Financial Services 1) Raising Capital for Growth If you think that raising capital for a new store or a major renovation is not part of the planning for a new store project, you are making a major mistake. Raising money when you need the money is just too late. A sophisticated project evaluation and economic justification are the minimum requirements that any lender will insist on. Knowing what lenders consider in making their lending decisions will maximize your opportunity to have your loan approved. Our consulting service will ensure that you have planned in advance for the time you will need to incur major debt. 2) Part Time Interim Financial Management - Planning for major expansions or capital expenditures Many retailers rely on a good Controller or Office Manager on a day to day basis. This potentially limited capability should, where appropriate, be supplemented by a consultant with more extensive high level financial management experience. We have more than 40 years consulting and financial management experience as Controller, Treasurer and Chief Financial Officer for major supermarket, discount and specialty retailers. Utilizing outside financial expertise is appropriate in a number of circumstances: - Planning for major expansions or capital expenditures Interim coverage for illness, maternity leave or until a replacement is found Change (project) management, including major systems selection and implementation Difficulties with current lenders including covenant problems or default Mentoring and providing an "on call" resource to your existing staff on technical issues Due diligence reviews and negotiating assistance in connection with planned acquisitions As a member of an Advisory Board providing periodic insight and guidance to owners much as a Board of Directors does for public companies 3) Financial Planning - Budgeting and Decision Support Systems Many successful multi location chains, particularly those operating in multiple markets, use decision support data bases to assist in making capital expenditure and other decisions. In its simplest form these are an extension of lease and property administration systems but can and should be much more. We have considerable experience in developing decision support data bases. Budgeting frequently deserves more attention than it receives but good budgeting is essential in managing change and during a major expansion program. Budgeting is the technique best suited to quantifying the effects of planned changes and in measuring progress against goals and objectives. Proper budgeting is a very important element of change management. 4) Financial Control Systems There is an old adage that "people do what you inspect, not what you expect". It imperative that you have a well designed financial reporting system that focuses attention as appropriate and does so on a timely basis. The key is to determine what data elements are important to the success of the business and how they are to be formatted, reported and evaluated. A successful financial reporting system can be both cost effective and influence organizational behavior in achieving the owner's goals and objectives. We can assist you in evaluating your current reporting systems and make recommendations to make them more effective "control" systems. 5) Back Office Productivity We can assist you in improving back office productivity. One key to improving back office productivity is to only do what is necessary or that which has a positive payback. Frequently old habits are slow to change and there may be things still being done that are no longer cost effective. Flow charting and other techniques can be utilized to identify such opportunities. The other key to productivity is to capture all necessary information as close as possible to the first time it is touched by us and automating subsequent processing. 6) Exit Strategy and Implementation We all understand that it is necessary to plan for major expansions, but it is also necessary to plan for the perpetuation of the business beyond the current owner(s) and managers. This may involve a transition to another generation or the possible sale of the business. It is necessary that an "exit strategy" be developed before it is necessary. There are many issues to be considered including intergenerational transfer, 'inside buy outs" or outright sale and if so to whom and at what price? What are the indicators of value? Can/should real estate be separated from operations, etc.? What are the Estate and Income tax implications, now and in the future? We can assist both in developing the answers to these questions and in providing negotiating and other assistance in implementing your exit strategy.