At Gilman, Pope, Scribner & Robles, we are fully aware of the fact that the majority of businesses do not generate the levels of revenue or profit that fall within the scope of the services offered through our standard practice. However, we also realize that the marketplace in which companies generate gross revenue under Two Million Dollars is a very vibrant and active source of innovation and employment and one that is deserving of serious attention.
To address this marketplace, Gilman, Pope has developed GP Main Street. By doing so, Gilman, Pope is now able to provide services similar to those offered larger companies but at a much more affordable rate. Most importantly, this is an area in which Gilman, Pope is extremely familiar. When first starting out in the field of assisting owners of private companies sell their businesses, the primary focus of clients served fell within this range of businesses. During the early years, Gilman, Pope sold the spectrum of smaller businesses; from restaurants to dry cleaners to liquor stores to personnel agencies to any other number of service companies and retailers. Basically, it is where Gilman, Pope cut its teeth in the business of ownership transfers.
|Now, obviously, this knowledge does not simply disappear. In fact, the majority of the lessons learned in those early years with smaller companies has carried through to the present day and apply to all companies, regardless of size or industry. As a result, Gilman, Pope is extremely comfortable in providing services to this segment of the market.
What follows are the services offered under the GP Main Street banner which are only available to companies that fall below annual revenue of $1 million.
When you are discussing your company with interested parties, it is very important to provide them with a clear picture of your company, the manner in which it operates and its place in the market. While not as comprehensive as a Corporate Overview, it is a very flexible document that can be written to highlight the beneficial aspects of your business while also providing the basic information any potential buyer would require. The purpose and goal of the Business Overview is not to “sell” the business but to create a level of interest that demands further time and investigation by the possible buyer. Some of the items that are typically addressed are:
|Background of the Company
|Products or Services Offered
|Establishment’s size, lease arrangements and capacity.
|Employees and background.
|Customers of the business.
|Competition and proximity.
|Any additional important aspects not addressed above.
Gilman, Pope will work with you and your accountant to determine the appropriate Market Value of your Company. While in many cases there will exist industry standards for valuation, there are many additional factors to examine before arriving at the price for which your business will be offered.
|As is the case with the majority of smaller companies, great efforts are made to minimize the tax impact the business owner must face. While that may serve a business owner’s requirements the majority of the time, it does not serve the owner well when the time comes to sell the business and achieve the greatest value possible. As a result, it is often necessary to examine the financial statements and make the appropriate adjustments to insure your
|business is presented in its most favorable light. Without such adjustments, your company could be significantly undervalued resulting in lost profits. Obviously, with more than 25 years of experience, Gilman, Pope has reviewed thousands of financial statements and can assist owners in the process of recasting the financial statements appropriately.
This is where Gilman, Pope’s experience can be of even greater value. As I am sure you are well aware, there exist a very large number of issues to be addressed in the process of selling your company. While pricing and training may be very obvious, some of the other issues you will need to address relate to Non-compete Agreements, Allocation of the Purchase Price, Inventory Valuation and the Deal Structure to name just a few. On top of this, simply the process of negotiating the transaction can be quite complicated and frustrating. As part of the GP Main Street Program, Gilman, Pope provides you with up to 20 hours of telephonic support for the four month period following your enrollment in the program. You can use this as you like. You may want some assistance dealing with the landlord of your lease, no problem. Help with the escrow process, sure thing. Discussions with your accountant or attorney regarding the taxes or legal issues, bring them on. Even intervention with the Buyers, we will be there for you. It’s your time to use.
Prior to utilizing the services provided by Gilman, Pope, Scribner & Robles, please take the time necessary to review and understand our “Terms of Service.” Once you have done so and chose to move forward, please follow the instructions below:
To begin the process of providing the services listed above, the payment in the amount of $595 is required. Simply mail a check to Gilman, Pope, Scribner & Robles at 23 Corporate Plaza Drive, Suite 150, Newport Beach, CA 92660.