Vercor Enhances Business Values
Selling a private business is a perilous expedition. Studies show that 90% fail in their first attempt. The result is wasted time, money and energy. Often damage to credibility and to the business.
Vercor – a leading merger and acquisitions consulting firm in the U.S. for companies with annual revenue between $5 million and $75 million – is immensely familiar with the business sale process. And although Vercor clients find higher rates of success, there’s a substantial need for companies to prepare before going to market. But the question always arises – what to do?
“Business owners are experts in their business but not in the sale of their business. They’re just unable to see themselves from the eyes of the buyer,” says David L Perkins, Jr. -- Vercor partner. “When it comes to pre-sale preparation and value-enhancement, business owners need help,” he continued.
To accommodate, Vercor set out to develop a product specifically designed for pre-sale value enhancement. In doing so, they partnered with an expert on business operations: Thomas J. McCann, Jr. of McCann Consulting. The result is a product called Vercor-Value Enhancement®. It identifies the characteristics of a business that hinder salability. It also outlines a step by step process of change to eradicate the hindrances and improve value.
As Vercor moved from product development to product launch, Tom McCann, of Leawood, KS, agreed to join Vercor as Managing Director of Vercor’s newly created Value Enhancement Services Division.
“Tom McCann has a wealth of knowledge and experience in improving the operations and profitability of companies throughout the U.S. We’re so very lucky to have him, not to mention our clients,” said Mark Jordan, Managing Partner of Vercor, LLC.
The Vercor-Value Enhancement® product is a two day assessment that is conducted on-site at the client’s business. For a flat fee, the business owner gets a thorough analysis of their business, an assessment along the 23 Vercor Value Drivers®, a written document that identifies value enhancing strategies and specific steps for implementation.
“The key to our Vercor-Value Enhancement® product is the implementation suggestions and support. This is not a document that ends up in a file. We offer clear, implementable strategies and implementation assistance,” adds Rick Dillon, Vercor partner and longtime admirer of Tom McCann’s work.
McCann’s clients attest to his skill and ability. Shirley Miller enlisted Mr. McCann before selling her industrial coatings business -- RIE Coatings, Inc. of Eden Prairie, Minnesota. Now living in Hawaii, Ms. Miller credits Tom McCann for taking her business from no value (i.e. it was losing money) to substantial value in three short years. “He’s an excellent consultant with a wealth of experience and skill in communication”, she said.
Similar results were found by William Lorence. Due to sudden health problems, he needed to sell his business quickly. Unfortunately, buyers shied away. But Mr. Lorence hired McCann and the business sold six months later for more than expected. “We feel fortunate for the assistance Tom provided in improving our operations. He’s helped us greatly.”
For more information, contact Thomas J. McCann at 913.406.5413 or visit http://www.vercoradvisor.com/presaleplanning.html.