We speak your language
Yes, we’re accountants. But we’re also business owners. In fact, BSH principals have successfully purchased, managed, grown, and sold other small businesses, too, so we are right at home talking profit improvement and competitive advantage with you. And because we’ve worked with hundreds of small businesses, we can recommend financial strategies that work consistently well and steer you away from those that don’t.
Case Study: Business Turnaround, 2001-2006
The sole owner of an office equipment business died unexpectedly. The owner’s executor and heirs lived out of state and had no interest in taking over the business. The family almost lost the business after trying to sell it for 18 months.
We met with key employees of the business and determined that the accounting records were in disarray, which, along with a lack of strong management, scared off potential buyers. We also realized that the business needed to be restructured to improve its market share before it could be sold at peak value. We recruited and hired a general manager, sales manager, and service manager to replace the interim management and turned the company around. We relocated the office and rebranded the company to go head-to-head with its principal competitor – a billion-dollar, multi-national company. We advised the company at every level of operation while navigating through difficult economic times after the September 11 attacks.
Within a few short years, buyers were competing for the right to purchase the business, and we negotiated a multi-million dollar all-cash sales price. The owner’s family received fair value for a business their father had worked so hard to build.