The Business Life Cycle.
A new level of financial services for the small-and mid-sized business owner.
At McKinnon, Wootton & Associates, we work for you. Whether you are looking to purchase a business, improve productivity, grow your business, or are ready to retire or sell your business, we can help you achieve your goals. We have associates that are specialists in all aspects of business and personal accounting, including certified business valuation. Let us guide you through whichever phase of the business cycle you currently find yourself.
Concept. Operations. Growth. Exit.
The Concept
Purchasing an existing business can be daunting. You recently came across a few businesses that you feel can reach a greater potential -with your help, of course!
You may find yourself asking, “How do I begin the selection process? Is it a good investment? How do I know that the business was scrupulous?” That is where we come in.
We will help you with the due diligence, as well as assist you with these other steps:
- Create a business plan
- Obtain acquisition financing
- Set up an accounting system
- Choose the type of entity
- Negotiate leases, insurance, and other contracts
- Ensure tax compliance
From entry to exit, we work for you.
The Operations
Once you have acquired your new business, our help doesn’t stop there. If needed, we also offer assistance with basic day-in-day-out operations by setting up the following reports and systems:
- Monthly accounting reports
- Income tax reporting and planning
- Payroll tax accounting
- Cash management
- Financial projections
- Financing growth
The Growth
You’ve purchased a business. You’ve figured out how to run your business. The next step is to grow your business, and we can help you with that, too!
We will sit down with you to review your business goals. From there we will formulate a plan to make sure you are making the right investments in your future and managing the right risks through:
- Personal financial planning
- Investment management
- Estate planning
- Insurance needs
The Exit
As with the purchase of a business, the sale of that business can be just as overwhelming. When the time comes, we are here to alleviate your fears and service your sale. After determining a value for your business and preparing it for a sale, we will analyze and discuss your options. In some cases, it may be more beneficial to transfer the business to a member of your family than to sell to an outside buyer. We will look at such specifics as ESOPS, Key Man insurance, and estate planning. From there, we will help you choose a marketing strategy, as well as organizing tax planning for when your business sells.
