In This Issue
Skill and Tenacity
Although I am not a huge basketball fan, on June 28, 2016 the world of sports lost a true titan upon the passing of Pat Summitt, the legendary women’s basketball coach at the University of Tennessee. Pat died at the relatively young age of 64 as a result of dementia. Even though her coaching career was cut short as a result of her illness, she holds the record for the most basketball victories, (1,098), for either a man or a woman.
It would not be unreasonable for you to ask, “Although interesting, what does a commentary about a successful basketball coach have to do with business transfers?” I brought up Pat Summitt because she had two things in common with most successful business owners — skill and tenacity. It takes skill to coach a successful basketball team in a highly competitive environment, much like it takes skill to create and manage a business in our competitive global economy. Similarly, it takes tenacity to amass the amount of victories that Pat Summitt accumulated over decades of coaching. She was in coaching for the long haul; similar to business owners that birth a business on a kitchen table or in a garage, then nurture its growth over many years to pay off debt, build working capital, provide income for their employees, and, hopefully, fund a comfortable retirement.
On a different note, business acquisition activity in Colorado remains robust. We are seeing positive economic data from our clients and, due to the strength of the Colorado economy, Colorado remains a favorite location for financial buyers, such as Private Equity Groups, to invest. A growing economy, strong buyer demand, and the availability of low cost acquisition capital combine to create a strong business transfer market.
One final thought. There is a third item that Pat Summitt had in common with business owners. We are all human and at some time our careers will end in one way or another. To the extent possible, plan your career so that you can enjoy life and your family.
The majority of our business is derived from referrals. Please consider referring our services if you encounter a situation involving the potential purchase or sale of a business.
Ronald V. Chernak
Inspiring business relationships since 1982!
Commercial Electrical Contractor #1016
This well-established commercial electrical contractor designs and builds electrical projects for general contractors, architects, and end users. The company also performs maintenance and service work and offers low voltage installation solutions. There are currently 38 electricians on staff and about $9 million of future projects scheduled over the next two years. The company offers excellent customer service with low employee turnover. A comprehensive training program is available for apprentice electricians, giving them a strong competitive edge in the industry.
For more information,
contact Ken Galecki
B2B Service Business #2714
In business for 30+ years, this company is a local leader in its industry. It serves a diversified customer base and is well-known and appreciated for its rapid turn-around, detailed production monitoring, problem solving, technological assistance, and quality final product. History of increasing sales and profits. As the business is relatively simple to operate, we believe it would make good acquisition target for a first time buyer.
For more information,
contact Kim Hoyal
Unique Logistics Businesses #216 & 316
These businesses specialize in services provided to municipalities, schools, institutions, and businesses. Services include the handling of furniture, storage, and relocation needs, to include sales, new installations, configurations, tenant finish, comprehensive project management, shelving, warehousing, delivery, inventory, and design. Projects, although primarily in Colorado, take place throughout the Western United States. 2016 January – June Total Income of $2,288,424; SDE for the same period of $416,140 – both up significantly over the same period in 2015.