Services for Businesses BUYING OR STARTING A BUSINESS So you want to be an entrepreneur!  Good luck!  Statistics show that 80% of all businesses fail within the first two years.  Let The Neal Group help you into the 20% that keep going.  Our knowledge and experience allow us to ask the tough questions you need to know the answers for. Is the industry healthy?  Is the business making money?  Are the seller’s books giving accurate information?  Asking the questions now helps ensure you make the right decision, before you lose your hard earned money. BUSINESS PURCHASE OR SALE How much is that business worth?  When purchasing an existing company, it is important to know how the business is performing, compared to others in the same industry and historical performance.  Is the gross profit percentage strong? Are labor costs running at an acceptable level? What is the average net income you can expect? The Neal Group can help you answer these questions using the financial statement information provided by the former owner. We will also project income and expense levels needed to get financing.  Our experience in working with local banks can help you find the right bank and the right type of financing.  We have worked with the SBA and local economic development corporations to structure effective financing for buyers.  If you are anticipating selling your business, what should the price be?  How does your business compare to industry standards?  What does your business provide to its customers that keeps them coming back?  Do you have systems in place that would keep the business flowing during an ownership transition?  We can help you analyze and improve your business so you can get top dollar for the company that you have worked so hard to create. GROW YOUR BUSINESS(R) Did you know there are only four ways to grow your business?  Sound simple?  It is with a little help.  The Neal Group, LLC has advised many businesses on ways to be more successful.  Using our Profit Improvement Potential® analysis we can help you pinpoint ways to be more profitable and get where you want to go. BUY/SELL AGREEMENTS & FUNDING NEEDS We’re friends.  We have always agreed on everything. He’s my brother, he wouldn’t cheat me.  Sound familiar?  Maybe it’s true.  But what about your friend’s ex-wife/wife/second wife?  Your in-laws? These are reasons why you need a buy-sell agreement.  The agreement should cover what happens if you die, become disabled or just plain want out.  How are you going to pay your partner, if it’s you that died?  Why should your partner run off and expect to get paid a lump sum today?  The Neal Group can help you think these areas through up front while everybody is still friends or relatives.  We can work with you to see that adequate funds are available to make the payments.  We can help you determine the value of your business so there are no questions. OWNERSHIP SUCCESSION ISSUES You can’t take it with you!  Your business, that is.  What is going to happen to your blood, sweat, tears and money invested when you die.  Do you want your children to run it?  Are they even interested in running it?  What happens to your spouse?  Will there be any money to live on?  The Neal Group has advised countless clients on how to prepare for the passing on of their clients’ businesses. We understand the pain of letting go and try to make it go smoothly. QUICKBOOKS(C) INSTALLATION AND TRAINING Are you looking at purchasing a QuickBooks© program for your growing business? The Neal Group can assist you in the installation, setup, and training.  Proper setup and training will assure you reliable information.  Have a question?  We are just a phone call away to answer your questions as you work within the program.  Entering information correctly the first time saves time and money.  Are you confused about the many QuickBooks© products on the market today?  We can help you decide what is best for your needs.  FINANCIAL STATEMENT PREPARATION How’s business?  Your financial statements are a means for anyone to see how you are doing.  The Neal Group is able to present your business in a picture that is easily understood.  We analyze the numbers with you to show you areas of excellence and areas of concern.  By being a more informed business owner it allows you to make better decisions. CASH FLOW/PRICING/COST ANALYSIS How much is that business worth?  Where does the money go?  How can I be profitable and have no money in the bank?  Many business owners have come to us with these questions.  We take the time to analyze your business, advise you on how areas of your business act together and find ways to get cash into your pocket.  How much can I charge for my product or service?  We look at your product or service lines, labor and material structure, overhead and customer mix to help you come up with a plan that makes sense.  Every business is unique, but their problems aren’t. With our knowledge and expertise, we can research how to use tried and true methods adapted to your situation.  EMPLOYEE MANUALS “How much vacation do I get?”  “You gave him/her off, why not me?” Sound familiar?  All business owners understand the importance of an employee handbook but many companies do not have the time to put a handbook together.  The Neal Group will work with you and prepare a handbook for you based on your company’s needs. If needed, we will work with attorneys to draft policies for employees that meet the law and protect you from lawsuits and misunderstandings.  Wage and hour issues are ongoing within a business and The Neal Group will work to research and help resolve any issue that may arise within your company.  Who gets paid overtime, what happens when a salaried employee shows up late, and whether employees get a paid lunch are best covered in writing in your employee manual. EMPLOYEE BENEFITS The Neal Group works with their business clients to evaluate their employee benefit needs.  Based on your company’s needs, The Neal Group will work with you to determine coverage and premium levels.  You will be able to compare policies and premiums and select the plans that will work best for your company. We will also work with you to plan how you and your employees will pay for the coverage you selected. KEY PERSON LIFE INSURANCE What happens if you die?  Your “right-hand man” dies?  Key person insurance can help you keep going if the worst happens.  Key person life insurance is insurance that a business carries on its valued and skilled employees to partially indemnify the business for the loss sustained upon the death of a key person.  The Neal Group will work with you to determine how much key person life you need and how you can pay for it.