent

Finding good talent is tough. And chances are not every employee will be on board with moving with you (particularly if you don’t offer reimbursement for relocation expenses). Experts suggest starting the process before you move. One way to save time and money is to make pre-screens via video chat an element of your recruiting process.

Also, leveraging networks like LinkedIn can help you find the type of candidate you’re looking for. It may also be worthwhile to host a recruiting fair in your new city to find top talent in the area. You can do this at your new office or a nearby conference area. This way you can really get to know candidates in person.

Culture Change

Another piece to consider when moving to a different area is to manage your new employees’ expectations. It can be a different way of life in different areas of the country –  so there will more than likely be an adjustment period for you.  For example, those in Boston are generally used to putting in long hours, where employees in the tech capital of Silicon Valley are more likely to expect to be catered to –  literally –  with full refrigerators and paid-for lunches and more work-life balance.

Keep People Updated

In the months and weeks prior to your move, it is a good idea (and common courtesy) to keep your employees and locals abreast of your plans. A good internal and external communications plan is key, as a move can be difficult for some of your workers. Keeping a schedule of moving plans in a common area and on your intranet will ensure people are as informed as possible and help you keep your business operating smoothly during your transition.

Further, a press release to the local community may be necessary – and a good idea. If you don’t have an internal PR team, you can always release one via one of the many online services or hire a temporary PR agency. It’s also a good idea to release one in the city you are moving to so that the public will be aware of your upcoming presence in the community.

Keep It Secure

Though many people look for ways to cut costs when moving, one place you absolutely should not is in security. A vital piece to any new business (or business moving to a new location) is to ensure your property is secure. Outfitting your business with high-quality security cameras and a security system is all but a necessity in today’s day and age. Security systems keep your business safe and give you peace of mind with a wide variety of options to fit your needs.

Though there is a lot to take into consideration, making a business move can be a great way to take your company to the next level. Good luck!

Are you thinking about selling your business and relocating? Would you like to know the value of your business? If you would like more information please visit my website Business valuation.

For more immediate help you are welcome to send an email to Andrew Rogerson or give me a call on 916 570-2674.

The post Are You Relocating Your Business? appeared first on Rogerson Business Services by Andrew Rogerson.

How to Secure a Loan to Buy a Franchise

There are several tasks that should be accomplished prior to setting out to tackle the complex task of buying a franchise.

First, you’ll want to check your current credit score if you haven’t done so already. With a solid credit score, you can move forward and make an application for a small business loan. A common way to go about this is through the Small Business Administration’s 7(a) loan program. Interestingly, the SBA 7(a) program doesn’t directly loan money to businesses.

Interestingly, the SBA guarantees only a part of the loaned amount, which can be anywhere from $5,000 to $5 million with a prime 2.75% interest rate over the course of 7 to 10 years. Collateral is determined by your credit worthiness and the loan amount that is requested.

The SBA will thoroughly review the franchisor to ensure that he or she satisfies each of the SBA’s lending guidelines. Typically, the SBA does not look unfavorably upon franchisors who exert strict controls on the franchisee. Don’t expect to receive 100% financing, even with a perfect credit score and every “I” dotted and “T” crossed.

Another option is a home equity loan, using your home is used as collateral. This has several benefits, such as a low cost, quick turnaround, and usually low interest rates. The lender will calculate the loan-to-value ratio—the amount you owe minus your equity. You can also apply for an unsecured loans. Equipment is used as collateral, and these loans almost always have higher interest rates. Another way to go is security-backed lending, where CDs, stocks, bonds, and other securities are put up as collateral. Up to 70% of the security value can be loaned, and typically at a low interest rate and a pretty fast processing time.

Another alternative is a 401(k)-IRA Rollover Plan. Your franchise get going with retirement funds instead of some other type of loan. It usually takes a few weeks to process, but the nice thing is that there are no taxes, penalties, or debt. That can be worth the trouble.

Finally, funding can be used as an “investment” as opposed to a loan, which allows you to be able to see a profit much more quickly. This funding approach won’t affect the debt ratio or credit rating, and several exit strategies and tax benefits are included. Plus, you can receive a salary. This type of lending product was designed to help bridge the financial funding gap between SBA funding and other funding options.

Every franchisee requires a tailored and specific analysis to find the best funding options. It can be a very complex process and requires the experience of a professional business broker like Andrew Rogerson, who is able to work directly with franchise lenders. Start this process early so you can perform your due diligence to make an informed and educated financial decision.

Don’t be afraid to ask for help, to ask questions, and be prepared. Your franchise will be that much farther ahead. Andrew is very happy to help you with your franchise. To discuss franchise financing issues and to explore franchise opportunities in the Sacramento area, please visit our websiteServices for additional information. Or you can send an email to Andrew or call him at (916) 570-2674.

The post How to Secure a Loan to Buy a Franchise appeared first on Rogerson Business Services by Andrew Rogerson.

“Boring” Secrets Buying a Business

One of the most fundamental career choices for an individual to consider is whether you want to work for someone else or work for yourself. But working for yourself sounds a bit like starting your own business. This thought makes some folks queasy, seems pretty feels risky, and requires an excellent business idea, which you may not have at the drop of a hat. However, there is a Door Number Three: purchasing an existing business immediately and putting yourself in charge.

Termed “entrepreneurs through acquisition,” these business purchasers always look for businesses with enduring profitability. These are businesses that are more apt to have a stable income over time. In addition, they’re attractive to the lenders and investors who will provide funds for your acquisition. OK, these aren’t sexy fast-growth tech companies that make headlines on all the TV business channels. They’re companies that have two characteristics which may make them appear to be “boring” and dull—but in reality, these characteristics actually make them enduringly profitable.

1. Recurring customers.

The main essential component of enduringly profitable smaller businesses is not a rapidly expanding customer base. Instead it’s that they have recurring customers who form a very loyal and strong customer base. These types of companies have the ability to attract and maintain the right customers—those customers who value the company’s products and services and will continue to purchase them year after year.

2. Slow Growth.

Although astronomical growth makes headlines in the business journals, it’s accompanied by high risk. High growth results in new customers outnumbering the existing ones. These new customers may not be loyal to your brand or to the company. These new customers may have new demands and cause disruptions or changes to your business workflow. In addition, those headlines of your astronomical growth will also attract competition, looking to take advantage of the expanded market and the opportunities you’ve created. But low growth means low risk, which is important when it’s your money at stake. The pace is slower with an established business that grows more slowly, and you’ll have time to know your customers and forge lasting relationships with them. They’ll tell you what it is they value, which will help you with your future business strategies. Slow growth pays the rent and makes payroll month after month. Boring? Sure, but your sleep a lot more soundly knowing that you’re being steadily successful in the long run.

Running your own company lets you to lead an organization, make impactful decisions, and enjoy the flexibility that allows you to work in a way that best fits your needs. By purchasing an enduringly profitable, slowly growing firm, you can combine the opportunity for professional independence with the stability of buying an established and profitable small business.

You’ll have many questions to ask when you’re buying a business. Working with a qualified business broker will pay dividends. Your business valuation consultant will help you to review the documents, the business climate, and the industry, so that you make a wise decision that will build your business for the future.

To find out more about business buying opportunities in the Sacramento area, please visit our website Services and choose from the drop down menu the information you’d like.

For more immediate help, please send an email to Andrew Rogerson or call our office at (916) 570-2674.

The post “Boring” Secrets Buying a Business appeared first on Rogerson Business Services by Andrew Rogerson.

Brands That Stay Relevant in a Changing World

It’s difficult to see large corporations as they once were, small start-ups that few people thought had a chance for success. However, every company started somewhere, and most that changed the world took serious risks before they solidified as the business we now know. But how did iconic companies — Apple and Goodyear — go from start-up to super power? Here’s a look at how they rose and stayed at the top of industries that constantly change.

Apple

Apple started in 1976 when Steve Jobs and Steve Wozniak set up the business in Jobs’ garage. Their first order was from the Byte Shop, which was the only computer store chain in the United States at the time. Despite a financial crunch and working long hours to produce 50 units for the Byte Shop, Jobs and Wozniak met the deadline on time. Within a year they would secure hundreds of thousands of dollars in investments, venture capital and bank loans.

However, by 1985 Jobs was forced out of the company he had helped found, and by 1989 Apple was in decline. Without Jobs at the helm, the company launched a series of unsuccessful consumer products that further led to Apple’s decline.

In 1996 then CEO of Apple, Gil Amelio brought Jobs back, and after Amelio himself stepped down from the CEO position, Steve Jobs was named interim replacement. In 1998 the iMac was released, returning the company’s profitability and standing as an innovative leader.

Three years later, Jobs and Apple released another product that changed the world — the first iPod. Jobs used cunning marketing that put focus on Apple products being nonconformist. iMac and Apple product users were seen as entrepreneurial and self-motivators — and to this day, five years after Jobs’ death, Apple still holds to its core of innovation and nonconformist roots.

Goodyear

Goodyear’s history started way back in 1898, when Frank Seiberling borrowed $3,500 from his brother-in-law. He used this loan to buy an abandoned strawboard factory. The Wingfoot trademark was first used in the Saturday Evening Post in 1901, and by 1907 Henry Ford purchased 1,200 sets of Goodyear tires for the Ford Model-T. Goodyear then went on to found the first cross-country truck line from Akron to Boston in 1917, nicknamed the Wingfoot Express.

In the years that followed, Goodyear — much as Apple has done in the late 20th and early 21st century — continued to innovate and manufacture better, more useful products for consumers. In 1947 Goodyear developed the first nylon tire, and with the continued advance of technology, the innovations continued, as did the long tradition of the Goodyear Blimp, which first took flight in 1912, and is still an iconic marketing symbol in the United States.

More recently, Goodyear has worked with NASA in the development of airless tires, known as Spring Tires, for the Mars Rover and expeditions to the moon. Today with annual sales of more than $15 billion, people can purchase Goodyear tires online as well as in stores all across the globe.

Brands That Stay Relevant in a Changing World

Both these companies started small, both by ambitious men. Goodyear is a multi-generational company that has truly stood the test of time and has adapted to the needs of the common consumer, as well as the specialized institution.

Apple, on the other hand, proves itself every day. While it hasn’t been as steadfast in longevity — indeed, having faced likely bankruptcy in its darkest hour — there is perhaps no other company that has changed the world in recent years more than the company with its humble beginnings in one man’s garage.

Have you taken your brand as far as it can go? Are you thinking about selling your business and move to your next challenge? Would you like to know the value of your business? If you would like more information please visit my website Business valuation.

For more immediate help you are welcome to send an email to Andrew Rogerson or give me a call on 916 570-2674.

The post Brands That Stay Relevant in a Changing World appeared first on Rogerson Business Services by Andrew Rogerson.