by Charlie Chambers | Jun 14, 2019 | Business Appraisals
A business owner asked me this week why they needed a valuation. The business owner was in their late 50’s and had owned the business for over 20 years. I asked him how long he expected to work and did he have an exit strategy. He replied 10 more years, sell the...Business valuation is both an art and a science. A quality appraisal of your business takes a highly trained professional to critically analyze and determine a fair value of your business. We offer a full array of valuation services which include these for:
Charlie was instrumental in the process of acquiring my business. With this unparalleled background in accounting and finance, he offers smart, simple and actionable advice. His support helped me effectively build my business case, navigate conversations with prospective lenders and, ultimately, acquire my business 18 months ahead of schedule.
Stephanie Johnston
CEO
R/P Marketing
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His wisdom, experience, and connections are why my company is so successful today.
Several years ago when my expansion plans hit a brick wall it was Charlie and the SBDC that propped me up, helped with a business plan, and introduced me to the right people.
His knowledge and guidance guided me down the right path. Today we are very successful and growing and I proudly admit it was because of Charlie Chamber’s help.
Complete Laundering Services (CLS) is a small industrial laundering company specializing in the cleaning of industrial gloves and PPE.
As with most small companies, CLS continuously faces all kinds of challenges. Some of these we can handle well, others are beyond our capability. The 2008 recession made it obvious we lacked the talent to proactively manage our financials; CLS was in some serious financial trouble.
CLS had just joined the Toledo Chamber of Commerce. When we went looking for help, the Small Business Group got us in contact with Charlie. Charlie came in and did a complete review and audit of our financials. We met a few weeks later. It was a tough meeting. We learned a lot, especially the fact that we were NOT as financially astute as we thought we were. Charlie made his recommendations, which we implemented as soon as possible. Within 6 months the company was headed in the right direction financially.
One of Charlie’s major assets is that he is well connected with most of the major banks in Northwest Ohio. As our business loans were coming up for renewal, Charlie’s financial involvement was critical. As CLS’s financials improved, Charlie was able to “pre-sell” our stronger situation to our bank. As a result, the new loans were approved without a hitch.
Charlie continues to be part of our financial team. CLS would not exist today if were not for Charlie’s involvement and continuous support. A good man to have on your team!
Ray Zammit
Complete Laundering Services
The following is with reference to Mr. Charlie Chambers and the expert services we received over the last 5 years.
Innovative Controls Corp. has provided engineering and design services as well as factory automation systems throughout the U.S. for the past 40 years.
1. Mr. Chambers visited, analyzed, and became experienced with our business from marketing, accounting, banking and manufacturing.
2. After better understanding ICON, Mr. Chambers worked through a re-organizing process for our business and trained the staff on the importance of how the numbers flow and what specifically work in process and its effect means.
3. He provided a good analysis of our financials and identified key areas to pay attention to.
4. Due to his guidance along the way, once we had a better understanding of what is most important in the financials, we regained confidence in our ability to start, finish, and closeout project budgets and their effect on the bottom line.
5. The final piece was to create pro-forma of future sales for the year ahead and how to strive to hit our target and use it as a financial guide month to month. Each category of the pro-forma was followed and tracked: labor, material, overhead and other costs, etc. We balanced and compared the prof-forma to actual and adjusted along the way. It was a great method to have a projected look ahead as a tool to hit the numbers.
6. As an added incentive, Charlie assisted ICON with bank evaluating, negotiating, and achieving rates that balance our business model.
Thanks again Charlie for your guidance and training for myself and staff.
Regards,
Louis M. Soltis
Business Development & Marketing
Innovative Controls Corp.
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