Vancouver Sun on Boomers Preparing to Sell their Businesses

Harvey Enchin of the Vancouver Sun did a story on the fact that boomer business owners say they want to retire in the next three to five years, which means selling their businesses but they have not prepared their companies to get the highest valuation. Here’s the story. http://www.canada.com/vancouversun/columnists/story.html?id=c9388f05-f1c7-4960-812f-b6c8b15b454a Why do you think business owners are not doing adequate preparation to make their businesses attractive to sell? Add a comment below.

Spirit West CEO interviewed by News1130

Russ Bythe from News1130 Interviewed Lorraine Rieger McGregor, CEO of Spirit West Management on why business owners need to do valuation planning, to get their companies the highest valuation possible 2-3 years before they think of selling. Listen to the radio interview here

Spirit West CEO on Raymond James’ Radio Show “It’s Your Money”

Lorraine Rieger McGregor was interviewed by the “It’s Your Money” radio hosts, Raymond James’ Randy West and Gregg Collier for WLBE AM790.

 

Lorraine Rieger McGregor was interviewed by the “It’s Your Money” radio hosts, Raymond James’ Randy West and Gregg Collier for WLBE AM790.

The 25 minute show on how business owners can adequately prepare the business for the highest valuation focused on the fact that with the baby boomer boomer bulge nearing retirement, the number of businesses coming up for sale is set to increase by 100%.

This fact means those company owners wanting to sell or transition ownership will have to do a lot more than just “paint and install granite counters” to find an investor willing to buy them out or a lender able to bankroll a management buy out.

click the icon at the top of this article to play the radio show

Spirit West Management Launches Seminar Aimed at Baby Boomer Business Owners

FOR IMMEDIATE RELEASE

Spirit West Management Launches Seminar Aimed at Baby Boomer Business Owners -

Will they get what they think the company is worth when its time to cash out?

July 14th, 2008–

There are 17 million businesses in the US and 1.7 million in Canada according to Dun and Bradstreet. 50% of them are owned by Baby Boomers. 7 out of 10 of these owners will want to sell their business over the next 10 years, according to the Association for Mergers and Acquisitions Advisors. The supply of offerings will continue to grow substantially.

According to anecdotal evidence from investment bankers and private equity investors, business owners are unaware of the work that must be done to prepare to sell their company. They have unrealistic expectations and have not done the preparation necessary to reorganize the company so it can operate and grow under professional management.

To help baby boomers adequately prepare for the day they do want to sell to investors, employees or other companies, Spirit West Management is offering a one day workshop on how to restructure a company so that it is exactly what investors look for. “How to Maximize Your Company’s Worth: The CEO’s Guide to Becoming Prepared for Investment” will teach owners how to see their company through the eyes of investors and lenders.

“A company might be operating just fine under owner management, but will it continue to operate successfully when the owner leaves?” says Lorraine Rieger McGregor, CEO of Spirit West Management. “There are many hidden issues that an investor sees and for every one that doesn’t have a solution, the value of that company is reduced. It can be a very humbling experience for business owners to come to this time in their life and think that they can sell in the next six months. It just doesn’t happen like that. Restructuring can take 2 or 3 years depending on the issues we are dealing with. Owners need to take the time to get the right advisors and consultants to help them get prepared for this investment transition.”

The one day seminar, open to company owners that did at least $7 million in revenue last year, will be held March 19, 2009 at the EagleQuest Coyote Creek Golf Club in Surrey, BC. Owners will have the opportunity to get a reality check on the state of their business, hear from other owners who are selling or who have sold, meet private equity investors and strategic buyers as well as learn the ins and outs of the mergers and acquisitions process.

Read More Information on the seminar

For Contact:

Lorraine Rieger McGregor

Spirit West Management, Ltd
events@spiritwest.com or Tel: 604-306-7707